Original Post Date: Wednesday, June 15, 2011

At the 2011 ISPA Conference, I conducted a ½ day workshop How To Develop Data-Driven Cost Estimating Relationships  in TruePlanning. The attendees at the workshop learned how to import their own data into TruePlanning and develop custom Cost Estimating Relationships. We covered three case studies:

 

·         In the UCAS case study we demonstrated how we can build CERs at a higher level to provide a test of reasonableness to the CAPE.

·         In the SRDR case study we demonstrated how we develop a CER to estimate SLOC based on historical data and use the results to within the new code parameter of the UCAS Reconnaissance software estimate. 

·         In the Aircraft case study we demonstrated how we can build higher level trend lines across various aircraft system platforms and classes of aircraft to compare as “ball-park” estimates.

In each case, the attendees learned how to work with real data and develop CERs traceable back to the original data points that generated them. This was a “hands-on” workshop and everyone had a chance at generating a number of CERs. Overall, we had a very successful session and provided a new and exciting capability to our TruePlanning framework.

I also wanted to share with you a few takeaways from this workshop.

  • By setting up the trend lines equations in the Equation Cost Object, estimators can create libraries of data-driven CERs for future projects
    • All data used to develop the equation can be attached to the CER to identify datapoints and methodology used.
  • The power of this approach is that the CERs are integrated into the TruePlanning framework and can be used with other cost objects (H/W, SW, IT, etc)
  • Libraries of CERs can be shared among projects.
  • CERs are “white box” and auditable both in terms of the trend line equation and underlying data points.
  • CERs represent an “estimating database” in addition to TruePlanning Cost Objects.

If you are interested in obtaining a copy of the workshop presentation including the data files and results, please e-mail me at Zachary.Jasnoff@pricesystems.com .