Cost engineering in practice – Empirical investigation of cost calculation tools

Cost calculation systems are increasingly being implemented in original equipment manufacturing as well as in supplying companies. However, the benefits of these systems in terms of cost and time reduction have not yet been scientifically investigated. In an empirical study, different software solutions for product cost calculation in practice are analyzed and potential benefits identified. The results show that software packages based on CAD, ERP or PLM (1) combined with stand-alone calculation tools (2) are a promising way for cost estimation in industrial product development.