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  • Predictive Analytics for Improved Cost Management

PRICE Update: Prototype V-CES Launches with Free, Personalized Service for Test Users

MT. LAUREL, NJ / December 14, 2005 / The new, EU FP6-funded Virtual Cost Engineering Studio (V-CES) recently launched a prototype V-CES online service without charge for test users. PRICE Systems is among the consortium of select organizations collaborating on the V-CES initiative, an Internet-based cost estimating service that is designed to help SMEs with business planning and cost management, as well as strengthen the competitive positioning of Europe's major OEMs and contractors.

Through V-CES services, users will need 25% less time to perform more accurate estimations. As a result, companies will benefit from timely knowledge of true bottom line costs and thereby gain competitive advantages. On a macro level, V-CES will make best practices more accessible to SMEs and help achieve better OEM-supplier integration.

In addition to these V-CES benefits, companies participating in the prototype phases will be rewarded with numerous incentives, including:

  • Three months free online support on cost estimating techniques specific to their business
  • Free participation in the first versions of virtual training courses
  • Free access to V-CES first and second online prototype versions
  • Free, preferred access to the final version of V-CES Service for six months
  • Upon request, extensive information on the subject of cost engineering
  • Liberal access to a V-CES consortium member to answer questions and welcome user feedback during the testing of online prototypes

Test users who join the V-CES Interest Group, which will be launched during the first quarter of 2006, will also gain preferred access to the commercial version of V-CES Service later in 2006. Overall, V-CES will strengthen Europe's competitive position by developing collaborative technologies and best practice methodologies for improving the time, cost and coordination of major systems development.

"The online prototype of V-CES is a major milestone that underscores our substantial progress with the program this year," said Dale Shermon, PRICE Systems' coordinating member for V-CES. "SMEs are strongly encouraged to become test users to help ensure an online resource that addresses their every need for better cost management and inclusion in major systems programs."

In addition to PRICE Systems, the consortium of companies collaborating to implement and maintain V-CES consists of:

  • IZET Innovation and Technology Centre, Itzehoe, Germany-V-CES program coordinator and expert in project management, technology transfer, company start-up and growth of product innovations
  • Cranfield University, UK -a world leader in engineering cost estimation with a strong background in the aerospace industry
  • Centre Ricerche FIAT, Trento, Italy-the research centre of FIAT Group, with excellent competences in value and cost management
  • DAS, Dresden, Germany, -state-of-the-art abatement systems provider for the semiconductor industry.

For more information on V-CES in Europe, visit: