Download From Product Description to Cost: A Practical Approach: The by Pierre Marie Maurice Foussier PDF

By Pierre Marie Maurice Foussier

Parametric fee estimating, whilst adequately used, is the most important and price potent approach. regrettably, this method is frequently misunderstood and rejected through many power clients for whom it may be a priceless software. the advance of an contract on the right way to use it and the way to know its obstacles is an important gain to the associated fee estimating group.

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Extra resources for From Product Description to Cost: A Practical Approach: The Parametric Approach

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The credibility a manager gives to a cost forecast is based of course on the known experience of the cost estimator, or the lack of experience if a completely new subject is considered, and the seriousness the cost estimator does his/her job (assuming that the manager has formalized the periodic audit of cost estimating, as it will be mentioned in Part IV). It is also built on the comparisons between forecasts and actual costs. A manager will not have the same attitude toward cost estimates if the deviations between previsions and reality are at Ϯ40% or Ϯ5%!

Variable costing is only for budget preparation: when preparing a budget, the load of the company is still uncertain which implies that the expenses cannot be determined with precision. One of the techniques which can be used is to compute several budgets, depending on various load. This technique does not concern the cost analyst, and will therefore not be discussed. Cost Measurement 15 Unfortunately cost accounting is not made for objects or products cost measurement but first for external reports.

There is therefore some confusion about the vocabulary! 12 The Framework We do not like so much a word which has different meanings for different persons. We used it in this introductory chapter, because it is well known in the community of people who use explicit cost drivers to estimate cost. We will however mainly use the word “parametric” as an adjective for referring to the basic cost estimating method. We will rarely use the word “parameter”, preferring the word “cost driver” or simply “variable”, a variable being a concept which is used in the relationships.

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