Posted by Using Bottoms-Up Cost Estimating Relationships in a Parametric Cost Estimation System
Models Track
Downloadable Files:
MOD-8 Masel Paper Bottoms-up Est Relationships
MOD-8A Masel Paper Bottoms-up Est Relationships
Abstract:
The parametric approach to manufacturing cost estimation is preferable because of the limited amount of part data required to generate an estimate. However, the limited data means that the estimate cannot achieve the accuracy of a bottoms-up estimating system.
A hybrid cost-estimating system has been developed and implemented to estimate the cost of jet engine components. The system utilizes a bottoms-up estimating approach for the actual cost estimates, but appears as a parametric system to the user. The inputs needed for bottoms-up cost- estimating relationships (CERs) are calculated from user-specified parameters based on relationships derived between part parameters and feature attributes.
Author(s):
Dale Masel
Dale Masel is an Associate Professor of Industrial and Systems Engineering at Ohio University, where he has worked for nine years. He received his PhD in Industrial Engineering from Penn State University. During the past 6 years, he has been part of a project team supported by GE Aviation to develop improved cost estimation methods for jet engine components.
Robert Judd
Robert Judd is Chair of the Department of Industrial and Manufacturing Systems Engineering at Ohio University and is also a Professor of Electrical Engineering at Ohio University. He came to Ohio from Oakland University in 1992, where he was a member of the faculty after receiving his PhD in Systems Engineering. Prior to his work in cost estimation for GE Aviation, he was involved in the development of the FIPER (Federated Intelligent Product EnviRonment) Cost Estimator, which was funded in part by the National Institute for Science and Technology (NIST).