NDLI: Top-Down Benchmarking Approach for Estimating Cost of Concept

Content Provider	The American Society of Mechanical Engineers (ASME) Digital Collection
Author	Ramesh, Raghuram Puthali Takai, Shun
Copyright Year	2006
Abstract	Due to the highly competitive nature of businesses today, cost estimation forms an important strategic process in making decisions about design and development of new products. The focus is on improving the quality and service of the product at ever reducing costs. In conceptual design phase, engineers need to estimate how much the final products developed from each concept may cost. Estimating cost of the final product is critical in selecting the optimal concept. Majority of the cost estimation techniques used in the industry today concentrate on the parametric estimation. Parametric estimation accurately predicts cost of the final product using historic data about cost drivers. However, if firms are developing new products different from their past product categories, historic data may not be a credible source for parametric cost estimation. In this paper, the authors proposed a top-down benchmarking approach in estimating cost of new products in conceptual design phase. The objective is to construct a cost distribution model for the final product developed from each concept.
Sponsorship	Design Engineering Division and Computers and Information in Engineering Division
Starting Page	653
Ending Page	659
Page Count	7
File Format	PDF
ISBN	0791842584
DOI	10.1115/DETC2006-99615
e-ISBN	079183784X
Volume Number	Volume 4b: 11th Design for Manufacturing and the Lifecycle Conference
Conference Proceedings	ASME 2006 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference
Language	English
Publisher Date	2006-09-10
Publisher Place	Philadelphia, Pennsylvania, USA
Access Restriction	Subscribed
Subject Keyword	Concept Belief Profit margin Price Distribution Benchmarking Cost estimation Target costing Design Engineers Conceptual design Decision making
Content Type	Text
Resource Type	Article

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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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