A Multilayer Taxonomy of Cost Estimation Techniques, Looking at the Whole Product Lifecycle

2017 ◽  
Vol 140 (3) ◽  
Author(s):  
Stefania Altavilla ◽  
Francesca Montagna ◽  
Marco Cantamessa
Keyword(s):  
Systematic Review ◽  
Decision Making ◽  
Life Cycle ◽  
Cost Estimation ◽  
Product Life Cycle ◽  
Recent Literature ◽  
Estimation Methods ◽  
Product Lifecycle ◽  
Conscious Decision ◽  
Decision Making Tool

Product cost estimation (PCE) still draws the attention of researchers and practitioners, even though it has been extensively discussed in the literature for more than 20 years. This is due to its central impact on the company's performance. Nowadays, the adoption of cost estimation methods seems to be limited, despite the multitude of examples and applications available. A possible reason is the multitude of approaches and techniques proposed in the literature, which, instead of representing a guide for enabling possible implementations, actually create confusion and ambiguity on their appropriateness for a particular application. Hence, this paper aims to provide a systematic review of the recent literature in the field of PCE, and intensively investigates the aspects that can enable a more conscious decision on the type of technique to be adopted. This results in the identification of five different perspectives, which can be taken simultaneously into account. By combining the different viewpoints, a new multilayer framework is derived, with a specific focus on the whole product life cycle. The proposed framework can be used as a decision-making tool by both researchers and practitioners. In fact, the former group can benefit from the new structure, as a way to identify new areas of possible research opportunities. The latter group is provided an operative guide for the application in industrial contexts.

scholarly journals Opportunities and challenges for the inclusion of patient preferences in the medical product life cycle: a systematic review

2019 ◽  
Vol 19 (1) ◽  
Author(s):  
Rosanne Janssens ◽  
Isabelle Huys ◽  
Eline van Overbeeke ◽  
Chiara Whichello ◽  
Sarah Harding ◽  
...  
Keyword(s):  
Systematic Review ◽  
Decision Making ◽  
Life Cycle ◽  
Patient Preferences ◽  
Product Life Cycle ◽  
Grey Literature ◽  
Medical Product ◽  
Preference Heterogeneity ◽  
Product Life ◽  
Benefit Risk Assessment

Abstract Background The inclusion of patient preferences (PP) in the medical product life cycle is a topic of growing interest to stakeholders such as academics, Health Technology Assessment (HTA) bodies, reimbursement agencies, industry, patients, physicians and regulators. This review aimed to understand the potential roles, reasons for using PP and the expectations, concerns and requirements associated with PP in industry processes, regulatory benefit-risk assessment (BRA) and marketing authorization (MA), and HTA and reimbursement decision-making. Methods A systematic review of peer-reviewed and grey literature published between January 2011 and March 2018 was performed. Consulted databases were EconLit, Embase, Guidelines International Network, PsycINFO and PubMed. A two-step strategy was used to select literature. Literature was analyzed using NVivo (QSR international). Results From 1015 initially identified documents, 72 were included. Most were written from an academic perspective (61%) and focused on PP in BRA/MA and/or HTA/reimbursement (73%). Using PP to improve understanding of patients’ valuations of treatment outcomes, patients’ benefit-risk trade-offs and preference heterogeneity were roles identified in all three decision-making contexts. Reasons for using PP relate to the unique insights and position of patients and the positive effect of including PP on the quality of the decision-making process. Concerns shared across decision-making contexts included methodological questions concerning the validity, reliability and cognitive burden of preference methods. In order to use PP, general, operational and quality requirements were identified, including recognition of the importance of PP and ensuring patient understanding in PP studies. Conclusions Despite the array of opportunities and added value of using PP throughout the different steps of the MPLC identified in this review, their inclusion in decision-making is hampered by methodological challenges and lack of specific guidance on how to tackle these challenges when undertaking PP studies. To support the development of such guidance, more best practice PP studies and PP studies investigating the methodological issues identified in this review are critically needed.

scholarly journals A Modular Framework for the Life Cycle Based Evaluation of Aircraft Technologies, Maintenance Strategies, and Operational Decision Making Using Discrete Event Simulation

Aerospace ◽  
2021 ◽  
Vol 8 (7) ◽  
pp. 187
Author(s):  
Ahmad Ali Pohya ◽  
Jennifer Wehrspohn ◽  
Robert Meissner ◽  
Kai Wicke
Keyword(s):  
Decision Making ◽  
Life Cycle ◽  
Discrete Event Simulation ◽  
Product Life Cycle ◽  
Discrete Event ◽  
Estimation Methods ◽  
Maintenance Strategies ◽  
Event Simulation ◽  
Temporal Space ◽  
The Impact

Current practices for investment and technology decision making in aeronautics largely rely on regression-based cost estimation methods. Although quick to implement and easy to use, they suffer from a variety of limitations, both in temporal space and scope of applicability. While recent research and development in this area addresses these to a certain extent, aerospace engineering still lacks a flexible and customizable valuation framework. To this end, a generic environment for economic and operational assessment of aircraft and related products named LYFE is presented. This tool employs a discrete event simulation which models the product life cycle from its order through decades of operation and maintenance until disposal. This paper introduces its key characteristics and default methods alongside its modular program architecture. The capabilities are demonstrated with a case study of on-wing engine cleaning procedures which are triggered by a customized decision making module. Thereby, the impact on engine health, fuel efficiency and overall economic viability is quantified. On the whole, the framework introduced in this paper can be used to analyze not only physical products but also operational procedures and maintenance strategies as well as specified decision making algorithms in terms of their impact on an aircraft’s or system’s life cycle.

The Quality Data Model of Product Lifecycle and Base Application in Electronic Components Industry

2014 ◽  
Vol 635-637 ◽  
pp. 1948-1951
Author(s):  
Yao Guang Hu ◽  
Dong Feng Wu ◽  
Jing Qian Wen
Keyword(s):  
Life Cycle ◽  
Data Analysis ◽  
Data Model ◽  
Product Life Cycle ◽  
Business Processes ◽  
Quality Data ◽  
Electronic Components ◽  
Product Lifecycle ◽  
Related Data ◽  
Base Application

On the basis of the electronic components business processes and the analysis of the quality data related, a model based on the object entity of the product life cycle is proposed. Object entity as the carrier of the related data this model mergers and reorganizes the related business, meanwhile links the entity through the revolved information of the quality data model thus achieving the integrity of the business in both time and space. This data model as the basis, can effectively realize the integration and sharing of quality data, facilitates the quality data analysis and quality traceability, and improve the capabilities of quality data management for the enterprise.

scholarly journals Integrated framework for strategic cost management based on target costing, ABC, and product life-cycle in PDP: Empirical experience

2020 ◽  
Vol 10 (1) ◽  
pp. 31-43
Author(s):  
Maísa Martins Ferreira ◽  
Selma Regina Martins Oliveira
Keyword(s):  
Life Cycle ◽  
Product Life Cycle ◽  
Development Process ◽  
Cost Management ◽  
Business Management ◽  
Target Costing ◽  
Product Lifecycle ◽  
Product Life ◽  
Integrated Framework ◽  
Strategic Cost Management

This study aims to contribute to the planning process on product management. To do so it presents a integrated framework based on strategic cost management, using the methods target costing, activity-based cost (ABC) based on the product lifecycle. This proposal was structured as it follows: Phase 1: determining Target Cost; Phase 2: determining ABC defrayal to the light of the defrayal based on the product lifecycle. The research was elaborated to the light of specialized literature, from which we extracted the variables to formulate the methodology. After that, to show the feasibility and plausibility of the method we applied a hypothetical case study based on the development process of a product to the light of a course/MBA in Business Management in Institution of Higher Education in Brazil. The results were satisfactory and validated the proposal suggested. The survey findings indicate that the integrated method between ABC, target costing and products lifecycle applied in MBA Business Management is quite satisfactory.   Keywords: Framework, target costing, activity-based cost (ABC), costing based on product life-cycle, product development process (PDP);

A Strategic Idea Generation Method for Eco-Business Planning

2009 ◽  
Author(s):  
Shinsuke Kondoh ◽  
Nozomu Mishima
Keyword(s):  
Decision Making ◽  
Life Cycle ◽  
Product Life Cycle ◽  
Idea Generation ◽  
Strategic Decision ◽  
Business Strategies ◽  
Business Planning ◽  
Environmental Load ◽  
Laptop Computer ◽  
Life Cycle Design

Environmental consciousness has gained increasing interest in recent years, and product life cycle design that aims to maximize total value while minimizing environmental load and costs should be implemented. To achieve that, the processes of idea generation and decision-making for eco-business strategies, as well as the design of a target product and its life cycle options, should be systematically supported. This paper proposes a strategic decision-making method for eco-business planning so that a designer can easily find a set of eco-business ideas that effectively improve environmental and economic performance simultaneously. A decision-making procedure based on this method is also illustrated with a simplified example of a laptop computer business.

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