Part cost estimation at early design phase

Although 70% of part cost is determined during the early design stage, designers rarely accurately estimate the costs of their designs. Based on extensive literature review, in-depth industrial survey and close collaboration with multiple manufacturers, forty factors were identified as governing part cost and ranked according to cost impact. Based on parameter ranking and availability at the early stages of design, a cost estimator for designers is proposed. As the design progresses and more parameters become available, a more accurate cost model is derived and proposed to manufacturers. Results are analyzed and compared to actual manufacturing costing demonstrating good fit. (C) 2014 CIRP.