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Looking to Add Value? See the Added Value with Common Element Models

By William GbeleeMay 20, 2020

Good morning class! Today, we will focus on the purpose and use of the System and Assembly cost objects. These are parent cost objects in your product breakdown structure (PBS) that captures System Engineering, Program Management, Data, and Integration, Assembly, Test, and Checkout. “Is there a way to show these discretely in your PBS like the Military Standard 881D?”, asked a customer. A question far too common when teaching customers how to build their projects in TruePlanning®.

As I begin to explain that these activities are baked into these two cost objects and cannot be displayed discretely in your PBS, but you can run a report that displays these activities, I began to think about how much value PRICE® could add by improving on our capability to better align with the customers environment. My mind then wandered to how this could move customers further down the learning curve when picking up TruePlanning® for the first time.

Fast forward to present day, where PRICE®has made that dream a reality. PRICE® is excited for the release of the new Common Element models that will debut with the upcoming release of TruePlanning® 16.2. Figure 1 shows all the new common element models that can be used when building your PBS. As a technical resource for both Air Force and Army customers, and a TruePlanning® user for more than 3 years, I must admit that this adds tremendous value for our customers. The Common Element models not only enhance how our customers can build their PBS, but it also provides better visibility of these costs in their estimate.

For more information on the Common Element models, PBS best practices, and supporting research, please sign up for our upcoming Common Elements Webinar.