An attempt is made to translate five generic key performance indicators (KPIs) into a continuous real-time cost function in batch order-based manufacturing environment. The challenge of controlling and optimizing resource utilization, production efficiency, product-process quality, environmental impact, inventory was specified by microelectronics hard metal composite manufacturers. motivation f...

This study examines the effects of the fit between generic manufacturing strategies (GMS) and manufacturing objectives upon strategically relevant plant level performance outcomes (e.g. cost-efficiency, quality, delivery, flexibility, and innovation). The proposition that plants with generic manufacturing strategies that are consistent (fit) with operational objectives will experience relativel...

Cost estimation is an important part of project planning. Over the years different approaches have developed, taking uncertainty into account in the cost estimation processes in order to tackle the dynamic nature of projects. However, when implementing these approaches, some challenges have been revealed. The aim in a cost estimation process is to establish a realistic overview of the total pro...

Now a day’s software cost/effort estimation is a very complex job to do. Several estimation techniques have been developed in this regard. This assessment of parameters like, time, cost, and number of staff required sequentially which in turn is to be done at an early stage. Constructive Cost model which is also known as COCOMO model was one of the best model to estimate the cost and time in pe...

A process-based parametric model for product cost estimation has been developed in this paper. In the model, the production activities of a manufacturing system are classified and their consumption characteristics (mainly the activity cost rates) are analyzed with the Activity-based costing (ABC) method. The relationship from product parameters (the order quantity and design parameters) to the ...

earned value management (evm) is the process of integrating the time and cost management within the framework of project scope management. the earned value has provided methods for predicting the cost for projects. in large part, these methods have not been improved upon since their beginnings and remain unsubstantiated as to accuracy. in this direction, several mathematics formulas have been d...

Contingency is necessary to mitigate and control risk associated with construction projects. Successful contingency estimation and risk mitigation strategies can help project managers to effectively control cost and schedule. Some practitioners mitigate risk by transferring it to another party with less effort and minimum cost. However, this may lead to undesirable results such as; useless depl...

The second level CDIO project of the mechanical manufacturing technology and fixture design is designed on the basis of CDIO educational idea and the requirements of undergraduate educational goal in machine design manufacture and automation specialty. According to the capacity requirements of a qualified machinery manufacturing engineer, the project is centered to process designs and the proce...

Cost estimation for large projects can be difficult because of many complex factors and uncertainties involved. It is often the case that only very rough guesses of actual costs may be provided. In this paper, we will examine the various types of uncertainties in the cost estimation problem of the Myrrha project. We will then use a few examples originated from the conceptual phase of the projec...

Contingency is a ubiquitous component of project cost estimating. This paper provides a review of the literature pertaining to the estimating of project cost contingency. It describes the flaws of the tradition percentage method for estimating project cost contingency and sets out more robust estimation methods regression analysis, Monte Carlo simulation and artificial neutral networks. In part...