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- W1603927917 abstract "Life cycle costing (LCC) is used for solution design and is required for systems decision making. Estimating the cost of a system is an essential component of the systems decision process. Since many decisions are based on cost, it is imperative that the estimates constructed be as accurate as possible. This chapter introduces some of the fundamental concepts and techniques necessary for developing a meaningful cost estimate of a system. Life cycle cost estimating, like many things in the systems engineering process, is an iterative task. Costs estimates should undergo updates as the system is defined and as the system moves through the various phases of the life cycle. The chapter discusses the evolution of the cost estimating process. A variety of techniques have been introduced including estimating by analogy, parametric cost estimates, learning curve analysis, and Monte Carlo analysis. Controlled Vocabulary Terms life cycle costing; software cost estimation; systems engineering" @default.
- W1603927917 created "2016-06-24" @default.
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- W1603927917 date "2010-11-01" @default.
- W1603927917 modified "2023-10-18" @default.
- W1603927917 title "Life Cycle Costing" @default.
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- W1603927917 doi "https://doi.org/10.1002/9780470926963.ch5" @default.
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