Defense & Security contractor reduces estimating time and effort
Category: Use Cases
DEFENSE CONTRACTOR REDUCES ESTIMATING TIME AND EFFORT, WHILE SUPPORTING STRATEGIC INITIATIVES AND EFFICIENCY–
Estimating costs for new product components early in the design cycle—
especially components bearing little resemblance to previously purchased items—consumes
time and manpower at a point when designers need only rough guidelines for which design
approaches to pursue or modify. When a major defense contractor looked for a way to
improve upon their homegrown spreadsheet approach to put engineers in control of better
early decisions, they discovered they already had an alternative in-house.
The contractor took advantage of their existing PRICE® TruePlanning® licenses
to create a controlled comparison of top-down estimating performance vs. known product
costs. Comparing historical costs for a selected set of 48 machined parts representing a cross
section of shapes, materials, and machining technologies provided favorable results in terms
of time and accuracy.