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  • Predictive Analytics for Improved Cost Management

Defense Ministries of Japan, Italy, and Spain Select TruePlanning to Improve Cost Management

The Ministries of Defense (MoDs) of Japan, Italy and Spain—all seeking closer oversight of large-scale system projects including more accurate capability/cost estimating, tighter control of budget constraints and better lifecycle cost management—have selected TruePlanning® from PRICE Systems, the company that pioneered the development of parametric modeling software over 35 years ago.

"These MoDs vary widely in size and budget but they all share a need to control costs in their financial, procurement and technical operations,” said Georges Teologlou, PRICE System’s VP of International Operations. "TruePlanning functions as a cost estimating engine, driving improved financial results by integrating budget information at an early stage and expediting procurement by establishing more accurate supplier assessments. In addition, PRICE Systems offers comprehensive mentoring services to guide users through the "Cost Management" process—a major factor in their decision."

The PRICE Systems TruePlanning solution, including implementation services, hands-on training and customer mentoring, is invaluable to defense ministries, other government agencies and private organizations, said Teologlou. "Because TruePlanning produces credible estimates and performs real-time analysis, it simplifies the process of communicating cost policy and justifying expenditures, a desirable feature for organizations that must answer to elected officials, taxpayers and shareholders."

TruePlanning is designed to deliver a significant ROI by bringing speed and accuracy to the estimating and decision making process. According to PRICE Systems, it is the only solution that allows users to estimate hardware (mechanical and electronic), software, IT and System of Systems projects in a single framework. TruePlanning comes with easy-to-use reporting capabilities that enable organizations to present findings and support decisions produced from analysis.