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Integrated cost estimation based on information management

For adequate Cost Engineering, information generated and affected by different engineering tasks as well as effective communication are prerequisites. In the context of Concurrent Engineering, Cost Engineering requires an information management system. The Manufacturing Engineering Reference Model incorporates an appropriate basis for the management of cost information. All cost information is stored, based on information structures related to the Reference Model. This enables the storage of cost information differentiated according to cost driver and aggregation level. An important representation aspect is the ability to construct different views with the same information. For different types of cost estimation, the role of information management and the application of the information structures are described. An architecture for cost estimation, employing a previously developed information management method, is proposed and the use of this architecture is explained. It appears that the employment of the cost estimation architecture and the application of the information management method make a truly integrated cost control system possible.