Project Projection Infographic
Demystifying Parametric Cost Estimation
Think of an ideal world where even the largest project can be defined and described using just few, simple steps. Now think of how powerful it would be to change project variables and in seconds, see how that affects the project outcome. Imagine having a solution which will identify and assign highly accurate risk levels for achieving project deliverables.
This is Project Management using SEER by GALORATH
What is SEER?
SEER is a “Parametric Cost Estimation” solution for project management – “parametric” is just a fancy word for “variable”.
- A predictive mathematical algorithm, which does the “heavy lifting” involved with analyzing project variables, how they interact with one another and how they contribute to costs and timescales;
- A risk determination solution which will calculate the risk associated with the range of project outcomes based upon changing project parameters; and
- A proprietary database of information on a very large number of completed, real-world projects.
SEER is NOT a traditional Project Management Tool rooted in historical data and relying upon workflows.
What Makes SEER Different?
- SEER is predictive.
- SEER is top down.
- SEER can be used at a relatively early stage.
- SEER is a trusted third party.
- SEER estimates capture the complex dynamics of the software development process.
- SEER is able to handle a very wide range of project circumstances and contingencies.
- SEER estimates are probabilistic, permitting a more nuanced, risk-based perspective.
SEER is trusted by the U.S. Department of Defense, Boeing, Ford Motor Company, Northrop Grumman, Lockheed Martin, NASA, IRS, US Social Security Administration, Raytheon, National Security Agency (NSA), Honeywell, General Dynamics, UnitedHealth Care, Oracle, Bank of Canada, Bank of Montreal, Euroclear, BAE Systems and many more.
What Does SEER Do?
SEER’s highly interactive design let’s project managers “work” project estimates and explore tradeoffs for the optimal project mix, or you can simply obtain an estimate in seconds.
- Quickly describe your project – no matter how big or complicated;
- Analyze and test tradeoffs between parameters; and
- Establish a risk profile for project variables and their impact on the project.
In business terms, this means:
- Cost reduction
- Accurate TOTAL COST OF OWNERSHIP (TCO) estimates;
- Accurate MINTENANCE COSTS; and
- Defendable and substantiated “SHOULD COST” estimates.
In business terms this means:
- Reduced Costs
- Reduced Risks
- Effective Resource Planning
- Projects Delivered on Time
SEER by GALORATH delivers Business Competitive Advantage
Lockheed Martin Mission Systems Saves 6 Man-Months per Proposal with SEER for Software
Lockheed Martin Mission Systems was tasked with delivering the Range Standardization and Automation(RSA) Program in 1995 for the U.S. DOD and the modernization of the two spacelift sites in the US. This required the submission of multiple proposals, incurring a significant cost and taking valuable time. Using SEER-SEM, Lockheed Martin was able to save SIX MAN-MONTHS per Proposal in the estimation process.
Improved Commercial-off-the-Shelf (COTS) Integration Estimates
Northrop Grumman Mission Systems is a leading global integrator of complex, mission-enabling systems and services for federal agencies engaged in defense and intelligence activities, as well as federal civilian organizations, state and local governments and commercial clients.
A Northrop Grumman Mission Systems project involved building the software system for a ground station. The purpose was to improve launch and control services of military satellites by increasing automation and simplifying launch operation. The system supported the Air Force’s day-to-day mission of providing command and telemetry data via the Air Force Control Network.
Northrop Grumman Mission System’s original proposal was based largely on internal research and development efforts undertaken at the company’s own expense. The cost of the project was estimated using Galorath Incorporated’s SEER for Software estimation model, a parametric model that is a standard for software cost prediction and modeling at Northrop Grumman Mission Systems.
The project was completed on schedule, met the customer’s expectations, and declared a success. Upon completion, the work analysis was put through SEER-SEM and the results fell within seven percent of the actuals.
The job stood out because of its high COTS content. The COTS integration costs were not separately identified or estimated on the project so analysts wanted to see if they could get closer by dissecting the COTS elements. They decided to revisit the estimate to determine whether it could have been improved by a new method of estimating COTS integration costs that had been developed recently for SEER, but had not been used on an actual project.
Seven of the eight products were significantly closer to reality using the modified modeling methods. The overall effort and schedule predicted were within two percent of the program actuals. Based on these results, Northrop Grumman Mission Systems estimators plan to use this same approach to verify the process and productivity profiles of on-going COTS integration programs nearing delivery. The results will be used to better determine intermediate milestones and help quantify the effects of mid-term COTS fallout.
General Dynamics Banishes Voodoo Economics with SEER
General Dynamics grappled with the “voodoo economics” of estimating costs in software development projects, and controlling them in the face of escalating cost overruns. The major challenge was in estimating software costs, widely considered to be a “black art” where a 100% margin of error was standard for cost. Even then, estimating lifecycle costs and identifying the fundamental drivers for project deliverables was beyond the ability of many companies. SEER for Software provides General Dynamics with the ability to quickly and accurately estimate costs and the resources required, including estimates on developer experience levels, to meet software development deliverables on budget and on time.