From Product Description to Cost: A Practical Approach

Volume 2: Building a Specific Model

  • Pierre Foussier

Part of the Decision Engineering book series (DECENGIN)

Table of contents

  1. Front Matter
    Pages i-xxxvi
  2. Population and Sample

    1. Front Matter
      Pages 1-3
    2. Pages 31-39
  3. Data Analysis Precedes the Search for a Specific Model

  4. Finding the Dynamic Center of a Multi-Variables Sample

  5. Studying the Residuals Is as Important as Finding the Formula

    1. Front Matter
      Pages 255-259
    2. Pages 279-284
  6. Building a Specific Model

    1. Front Matter
      Pages 285-286
    2. Pages 335-357
  7. Back Matter
    Pages 359-362

About this book


Parametric cost estimating, when properly used, is a very powerful and cost effective technique. Unfortunately, this technique is often misunderstood and rejected by many potential users for whom it could be a beneficial tool. The development of an agreement on how to use it and how to recognise its limitations is a major benefit to the cost estimating community.

From Product Description to Cost: A Practical Approach:

• presents different ways of parametrically forecasting costs, and the advantages and disadvantages of these methods by using real examples from the mechanical, software and building industries;

• discusses most of the mathematical procedures which are useful for parametrically forecasting costs; and,

• introduces the judgement needed to audit the ways in which these forecasting techniques are used, firstly as a process, and secondly as a tool to generate estimates.

Volume 2: Building a Specific Model is divided into nine parts and focuses on the building of ‘specific’ cost estimating models. These models explicitly refer to a ‘product family’, and, as opposed to ‘general’ models, any company (if properly organised) can build these models. Understanding the procedures is key  in creating successful specific models; for this reason all these procedures are fully described in this volume. Classical methods and new ones (such as the "bootstrap") are described and illustrated.

The Decision Engineering series focuses on the foundations and applications of tools and techniques related to decision engineering, and identifies their relevance in ‘engineering’ decisions. The series provides an aid to practising professionals and applied researchers in the development of tools for informed operational and business decision making, within industry, by utilising distributed organisational knowledge.


Industrie Information Regression Software calculus cost estimating cost modelling data analysis development model quality risk analysis

Authors and affiliations

  • Pierre Foussier
    • 1
  1. 1.Voisins le BretonneuxFrance

Bibliographic information

  • DOI
  • Copyright Information Springer-Verlag London Limited 2006
  • Publisher Name Springer, London
  • eBook Packages Engineering
  • Print ISBN 978-1-84628-042-9
  • Online ISBN 978-1-84628-043-6
  • Series Print ISSN 1619-5736
  • Buy this book on publisher's site
Industry Sectors
Materials & Steel
Chemical Manufacturing
Finance, Business & Banking
Consumer Packaged Goods
Energy, Utilities & Environment
Oil, Gas & Geosciences