• Predictive Analytics for Improved Cost Management  



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Original Post Date: Monday, July 2, 2012  The COSMIC method for counting function points arose out of concerns that the IFPUG (NESMA, FisMA) function points are too concerned with data intense business systems and subsequently are not adequate for adequately measuring the size of real time systems.   The COSMIC function point counting method has been designed to be applicable to both business systems such as banking, insurance, etc and real time software such as telephone exchanges and embedded systems such as those found in automobiles and aircraft.  The COSMIC method uses the Functional User Requirements as the basis for the ...
Original Post Date: Tuesday, June 19, 2012 In my last blog, I talked about the major research study on electronics being undertaken by the PRICE cost research team this year.  So far, we have visited modern electronics facilities, interviewed electronics experts, and visited customer sites to discuss their electronics estimating challenges. Among other things, we want to revisit and improve our “Manufacturing Complexity for Electronics” calculator.  This calculator guides users through a process of describing the electronic components being modeled, in a way that helps them quantify the complexity.  The first steps involve describing the equipment type, and technologies used.  ...
Original Post Date: Monday, June 18, 2012 This week I’m attending the Better Software Conference in Vegas.   I just attended a great keynote given by Patrick Copeland of Google.  The topic was innovation.  He talked about how innovators beat ideas, prototypes beat prototypes and data beats opinions.  These sentiments are all part of the pretotyping manifesto. He started with the truth that most new products and services fail and proposed that while this is not unexpected, there is a good way to fail and a bad way to fail.  The good way to fail is to fail fast.  ...
Original Post Date: Tuesday, June 5, 2012 Ever wonder what programming languages are the most productive?  I recently did a little research into this topic using the International Software Benchmark Standards Group (ISBSG) database. The database contains over 5000 data points with size and effort data for projects from a wide variety of industries, applications and counties.  Of course not all 5000 data points were suitable for my investigation.  The software size is measured using functional size metrics but the database accepts projects that use various counting methods.  I narrowed my search to projects that used the International Function Points ...
Original Post Date: Monday, April 16, 2012 This year, the PRICE cost research team is kicking off a major research study on electronics.  The field of electronics changes very rapidly, and we want to ensure our estimation methods are well suited for the latest technology.  While we constantly collect data and update relationships, this study will go above and beyond the norm.  We'll visit modern electronics facilities, interview experts, visit customers to discuss their electronics estimating challenges, and start a major data collection and analysis effort.  In the end, we plan to add many new electronic classifications, reexamine our ...
Original Post Date: Thursday, April 5, 2012  Introduction The previous blog covered getting started with the TruePlanning API using VBA. Now it is time to tackle collections. Collections in the TruePlanning API are simply objects that hold a list of objects where all the objects are of the same type.  For example, the Project object contains a collection of the Cost Objects that belong to the project.  In order to use the TruePlanning API, mastering collections is essential, but “mastering” is a bit strong a word given that they are easy to use. By the end of this blog TruePlanning API ...
Original Post Date: Monday, April 2, 2012 In my previous blog, I introduced the relationship between three “breakdown structures” commonly used in project management, and how cost estimates are linked to them and aid in their usefulness.  In this blog, I’ll dig further into these relationships, and explain their impact on my Total Ownership Cost (TOC) solution in TruePlanning.   Let’s use an example of an aircraft being built for the Army.  In this hypothetical example, the prime contractor is Boeing, and they have different departments working on various parts of the aircraft.  Department 10 is responsible for the wings and ...
Original Post Date: Thursday, March 29, 2012 Introduction The new TruePlanning COM Application Programming Interface (API) found in the 2012SR1 release of TruePlanning provides a powerful mechanism for leveraging the power of TruePlanning within custom solutions. Through the COM API TruePlanning projects can be created, updated, calculated and saved allowing for near limitless potential for integration with TruePlanning.  That said it is an “API” which means some programming will need to be done. This discussion is focused on how to get started using the TruePlanning COM API. Development Environments The TruePlanning COM API is written in C++, but is available to any programming ...
Original Post Date: Monday, March 26, 2012 In my research on project management and cost estimation, I often come across three different “breakdown structures” which are useful in dissecting a project from various points of view.  The work breakdown structure (WBS) is oriented around project deliverables; it breaks a system down into subsystems, components, tasks and work packages.  The organization breakdown structure (OBS) shows the structure of the organizations involved in the project, including how these organizations break down into sites, divisions, teams, etc.  Finally, the cost breakdown structure (CBS) examines a project in terms of useful cost categories, ...
Original Post Date: Friday, March 23, 2012 Recently I have been playing around with the International Software Benchmark Standards (ISBSG) database for Development and Enhancement projects.  And in the interest of full disclosure I admit that I am more than a little excited to have close to 6000 data points at my fingertips.  I will further admit that there’s something quite daunting about having this much data; where to start, what should I be looking for, how can I best use this data to offer some useful guidance to inform software cost estimation.  For those of you not familiar ...