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Cost Model Development using Costmod Dave Stockton Taqui Shaik

Cost Model Development using Costmod Dave Stockton Taqui Shaik. Contents. Basics of the cost model development process Basics of Costmod – project scoping and the model identification process Exercise: Developing cost models using Costmod Costmod – EPSRC Funded research project.

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Cost Model Development using Costmod Dave Stockton Taqui Shaik

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  1. Cost Model Development using CostmodDave Stockton Taqui Shaik

  2. Contents • Basics of the cost model development process • Basics of Costmod – project scoping and the model identification process • Exercise: Developing cost models using Costmod Costmod – EPSRC Funded research project. Collaborators included: Airbus, Rolls-Royce & Cognition

  3. Identified Existing Methods • Data Identification - methods for identifying variables required to generate models • Data Collection - methods by which the data required to generate models could be collected • Data Analysis - methods by which the cost estimating relationships could be determined

  4. Affinity Diagrams Brain storming Case Base Reasoning Consensus building. Data mining. Fishbone diagram. Force field diagrams Fuzzy logic Heuristics. Histogram. Normal test plot. Radar chart. Relationship diagrams Repertory grids Scatter plot. Simulation Data Identification Methods

  5. 2-D & 3-D Flow Diagrams Activity Sampling Analytical Estimating Checklists Direct observation Film analysis sheet. Flow Process Charting Interview Methods Time Measurement Operational Experiments Outline Process Chart Production Studies Questionnaires Records, Files and Documents Time Study Video tape recording Patents Data Collection Methods

  6. Neural networks Factorial Analysis Fuzzy logic Genetic Algorithm Least Squares Linear Programming Multiple Linear Regression Multiple Non Linear Regression Pareto Analysis (80-20 rule) Queueing Models Simultaneous Equations Stepwise Regression Analysis System Pyramid. Taguchi Methods Data Collection Methods

  7. Data Sources

  8. COSTMOD Cost Model Development Process • Process • Scoping • define processes & products that need models • define the characteristics of these cost models Data Collection & Model Identification Develop the Cost Estimating Relationships Selection of data sources and data collection methods

  9. Project Scoping – 1 of 6

  10. Project Scoping 2 of 6

  11. Project Scoping 3 of 6 Business Objective and Decision Levels applicable to the cost model

  12. Project Scoping 4 of 6

  13. Project Scoping 5 of 6 Enter required Estimating Accuracy <5%, 5%-10%, 10%-15% ….. >25%

  14. Project Scoping 6 of 6

  15. Model identification process

  16. Model identification process

  17. Model identification process

  18. Model identification process

  19. Model identification process

  20. Model identification process

  21. Exercise: Develop a cost model • Form groups of 3-4 • Use the Costmod process to develop a suitable model for estimating the time required to sharpen a pencil within a medium volume production environment

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