Estimating cost & improving trade-off between performance and cost at the early design stages

M Saravi, Linda Newnes, T Mileham, Yee Mey Goh

Research output: Chapter in Book/Report/Conference proceedingChapter

2 Citations (Scopus)

Abstract

Typically 70% to 80% of a product's cost is said to have been committed by the end of the conceptual design stage [1]. Because of the importance of the conceptual stage, cost estimation should be carried out as accurately as possible to provide valuable information to product designers. Despite this level of built in costs at the conceptual stage of design, having useful cost estimates at this stage is very difficult, due to the limited availability of data, especially for new products when product specifications are expressed as a range of values. The main aim of the research presented in this paper is to use the Taguchi method of Design of Experiments in order to use the sparse and available conceptual information more effectively to estimate the cost of a product. A review of the literature about cost estimation techniques and the available information at the conceptual stage of design is presented. A case study is also presented and used to illustrate how the Taguchi method of Design of Experiments is applied in order to assist designers at the conceptual design stage to reduce uncertainty of cost estimates and to carry out a more informed trade-off between performance and cost.
Original languageEnglish
Title of host publicationProceedings of ICED 09, the 17th International Conference on Engineering Design, 2009
EditorsM. N. Berghandahl, M. Grimheden, L. Leifer
Place of PublicationGlasgow, U. K.
PublisherDesign Society
Pages81-92
ISBN (Print)9781904670117
Publication statusPublished - 2009
EventInternational Conference on Engineering Design, ICED'09 - Stanford University, Stanford, CA, USA United States
Duration: 24 Aug 200927 Aug 2009

Conference

ConferenceInternational Conference on Engineering Design, ICED'09
CountryUSA United States
CityStanford University, Stanford, CA
Period24/08/0927/08/09

Fingerprint

Cost estimating
Costs
Taguchi methods
Conceptual design
Design of experiments
Availability
Specifications

Cite this

Saravi, M., Newnes, L., Mileham, T., & Goh, Y. M. (2009). Estimating cost & improving trade-off between performance and cost at the early design stages. In M. N. Berghandahl, M. Grimheden, & L. Leifer (Eds.), Proceedings of ICED 09, the 17th International Conference on Engineering Design, 2009 (pp. 81-92). Glasgow, U. K.: Design Society.

Estimating cost & improving trade-off between performance and cost at the early design stages. / Saravi, M; Newnes, Linda; Mileham, T; Goh, Yee Mey.

Proceedings of ICED 09, the 17th International Conference on Engineering Design, 2009. ed. / M. N. Berghandahl; M. Grimheden; L. Leifer. Glasgow, U. K. : Design Society, 2009. p. 81-92.

Research output: Chapter in Book/Report/Conference proceedingChapter

Saravi, M, Newnes, L, Mileham, T & Goh, YM 2009, Estimating cost & improving trade-off between performance and cost at the early design stages. in MN Berghandahl, M Grimheden & L Leifer (eds), Proceedings of ICED 09, the 17th International Conference on Engineering Design, 2009. Design Society, Glasgow, U. K., pp. 81-92, International Conference on Engineering Design, ICED'09, Stanford University, Stanford, CA, USA United States, 24/08/09.
Saravi M, Newnes L, Mileham T, Goh YM. Estimating cost & improving trade-off between performance and cost at the early design stages. In Berghandahl MN, Grimheden M, Leifer L, editors, Proceedings of ICED 09, the 17th International Conference on Engineering Design, 2009. Glasgow, U. K.: Design Society. 2009. p. 81-92
Saravi, M ; Newnes, Linda ; Mileham, T ; Goh, Yee Mey. / Estimating cost & improving trade-off between performance and cost at the early design stages. Proceedings of ICED 09, the 17th International Conference on Engineering Design, 2009. editor / M. N. Berghandahl ; M. Grimheden ; L. Leifer. Glasgow, U. K. : Design Society, 2009. pp. 81-92
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