5. Calibrate, test and formalize the cost model

This comprehensive modeling requires a thorough understanding of the company's operations. For this reason, it is a good idea to model projects that have already been carried out within the company.

Indeed, as we have already seen, the tool integrates predefined calculation modes linked to the type of equipment to be developed. If the results are out of line, we need to analyze the reasons and understand whether the analysis is inaccurate, or whether the product needs to be broken down into sub-products that can be subjected to the model.

The next step is to make the cost model robust. The model needs to be tested on one or more existing projects, and its relevance to the industry needs to be assessed on a few real project cases to measure its relevance, scope and accuracy.

In this way, a range of estimates can be...