Specific models (or CERs)

Tools

EstimFec EstimLab

Why should you create a CER ?

To predict the cost of a new product belonging to a product family for which one has references, a CER

  • provides the quickest method to estimate,
  • can generally give the most likely cost and also the confidence interval (configurable) around that cost,
  • permet de calculer en quelques secondes l’influence de l’évolution d’une variable causale,
  • the result has a high level of confidence because
    1. the result is built on your validated data,
    2. it is based on your whole data set and not one or two data,
    3. it is calculated with a proven methodology,
  • allows to easily justify to decision makers of the value of the estimate (the graph is generally sufficient),
  • savec all results and thus provides a database for improved prediction.

For these reasons the CER development is very effective in cost forecating. We should also mention that the recalculation of a CER is extremely fast as soon as new data are available. This provides easy forecasting tools always up to date..


Who are the CERs for?

Once the CER implemented with our software, the formula is for all those who need a fast, reliable and realistic cost estimate :

- > the designers

  • to alert them to the most significant variables in terms of cost,
  • enable them to choose between different solutions,

- > the purchasers to prepare their negotiations with suppliers,

- >the leaders

  • to prepare budgets,
  • to judge the confidence to provide to estimates,
  • to choose between projects and solutions.

How?

The following tools are available to create your models

- EstimFEC: to create your models

- EstimLab: to create your models and make use of them in your projects

Vocabulary

French