In our previous blog, we defined PCA and PRICE’s unique approach via TruePlanning.  This blog is the third of seven to describe by specific impacts on key business processes and functional areas that benefit from this capability.


Budgeting is a critical first step in developing an effective cost management plan. The ability to integrate your specific budget tools with a predictive cost estimation engine, whose output can be tailored to your organization’s cost activity center structure, is a very powerful capability.

The requirements to achieve this level of budget management consist of the following:

  1. Accessing historical budget data which allows you to benchmark the allocation of dollars to specific cost activity centers.
  2. A predictive cost estimating capability which can be customized to specifically represent the item for which the budget is being built.
  3. The ability to format the output of the estimating system to multiple cost estimation structures customized for a particular management or execution need.

The ability to build an estimate and do what-if drills, translate the estimate into a budget, and distribute the budget to project personnel quickly and seamlessly is critical. The PRICE® Cost Analytic Framework is designed, through the use of an integration engine, to facilitate this kind of budget management. The integration engine is the capability that allows the organization to combine its data, budget tools and cost engine to facilitate this type of agility.

 

Success can be accelerated by the PRICE® Predictive Cost Analytics (PCA) integration of business, engineering, and program management objectives in order to produce competitive solutions. 

TruePlanning immediately facilitates objective quantitative assessment of customer needs/requirements, winning-business solutions, and project lifecycle cost management.

Contact me for a demonstration, either in person or via telecon. We’ve had many success stories here.  You can be next!