Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage

conference paper Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage published Andreas Otte author 51466 Eva Scheideler author 61522 Franz-Josef Villmer author 14290 Franz-JosefVillmer editor ElioPadoano editor DEP7000 department DEP1306 department Proceedings 6th International Conference Due to steadily increased demand for customized products, as well as their enhanced complexity and shorter product lifecycles, companies in all industries require a reliable prediction of the expected product development costs from the very start of product realization. Incorrectly estimated project costs may lead to serious consequences in the course of a development project. For example, offers are most often based on such early cost estimations and consequently, a major safety margin has to be added, which may result in the refusal of an order. A too low estimation of the costs of aproduct development project, on the other hand, may result in a loss for the project.In this paper, a software tool is presented for the prediction of product development costs which offers the user the ability to create a more accurate prediction of project costs on the basis of a minimum of retrograde project information. By combining a parametric cost model and cost result with stochastic character, based on the Monte Carlo method, in one software system, it is possible to significantly improve projectcost estimations. 2016Lemgo eng Cost predictionProduct realization projectsMonte Carlo methodParametric cost modelSoftware tool Department of Production Engineering and Management 978-3-946856-00-9 1281-292 https://www.hs-owl.de/fileadmin/diman/Veroeffentlichungen/PEM_2016_Proceeding_2016_09_14_Inhaltsnavigation.pdf A. Otte, E. Scheideler, F.-J. Villmer, in: F.-J. Villmer, E. Padoano, Department of Production Engineering and Management (Eds.), Department of Production Engineering and Management, Lemgo, 2016, pp. 281–292.

Otte, Andreas ; Scheideler, Eva ; Villmer, Franz-Josef: Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage. In: Villmer, F.-J. ; Padoano, E. ; Department of Production Engineering and Management (Hrsg.): Department of Production Engineering and Management. Lemgo, 2016, S. 281–292

Otte, Andreas, Eva Scheideler, and Franz-Josef Villmer. “Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage.” In Department of Production Engineering and Management, edited by Franz-Josef Villmer, Elio Padoano, and Department of Production Engineering and Management, 281–92. Lemgo, 2016. A. Otte, E. Scheideler, and F.-J. Villmer, “Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage,” in Department of Production Engineering and Management, Lemgo, 2016, no. 1, pp. 281–292. Otte A, Scheideler E, Villmer F-J. Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage. In: Villmer F-J, Padoano E, Department of Production Engineering and Management, editors. Department of Production Engineering and Management. Lemgo; 2016. p. 281–92. Otte, Andreas, et al. “Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage.” Department of Production Engineering and Management, edited by Franz-Josef Villmer et al., no. 1, 2016, pp. 281–92. Otte, Andreas et. al. (2016): Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage, in: Franz-Josef Villmer et. al. (Hgg.): Department of Production Engineering and Management, Lemgo, S. 281–292. Otte, A., Scheideler, E., & Villmer, F.-J. (2016). Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage. In F.-J. Villmer, E. Padoano, & Department of Production Engineering and Management (Eds.), Department of Production Engineering and Management (pp. 281–292). Lemgo. A. Otte, E. Scheideler, F.-J. Villmer, Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage, in: F.-J. Villmer, E. Padoano, Department of Production Engineering and Management (Eds.), Department of Production Engineering and Management, Lemgo, 2016: pp. 281–292. Otte A, Scheideler E, Villmer F-J. Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage. In: Villmer F-J, Padoano E, Department of Production Engineering and Management, eds. Department of Production Engineering and Management. Lemgo; 2016:281-292.

Otte, Andreas, Eva Scheideler und Franz-Josef Villmer. 2016. Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage. In: Department of Production Engineering and Management, hg. von Franz-Josef Villmer, Elio Padoano, und Department of Production Engineering and Management, 281–292. Lemgo.

Otte A, Scheideler E and Villmer F-J (2016) Project Cost Estimator - A Parameter-Based Tool to Predict Product Realization Costs at a Very Early Stage. In Villmer F-J, Padoano E and Department of Production Engineering and Management (eds), Department of Production Engineering and Management. Lemgo, pp. 281–292. 5942019-02-18T15:41:41Z2023-03-15T13:50:03Z