Cost data modelling and searching to support low-volume, high-complexity, long-life defence system development

This article presents a data modelling and a semi-automatic data searching method to support cost estimation in the product development process, particularly for low-volume, high-complexity and long-life products typified by defence products and systems. This article covers a literature review in the area of cost estimation in product development, the data sets needed to perform cost estimation, the method of modelling the data and the techniques of supporting cost data searching. The proposed method will be used to support cost estimation of product development decisions for defence electronic products. To compare with the traditional approach, the method has demonstrated that by creating a centralized environment such as the ‘databases and using a data-driven’ approach. The system is made more efficient by reducing the number of processes in carrying out cost estimation, and thus, this provides more information to make an informed concept design decision during the product development process based on the system’s competence of instant cost estimation feedback.