Parametric Analysis

Everyone involved in preparing cost estimates is familiar with the dilemma: should we prepare a detailed cost estimate or use an analogy-based approach? This choice is partly determined by the available time, data and required level of accuracy. Parametric Analysis offers an alternative solution to this dilemma!

When estimating the costs of complex projects, historical cost data from previous projects can be particularly useful. Parametric Analysis provides a quick cost estimate at a stage of the project when detailed information is not yet available. A parametric cost model determines the statistical relationship between historical costs (historical data) and one or more physical parameters. This provides a mathematically based best fit for your project.

Four meetings are organised each year at the premises of one of the participants. During each meeting, one case study is examined. Historical project data provided for the case is analysed and normalised in small groups, with the aim of identifying a reliable cost relationship. The results of this analysis are presented to the case owner and/or published in an article.

About SIG PA
The DACE Special Interest Group Parametric Analysis aims to support the introduction of Parametric Analysis and the techniques on which it is based. By creating a network of users, specialists and interested professionals, knowledge can be transferred, experiences exchanged, and tools and methodologies explored in greater depth.

In addition, SIG PA aims to develop guidance on how Parametric Analysis can be implemented across all sectors of industry.

• EADS
• Liebherr
• Rheinmetall

Success stories Galorath: 

• Social Security
• Lockheed Martin
• General Dynamics
• Northrop

Contact

For general contact details, click here.

Participation in SIG PA is open to all DACE and ISPA members, as well as those wishing to become members. You can register for SIG PA by e-mail or via the website www.dace.nl.

The Chair of SIG PA is René Berghuijs.