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Cheung, Wai Ming; Marsh, Robert; Newnes, Linda; Mileham, Antony; Lanham, John (2015)
Publisher: SAGE
Languages: English
Types: Article
Subjects: H100, H300, H700
This paper presents a data modelling and a semi-automatic data searching method to support cost estimation in the product development process, particularly for low volume, high complexity and long life products typified by defence products and systems. The paper covers a literature review in the area of cost estimation in product development, the data sets needed to perform cost estimation, the method of modelling the data and the techniques of supporting cost data searching. The proposed method will be used to support cost estimation of product development decisions for defence electronic products. To compare with the traditional approach, the method has demonstrated that by creating a centralised environment such as the databases and using a data-driven approach, the system is made more efficient by reducing the number of processes in carrying out cost estimation and thus this provides more information to make an informed concept design decision during the product development process based on the systems competence of instant cost estimation feedback.
  • The results below are discovered through our pilot algorithms. Let us know how we are doing!

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