Case Study: a major defense contractor achieves faster, more accurate early cost estimates with PRICE Systems TruePlanning

Defense Contractor Reduces Estimating Time and Effort, While Supporting Strategic Initiatives and Efficiency

A major defense contractor faced the challenge of creating early design-phase cost estimates, a time-consuming process that relied on scarce subject matter experts and a limited "similar-to" parts database. This hindered the rapid design adjustments needed to meet strict program budgets. To find a better approach, they turned to their existing licenses for the PRICE TruePlanning® Cost Estimating Framework.

The contractor tested PRICE TruePlanning by modeling 48 historical machined parts. The solution provided fast, accurate estimates right out of the box, with 60% of parts forecast within +50% of actual cost. This enabled the team to generate estimates in just 15 minutes without an SME—a 75% time reduction—and with first-order accuracy comparable to their previous, more labor-intensive methods.