Creating a Framework for Cost Analysis: The Cost Analysis Support Tool (CAST)
Methods and Models II Track
There are many redundancies encountered when creating new cost models, and many operations that can be automated. CAST is a tool created by TASC that provides a framework to accelerate the process of building a cost model. Estimators are able to execute processes at the click of a button that would otherwise be very time consuming to create from scratch or complete by rote. They are able to transfer over work from other projects to eliminate redundant operations.
This standardized framework makes the estimate easier for both the estimators and clients to navigate and insures a degree of continuity across different estimates – reducing the learning curve and increasing transparency. CAST is able to export documentation and reports at the click of a button, reducing the time needed to develop these materials, and reducing the time lost to having to change documentation to match changes to the estimate.
Eric Lumsden is an Operations Research Analyst at TASC. He received his MBA in 2011 from Pennsylvania State University’s Behrend College, with a concentration of coursework in operations research and management science. His professional experience prior to joining TASC was in financial services as well as accounting and finance. In addition to CER development and cost analysis, he also programs with VBA.