1854. The Importance of Weight in Changing a Cost Estimating Environment
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Paper
Abstract
Until recently, bottoms-up has been the primary method of cost estimating in the aerospace industry. Parametric estimates were used internally only for trade studies and should-cost analyses and were not submitted with the proposal. Lockheed is working to reverse the cost estimating process, i.e., parametric as the primary method and bottoms-up as the last resort. This paper presents one such method and addresses how yesterday?s databases can be adjusted for today?s technology. This paper is intended to demonstrate that parametric cost estimating is being implemented as a primary method and, as a result, weight as a cost driver is extremely important.
