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Software > PRICE® Cost Models™

Predictive Models for TruePlanning®

PRICE® Cost Models—based on historic project data verified and validated by extensive PRICE® Research analysis and refinement—enable estimators to generate cost proposals using reliable top down estimating based on correlations to the scope and complexity of new projects.

These highly refined models help generate estimates for cost proposals in hours instead of weeks or months. They enable credible “Should Cost” estimates and Analysis of Alternatives that save time and money in resource and planning management, and provide a sound basis for program maintenance activities. They also create the ability to project future costs of currently immature technologies, based on engineering complexity, engineering skills, and scope of design efforts.

Today, PRICE offers more than 40 cost models for top down estimating, plus the ability to complement them with customer-specific cost data. These models address multiple disciplines that can be integrated under the PRICE® TruePlanning Framework, as well as standalone models such as PRICE H for independent disciplines.

An exclusive advantage of these models, used within the TruePlanning® cost estimation framework, is their ability to support comprehensive systems estimates. Complete systems are estimated by modeling a product breakdown structure from the catalogs of integrated models. These cost models are based on data collected, cleansed, normalized, & regressed from more than 21,000 projects.

PRICE® Research builds best practices into PRICE cost estimating software and other estimating tools, develops methodologies, creates knowledge for PRICE customers and delivers value to them through a range of professional services, including model building and custom research (done on request of specific individual organizations).