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An advanced cost estimation methodology for engineering systems
dc.contributor.authorHart, Christopher Gregoryen_US
dc.contributor.authorHe, Zhongen_US
dc.contributor.authorSbragio, Ricardoen_US
dc.contributor.authorVlahopoulos, Nickolasen_US
dc.date.accessioned2012-03-16T15:57:46Z
dc.date.available2013-05-01T17:24:40Zen_US
dc.date.issued2012-03en_US
dc.identifier.citationHart, C.G.; He, Z.; Sbragio, R.; Vlahopoulos, N. (2012). "An advanced cost estimation methodology for engineering systems." Systems Engineering 15(1): 28-40. <http://hdl.handle.net/2027.42/90246>en_US
dc.identifier.issn1098-1241en_US
dc.identifier.issn1520-6858en_US
dc.identifier.urihttps://hdl.handle.net/2027.42/90246
dc.description.abstractA mathematically advanced method for improving the fidelity of cost estimation for an engineering system is presented. In this method historical cost records can be expanded either through the use of local metamodels or by using an engineering build‐up model. In either case, the expanded data set is analyzed using principal component analysis (PCA) in order to identify the physical parameters, and the principal components (PCs) which demonstrate the highest correlation to the cost. A set of predictor variables, composed of the physical parameters and of the multipliers of the principal components which demonstrate the highest correlation to the cost, is developed. This new set of predictor variables is regressed, using the Kriging method, thus creating a cost estimation model with a high level of predictive capability and fidelity. The new methodology is used for analyzing a set of cost data available in the literature, and the new cost model is compared to results from a neural network based analysis and to a cost regression model. Further, a case study addressing the fabrication of a submarine pressure hull is developed in order to illustrate the new method. The results from the final regression model are presented and compared to results from other cost regression methods. The technical characteristics of the new novel general method are presented and discussed. © 2011 Wiley Periodicals, Inc. Syst Engen_US
dc.publisherWiley Subscription Services, Inc., A Wiley Companyen_US
dc.subject.otherShip Designen_US
dc.subject.otherComplex Systemsen_US
dc.subject.otherMultidisciplinary Optimizationen_US
dc.subject.otherNaval Architectureen_US
dc.titleAn advanced cost estimation methodology for engineering systemsen_US
dc.typeArticleen_US
dc.rights.robotsIndexNoFollowen_US
dc.subject.hlbsecondlevelIndustrial and Operations Engineeringen_US
dc.subject.hlbtoplevelEngineeringen_US
dc.description.peerreviewedPeer Revieweden_US
dc.contributor.affiliationumNaval Architecture and Marine Engineering Department, College of Engineering, University of Michigan, Ann Arbor, MI 48105en_US
dc.contributor.affiliationumNaval Architecture and Marine Engineering Department, Mechanical Engineering Department, College of Engineering, University of Michigan, Ann Arbor, MI 48105en_US
dc.contributor.affiliationotherMichigan Engineering Services, LLC, Ann Arbor, MI 48105en_US
dc.contributor.affiliationother3293 Taney Lane, Fal ls Church VA 22042en_US
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/90246/1/20192_ftp.pdf
dc.identifier.doi10.1002/sys.20192en_US
dc.identifier.sourceSystems Engineeringen_US
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dc.owningcollnameInterdisciplinary and Peer-Reviewed


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