Early life cycle cost estimation: Fiscal stewardship with engineered resilient systems

Travis Moody, Robert Provine, Samantha Todd, Nicholas Tyler, Thomas R. Ryan, Ricardo Valerdi

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Organizations are constantly seeking to achieve earlier and more accurate cost estimates in order to make better trades space and design decisions, as well as minimize project cost and schedule overrun. These estimates facilitate decisions that are more informed - especially within the United States Department of Defense's engineered resilient systems (ERS) program. This paper will discuss the current methods used to achieve life cycle estimates, the role of estimation within ERS, and recommend a parametric life cycle cost estimation model that will support decision-making. In addition, this paper will focus solely on early life cycle engineering inputs that translate with Department of Defense's pre-Milestone A in order to create an early life cycle cost estimation model (ELCE). This model leverages the engineering inputs (design parameters) that are typically available early in the design process in the following five categories: hardware, software, systems engineering, project management, and integration. This paper will also highlight future research goals to determine values for factors of economies of scale, regression analysis with real data, limitations, and potential impacts of application.

Original languageEnglish (US)
Title of host publicationDisciplinary Convergence in Systems Engineering Research
PublisherSpringer International Publishing
Pages17-25
Number of pages9
ISBN (Electronic)9783319622170
ISBN (Print)9783319622163
DOIs
StatePublished - Nov 24 2017

Keywords

  • Acquisition
  • COCOMO II
  • Cost estimation relationships
  • Costing
  • COSYSMO
  • DoD 5000.02
  • Engineered resilient systems
  • Hardware estimation
  • Integration
  • Integration estimation
  • Life cycle
  • Project management
  • Project management estimation
  • Software estimation
  • Systems engineering estimation

ASJC Scopus subject areas

  • Engineering(all)

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  • Cite this

    Moody, T., Provine, R., Todd, S., Tyler, N., Ryan, T. R., & Valerdi, R. (2017). Early life cycle cost estimation: Fiscal stewardship with engineered resilient systems. In Disciplinary Convergence in Systems Engineering Research (pp. 17-25). Springer International Publishing. https://doi.org/10.1007/978-3-319-62217-0_2