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 * Corresponding author: Faculty of Engineering and Environment, University of Northumbria, Newcastle Upon Tyne NE1 8ST, UK; wai.m.cheung@northumbria.ac.uk
Cost Data Modelling and Searching to Support Low Volume, HighComplexity, Long Life Defence Systems Development 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 system's competence of instant cost estimation feedback.Keywords: Product development; Cost modelling; Low volume products; Data driven cost estimation; Electronic and Mechanical Modular-based Library
INTRODUCTIONAccurate and reliable cost estimates require historical data and information to be made available. This is applicable to all types of manufactured products. As pointed out by Bode [1], cost estimation at the early stage of product development has always been difficult due to the availability of limited attribute information. In addition, accurate and reliable cost estimation can only be obtained at a later stage of the development process when more information and data are presented. This is due to the cost models and systems used that require a large amount of detailed data before a cost calculation could be made [2].It is common knowledge that in each phase of the development of a product, a company spends money and also incurs future costs. For example, in drugs development, the process of developing new drugs is lengthy and costly. As such a large percentage of the cost in developing new drugs is in research and development.According to DiMasi [3], to produce an estimate of expected cost for a marketed product, the drug development company must allocate the costs of the unsuccessful projects to those that result in a marketed new product. As such, the estimated average This paper therefore proposes a new approach of performing cost data modelling coupled with a semi-automatic searching mechanism to address cost estimation at the product development stage for LVHC long life products. The modelling method is unique due to dedicated modules that are used to capture relevant data to support the initial product configuration process to gen...