Cost estimating system using parametric estimating and providing a split of labor and material costs

US5793632A · kind A · utility

Assignee

• Lockheed Martin Corporation · US

Inventors

• Bruce E. Fad · Cherry Hill, US
• Roy Bart Summers · Middleton, US
• Anthony DeMarco · Newport Beach, US
• Todd Geiser · Readington, US
• James J. Walter · Readington, US
• Ben Chackman · Marlton, US
• Earl King · Beavercreek, US

Key dates

• Filing date: Mar 26, 1996
• Grant date: Aug 11, 1998
• Expiry date: Mar 26, 2016

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0283
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A parametric cost estimating model, which can be software-based, provides a capability for inputting specific labor rates and burdening or overhead information for a given installation. Other inputs are project-specific depending on whether a hardware or a software system is being estimated. The process and model provide estimating information as to costs to develop and produce specific hardware or software systems and also provide a split as to labor and material costs for such systems.