The Alternative Cobec Cost Model is not meant to replace the current Cobec Cost Model. This meeting will take a deeper dive into the new Alternative Cost Model, which is also built in Microsoft Excel but does not contain macros. A template of the new Alternative Cost Model will be shared in the Cost CoE Teams Channel ahead of the meeting. This will be the first of multiple Cost CoE-only Lunch & Learns about this topic. Today’s topic will be to show/walk-through a template and simple example of the new model without risk (Point Estimate) to show how the model works. Future meetings will: (1) review/answer questions, and (2) discuss how risk is applied on the new Alternative Cost Model (since risk is applied differently compared to the current Cobec cost model). More to come!
To see a recording of this Training, see this link:
Cost CoE-only Lunch & Learn_ The Alternative Cobec Cost Model-20241203_120156-Meeting Recording.mp4
This course provides an overview and guide to the FAA Economic Factors workbook.
- Teacher: Stephen Ketcham
- Teacher: Memi Oladapo
Cost estimators are often presented with incomplete data sets from which they must develop business case solutions. Understanding, interpreting, and improving the data integrity are critical factors for cost estimate accuracy. In this use case, the cost estimators analyze and interpret incomplete and subjective data sets, forecast spares depletion, and estimate obsolescence. Using innovative data mining and text analysis techniques, the estimators demonstrate how improved data can result in better cost estimates and business cases.