• Predictive Analytics for Improved Cost Management  



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In our previous blog, we defined PCA and PRICE’s unique approach via TruePlanning.  This blog is the second of seven to describe by specific impacts on key business processes and functional areas that benefit from this capability. For estimators and engineers, the PRICE Cost Analytic Framework® improves cost estimating speed and accuracy, with built-in flexibility to evaluate multiple alternatives quickly. The integrated set of data, tools, and processes enables organizations to successfully estimate and analyze the effort, schedule, and cost of projects.  Specific estimation applications include Independent Cost Estimation (ICE), should-costing, vendor/supplier assessments, cost-benefit trade studies, proposal baselining… and more. PRICE® ...
In our previous blog, we defined PCA and PRICE’s unique approach via TruePlanning.  This blog is the first of seven to describe by specific impacts on key business processes and functional areas that benefit from this capability.   PRICE® Cost Analytics (“PCA”) provides the tools and a systematic approach to enhance the effectiveness of Total Cost Management (“TCM”) through the application of cost management principles, proven methodologies and the latest predictive technology in support of the management process and its decision-making. PCA and TCM both start with a simple concept based on the time-tested Deming or Shewhard cycle. In essence, TCM and ...
  On this website, you will find multiple blogs as well as other links to descriptions of v2016’s new features and capabilities, often in the context of Predictive Cost Analytics and specifically our process-instance of PRICE® Cost Analytics or “PCA”… But what exactly is that, you might ask? PCA is a proven predictive analytics approach focused on cost management (Cost Estimation, Cost Budgeting, and Cost Control) that delivers the answers you need, when you need them.  As cost, profitability and affordability are a critical part of your decision criteria, PRICE® Cost Analytics will make you more confident in your decisions. PRICE® Cost ...
Your license has been updated to include TruePlanning 2016’s new IT Services catalog.  This capability is a significant upgrade to v14.2’s IT Infrastructure catalog.  In the past with the latter, representative of typical logistical equipment build-up philosophies, estimates were focused primarily on operations of existing/deployed IT enterprises.  Now, with IT Services, you can estimate IT deliverables as services, delivered with in-house and/or contracted resources.  This catalog was specifically designed to better align with the way organizations currently estimate and budget for IT services.  There are now 8x2 = 16 specific types of estimating capabilities, supporting both New Projects and ...
I hope you have enjoyed my series of blogs on the Four Pillars of Affordability. I have tried to impart to you what I have learned during my 30 years in the Defense Industry and the last 25 years as an Affordability Manager and cost estimator. The purpose of the Four Pillars of Affordability is to enable you, and your program, to develop a product for your customer that is considered affordable and ultimately, a value to them. My definition of Affordability is: Affordability is the process that balances performance with price to meet customer needs. A product is ...
When first creating your resume it can be overwhelming to know where to start. Personally, I would start by opening a Word Document and look through the pre-created templates. These templates help guide you to the best place to insert your information and provide an overall layout of a good resume. The same thing happens when you open TruePlanning® to create your first cost estimate. Like the pre-created templates in Microsoft Word, our templates were created by our cost research team to provide you with a guide on how to get started on your estimate. One of the templates we ...
In my first blog of this series I introduced you to the Four Pillars of the Affordability Process. They are: 1.       Management Support 2.       Methodology 3.       Training 4.       Tools/Automation In this fifth blog I write about the Fourth Pillar; Tools/Automation, teaching you what I have learned over the past 25 years as an Affordability Manager and Cost Estimator. Now that Management Support is in place, a written Methodology has been published giving Affordability the legitimacy it needs, responsibilities delineated, and templates to follow, and both Management and Design IPT Members have been trained, it is time to focus on the tools, automation, and support personnel ...
As most of the Summer Olympics occurred during the work week, it was hard to stay on top of the results and the big ordeal of how many medals Phelps has now. But luckily, Google makes it very easy to stay up to date with each of the games results because Google’s web crawling bot, named “Googlebot” not only finds pages the most relevant to your search but also “discovers new and updated pages to be added to the Google index.” (https://support.google.com/webmasters/answer/182072). So when you Google, “Total number of medals that Michael Phelps has won,” one of the first ...
In my first blog of this series I introduced you to the Four Pillars of the Affordability Process. They are: 1.       Management Support 2.       Methodology 3.       Training 4.       Tools/Automation In this fourth blog I will provide you with the benefit of my insight and years of experience by writing about the Third Pillar; Training. Once Management Support has been obtained (The Key) and a written Methodology (The Heart) published to breathe life into the process it’s time to train management and the members of Design Integrated Product Teams (IPT) in Affordability Methodology and its application at the program and IPT levels. Affordability training is best focused ...
The system engineer (SE) is responsible for the technical aspects of the project that includes working with the architecture, design, and integration teams.  SE develops a workable system solution that is capable of meeting the customer requirements.  The project manager (PM) is responsible for the programmatic elements of the project that include the schedule, budget, and staffing.  The PM also manages customer expectations and provide status reports.  The two roles require close collaboration.  The common elements between the two, referred to as SEPM, are requirements development, customer interaction, and risk management.  Due to these overlapping elements, an allocation between ...