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  • Predictive Analytics for Improved Cost Management

PRICE Systems Announces Major Wins in Federal Markets: US Army National Automotive Center and National Computerization Agency of Korea Gain Greater Cost Visibility and Project Control

MT. LAUREL, NJ / December 2, 2003 / PRICE Systems, the world leader in Project Affordability Management solutions for the global Federal market, today announced two contracts for its Cost Estimating and Project Control tools and Cost Modeling services with the US Army National Automotive Center and the National Computerization Agency (NCA) of Korea.

"PRICE Systems is dedicated to helping government agencies and large commercial enterprises implement consistent, credible and successful cost management practices," said Anthony DeMarco, president of PRICE Systems. "We are pleased to be able to help these organizations gain a true view of the cost and effort of their complex projects and therefore control and deliver them more effectively."

US Army National Automotive Center's Future Combat Systems (FCS) Program Will Accelerate Design Process and Reduce Costs with Integrated Cost Analysis and Design Engineering Models

Team OFCM, led by Altarum Institute, with PRICE Systems as the major partner, will develop the Objective Force Cost Module (OFCM) for the US Army Tank-Automotive and Armament Command (TACOM) National Automotive Center. According to the President's FY04 Budget, "OFCM [is] critical to the on-time and on-budget deployment of the Future Combat Systems."

FCS Program stakeholders must be able to get cost impacts of design alternatives in a timely manner. FCS is a complex and multifaceted system, in which PRICE Systems' estimating tools will be integrated directly with engineering models. Rather than waiting days or weeks for estimates on design alternatives, the program seeks to deliver faster decision cycle times through first-pass success, lower life cycle costs due to requirements-driven design, and accurate cost estimates derived early in the process.

The US Army TACOM National Automotive Center is engaged with PRICE Systems' newly formed Consulting Services Division, established earlier this year and based in Arlington, VA. PRICE Systems consultants are experts in defining, controlling, and containing cost, with specialties in building budgets, evaluating performance, identifying risk, analyzing tradeoffs and continuously monitoring program value. The company's highly skilled and experienced consultants are certified in commercial best practices and use PRICE Systems' tools or other accepted cost methodologies to support their clients' programs.

National Computerization Agency (NCA) of Korea Selects PRICE Cost Estimating Tool to Establish Software Development Cost Model

The Korean NCA is lead agency in the nationwide initiative to set up "e-Korea," which is defined by a series of missions including the construction and promotion of the Korea Information Infrastructure; management and operation of public organizations' information networks; and evaluation and audits of IT projects and systems. The Korean NCA is the most important agency for commercial software auditing.

After a rigorous competitive evaluation, the Korean NCA selected PRICE S, PRICE Systems' Software Development and Support Cost Estimating Model, as its tool to audit software development. PRICE S is part of the PRICE Estimating Suite, state-of-the-art, industry-specific applications used to estimate costs and schedules, assist in product planning, and improve project control. PRICE Systems' Korean distributor, Prigent, supports the NCA's project.