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  • Predictive Analytics for Improved Cost Management

PRICE Systems Delivers Enhanced Cost, Schedule, and Risk Estimating and Analysis with TruePlanning 2007

Updated Offering Enables Reduced Estimating Times and Ensures Successful Milestones and Budget Outcomes

MT. LAUREL, NJ / June 26, 2007 / PRICE Systems, L.L.C., the world leader in cost estimating and analysis solutions, today announced the launch of TruePlanning® 2007, a unifying framework that enables the easy integration of multiple cost models to effectively create a best of breed "System of Systems" estimating solution for executive and oversight committees, program management offices, cost/program managers, and industry contractors. TruePlanning 2007 is a complete suite of integrated cost models, benchmarks, and powerful, fast knowledge management, which enables the cost, schedule, and risk management estimation and analysis of product and IT system life cycles.

"Our 'System of Systems' approach is a robust collection of integrated cost models whose capabilities, when acting together as a whole, is greater than the sum of each individual system's parts," said PRICE Systems President Anthony DeMarco. "Utilizing this approach, TruePlanning 2007 offers users more credible cost, schedule, and risk analysis estimates, resulting in faster, more improved decision making."

TruePlanning 2007 helps organizations—ranging from government agencies to hospitals and from banks to systems integrators—reduce estimating time and costs by enabling quick exploration of all alternatives for maximum impact. Instead of speculation, users can make decisions supported by factual data—with estimates that are accurate and defensible, and justifications that are easier to obtain, helping to avoid cost overruns and project delays. This accuracy brings confidence to budgeting and managing projects—allowing decision-makers to earn higher credibility among stakeholders and fulfill expectations for successful project, program, and business outcomes. This solution set comprises the following:

  • TruePlanning Enterprise Life Cycle Cost Estimating Software
  • TruePlanning Web-based and instructor-led training courses
  • Access to a continually-updated KnowledgeNetwork of system benchmarks - including size, complexity, and productivity metrics
  • Access to a team of seasoned cost estimating subject matter experts who mentor, train, hold frequent educational Webinars, and write topical white papers

New to TruePlanning 2007 is PRICE Systems' three-step enterprise life cycle cost estimating implementation plan—Deploy, Learn, and Standardize—which allows organizations to quickly prepare estimates for projects and operations, ask the right questions to form educated opinions on project risks and priorities, and essentially make better estimates, which leads to better decisions and true program success.

"In order to provide the best advice to senior managers, we need to be able to provide consistent auditable cost and time forecasts using coherent processes and sets," said Andy Nicholls, Air and Information Systems Strategic Forecasting, United Kingdom (U.K.) Ministry of Defense (MoD). "TruePlanning will allow us to introduce a common framework tool using best practices and models and thus improve both efficiency and quality of output."

"The new TruePlanning 2007 suite adds remarkable capabilities," said John A. Staiger, Associate Technical Fellow, Boeing Information Technology. "TruePlanning has been a proven performer for us, and this upgrade is very timely as we face new challenges in the management of our technical infrastructure. TruePlanning now has even more potential as fully integrated model for decision making when users are faced with hardware, software, services, and IT issues. This new product is one that will get used extensively in my work area."

"The Affordability Companion for ModelCenter 7.0 gives engineers an unprecedented ability to treat cost as another design parameter providing for a robust trade space," said Phoenix Integration CEO Scott Woyak. "The ultimate outcome, of course, is design optimized for both cost and performance."

The TruePlanning 2007 Modeling Companions solution set consists of:

  • TruePlanning Affordability Companion plug-in for Pro/ENGINEER Wildfire
  • TruePlanning Affordability Companion plug-in for ModelCenter 7.0
  • TruePlanning Affordability Companion plug-in for iSIGHT-FD
  • Additional Web-based training and portal applications available later this year

"The capability represented with the Affordability Companions now gives organizations the ability to evolve from merely estimating total cost of ownership to total cost knowledge across the entire lifecycle," said PRICE Systems Director of Development Projects Zachary Jasnoff.

In the coming months, PRICE Systems plans to roll out additional capabilities for TruePlanning 2007 Modeling Companions. According to Jasnoff, "the corporate orientation of PRICE Systems is to provide the greatest degree of cost interoperability with as many design and optimization tools as possible."