Major Differences between Cost Models


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Essay #: 071898
Total text length is 13,700 characters (approximately 9.4 pages).

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Major Differences between Cost Models
The purpose of this section is to (a) examine existing cost models, (b) explain cost modeling at the pre-design stage, (c) present a cost model that is selection of cost factors that are more important in the pre-design stage and (d) a defense of why these particular cost factors were selected, what their limitations are, and how they can be improved.
Existing Cost Models
There are numerous cost models that exist in the literature. One of the major differences between cost models is the time horizon of cost. For example,
, Al-Hajj, Pollock,
, and Sun (2003) called attention to whole-life costing (WLC), which accounts for the costs of future disposal and other to-be-incurred costs into the...
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