Cost estimating software considers design impact

MTI Systems has released Costimator OEM V9.0 cost estimating software. It gives users an expanded set of feature-based cost models for use in the system's feature-based costing methodology.

The feature library includes cost models for prismatic and cylindrical machined components, sheet metal fabrication, and secondary nonmachining operations. It helps design engineers understand the impact that varying product design alternatives have on cost. Understanding early in the product development life cycle how new and alternative products designs affect cost allows companies to cut costs out of their products before reaching production, the manufacturer reports.

Another feature is the Cost Modeler, which enables users to develop their own process or feature-based cost models. With the feature, users can bring previously developed Excel cost models into the cost estimating software and create their own cost models.

The software uses three types of estimating methods: feature-based, bottoms-up, and parametric. Feature-based estimating enables design engineers to estimate the cost of alternative designs based on part features. Bottoms-up, or activity-based, estimating provides procurement organizations with the manufacturing times and costs it needs to negotiate with suppliers and identify what a part should cost. Parametric estimating provides users with an instant estimating method based on historical cost data.