Data-driven through-life costing to support product lifecycle management solutions in innovative product development

Wai Ming Cheung, Antony R. Mileham, Linda B. Newnes, Robert Marsh, John D. Lanham

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

Innovative product usually refers to product that comprises of creativity and new ideas. In the development of such a new product, there is often a lack of historical knowledge and data available to be used to perform cost estimation accurately. This is due to the fact that traditional cost estimation methods are used to predict costs only after a product model has been built, and not at an early design stage when there is little data and information available. In light of this, original equipment manufacturers are also facing critical challenges of becoming globally competitive and increasing demands from customer for continuous innovation. To alleviate these situations this research has identified a new approach to cost modelling with the inclusion of product lifecycle management solutions to address innovative product development. The aim of this paper, therefore, is to discuss methods of developing an extended-enterprise data-driven through-life cost estimating method for innovative product development.

Original languageEnglish
Pages (from-to)122-142
Number of pages21
JournalInternational Journal of Product Lifecycle Management
Volume5
Issue number2-4
DOIs
Publication statusPublished - 1 Oct 2011

Keywords

  • Cost estimation
  • Digital data library
  • Innovative product development
  • PLM
  • Product lifecycle management
  • Through-life costing
  • TLC

ASJC Scopus subject areas

  • Business and International Management
  • Safety, Risk, Reliability and Quality
  • Management Science and Operations Research

Cite this

Data-driven through-life costing to support product lifecycle management solutions in innovative product development. / Cheung, Wai Ming; Mileham, Antony R.; Newnes, Linda B.; Marsh, Robert; Lanham, John D.

In: International Journal of Product Lifecycle Management, Vol. 5, No. 2-4, 01.10.2011, p. 122-142.

Research output: Contribution to journalArticle

@article{2c3b0b13a48044169945acb83b3e1532,
title = "Data-driven through-life costing to support product lifecycle management solutions in innovative product development",
abstract = "Innovative product usually refers to product that comprises of creativity and new ideas. In the development of such a new product, there is often a lack of historical knowledge and data available to be used to perform cost estimation accurately. This is due to the fact that traditional cost estimation methods are used to predict costs only after a product model has been built, and not at an early design stage when there is little data and information available. In light of this, original equipment manufacturers are also facing critical challenges of becoming globally competitive and increasing demands from customer for continuous innovation. To alleviate these situations this research has identified a new approach to cost modelling with the inclusion of product lifecycle management solutions to address innovative product development. The aim of this paper, therefore, is to discuss methods of developing an extended-enterprise data-driven through-life cost estimating method for innovative product development.",
keywords = "Cost estimation, Digital data library, Innovative product development, PLM, Product lifecycle management, Through-life costing, TLC",
author = "Cheung, {Wai Ming} and Mileham, {Antony R.} and Newnes, {Linda B.} and Robert Marsh and Lanham, {John D.}",
year = "2011",
month = "10",
day = "1",
doi = "10.1504/IJPLM.2011.043184",
language = "English",
volume = "5",
pages = "122--142",
journal = "International Journal of Product Lifecycle Management",
issn = "1743-5110",
publisher = "Inderscience Enterprises Ltd.",
number = "2-4",

}

TY - JOUR

T1 - Data-driven through-life costing to support product lifecycle management solutions in innovative product development

AU - Cheung, Wai Ming

AU - Mileham, Antony R.

AU - Newnes, Linda B.

AU - Marsh, Robert

AU - Lanham, John D.

PY - 2011/10/1

Y1 - 2011/10/1

N2 - Innovative product usually refers to product that comprises of creativity and new ideas. In the development of such a new product, there is often a lack of historical knowledge and data available to be used to perform cost estimation accurately. This is due to the fact that traditional cost estimation methods are used to predict costs only after a product model has been built, and not at an early design stage when there is little data and information available. In light of this, original equipment manufacturers are also facing critical challenges of becoming globally competitive and increasing demands from customer for continuous innovation. To alleviate these situations this research has identified a new approach to cost modelling with the inclusion of product lifecycle management solutions to address innovative product development. The aim of this paper, therefore, is to discuss methods of developing an extended-enterprise data-driven through-life cost estimating method for innovative product development.

AB - Innovative product usually refers to product that comprises of creativity and new ideas. In the development of such a new product, there is often a lack of historical knowledge and data available to be used to perform cost estimation accurately. This is due to the fact that traditional cost estimation methods are used to predict costs only after a product model has been built, and not at an early design stage when there is little data and information available. In light of this, original equipment manufacturers are also facing critical challenges of becoming globally competitive and increasing demands from customer for continuous innovation. To alleviate these situations this research has identified a new approach to cost modelling with the inclusion of product lifecycle management solutions to address innovative product development. The aim of this paper, therefore, is to discuss methods of developing an extended-enterprise data-driven through-life cost estimating method for innovative product development.

KW - Cost estimation

KW - Digital data library

KW - Innovative product development

KW - PLM

KW - Product lifecycle management

KW - Through-life costing

KW - TLC

UR - http://www.scopus.com/inward/record.url?scp=80055007034&partnerID=8YFLogxK

U2 - 10.1504/IJPLM.2011.043184

DO - 10.1504/IJPLM.2011.043184

M3 - Article

VL - 5

SP - 122

EP - 142

JO - International Journal of Product Lifecycle Management

JF - International Journal of Product Lifecycle Management

SN - 1743-5110

IS - 2-4

ER -