Systems engineers need to participate as productive members of interdisciplinary teams.

Cost Engineering

With the complexities involved, it should not come as a surprise that pricing is considered to be an art by many cost managers. Establishing the right information on customer cost budgets and competitive pricing is an essential element in this art of pricing. The unreliability of the information base can lead to wrong or misleading information in many cases. However a disciplined approach derived from combining the art of pricing and science is very beneficial.

NORASI focuses the following cost engineering tasks

Differentiate between costing and pricing,

Establish a framework for the comparison of pricing strategies on projects,

Analyze profitability and establish return on investments (ROI) and return on analysis (ROA),

Establish the return on sales (ROS) parameters, and

Understand the concept of break-even analysis for any business situation.

Model-Based Systems Engineering related to Cost Engineering