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Product cost estimation: Technique classification and methodology review

Niazi, A; Dai, JS; Balabani, S; Seneviratne, L; (2006) Product cost estimation: Technique classification and methodology review. J MANUF SCI E-T ASME , 128 (2) 563 - 575. 10.1115/1.2137750.

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Abstract

This paper provides a detailed review of the state of the art in product cost estimation covering various techniques and methodologies developed over the years. The overall work is categorized into qualitative and quantitative techniques. The qualitative techniques are further subdivided into intuitive and analogical techniques, and the quantitative ones into parametric and analytical techniques. Each of the techniques is then described and discussed, in detail, with further subdivisions. The paper also signifies the importance of cost estimation in the early phases of the design cycle and, as such, briefly discusses the current trends and future directions in the area. Research work carried out in the field with reference to specific applications is also reviewed. The paper provides a comprehensive literature review in the field and should be useful to researchers and practitioners interested in this field.

Type:Article
Title:Product cost estimation: Technique classification and methodology review
DOI:10.1115/1.2137750
Keywords:cost estimation, technique classification, methodology review, cost estimation, applications, DISCRETE-EVENT SIMULATION, MANUFACTURING COST, PACKAGING PRODUCTS, ESTIMATION MODEL, NEURAL NETWORKS, DESIGN, SYSTEM, PARTS, FRAMEWORK, COMPOSITES
UCL classification:UCL > School of BEAMS > Faculty of Engineering Science > Mechanical Engineering

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