Computer Aided Cost Estimating
Year: 2014
Editor: Erik Bohemia, Arthur Eger, Wouter Eggink, Ahmed Kovacevic, Brian Parkinson, Wessel Wits
Author: Ehlhardt, Huub
Series: E&PDE
Institution: Faculty of Engineering Technology, Section of Product Design, University of Twente and Philips Innovation Services, Eindhoven, The Netherlands
Section: Design Education in Business and Industry
Page(s): 320-326
ISBN: 978-1-904670-56-8
Abstract
Digitalization provides us with increasingly sophisticated tools, such as 3D CAD and ERP, that have become drivers of innovation in many industries. Traditionally, estimating product cost requires both craftsmanship as well as elaborative calculations. Product cost estimating practices are currently advancing with new digital approaches that, in this paper, are referred to as Computer Aided Cost Estimating (CACE) tools. CACE skill will give new engineers entering the manufacturing industry an edge, especially those in positions in which the cost of goods is an important aspect. This paper describes a new family of engineering tools referred to as CACE, elaborates on the use of cost estimating through the product lifecycle, and relates this to the educational context. The paper contemplates how CACE software might continue to develop and provides suggestions on how best to incorporate the development of CACE skills into engineering curricula.
Keywords: Cost engineering, cost estimation, Computer Aided Design, product lifecycle management, teaching software