Cost Engineering Capability Study

This work came about as a result of a Cost Engineering event, hosted by the Knowledge West Project during January of this year.  Following the event a small working group of aerospace and defence companies was formed to conduct an investigative piece of research into Cost Engineering Capability Assessment practices.

The study evaluates the use of various tools for cost estimating assessment and illustrates the diversity of approaches to cost estimating within these industries.  The report also identifies the problems higher tier companies face in maintaining cost information to increase the authority of their own ‘should cost’ assessment of their suppliers’ manufactured products.  Whist recognising the need for different cost estimation methods one recommendation of the report is the pursuit of standardisation of how cost estimation is conducted in the industry.

Following the completion of this report the team from the Universities of Bath and the West of England is developing plans for significant further research to evaluate more closely how cost information is prepared and exchanged within the aerospace and defence sectors.  We are also working to define and propose a number of possible short courses for continuing professional development in this field.  

If you would like to know more about any of the above then please do not hesitate to get in touch. The researchers involved would be very interested to hear your comments and feedback.