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Economics and My Daily Life

In: Business and Management

Submitted By teologlou
Words 1172
Pages 5
Airbus Defence and Space
Challenge: Verify cost estimates to ensure bids are priced to win but are accurate and profitable for each stakeholder in a project’s supply chain.

Solution: Create a Cost Estimation Framework (CEF) that uses TruePlanning® top-down, parametric estimating to set cost targets with TrueMapper® feature to cross-check estimators’ bottom-up estimates in Excel based on Work Breakdown Structure (WBS). Improve knowledge capture by creating an historical data repository of cost models to source information for future projects.

“PRICE provides us with more than your typical vendor/customer relationship; we work closely together in a real partnership. When we wanted to verify cost estimates for all bid processes that go into proposals, they listened, understood and collaborated with us on precisely what we wanted to achieve with an integrated Cost Estimation Framework.”
Manuel Massini Head of Cost Engineering Airbus Defence and Space

Results: A Cost Estimation Framework providing the tools and methods to enhance and integrate bid processes across estimating teams spread throughout the organization, improving the accuracy and credibility of estimates, data sharing, collaboration, and competitive yet profitable bid pricing for advanced projects. Bid managers gain better insights to evaluate risks, react to issues, and make better business decisions. Work Package Delivery managers operate with more confidence in estimated budget, scheduling and their ability to meet target completion dates. Reliable and robust bids can be priced to win and profitably delivered with stronger project control from beginning to end. One Company’s Approach to Winning Business Profitably Before the formation of Airbus Defence and…...

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