CostEstimating-MIT.pptVIP

Cost Estimating Critical for: Determining whether to make an investment to provide a product for the consumer market Deciding if a company should quote on a product for sale to another company 3.042 Materials Project Laboratory Purpose of Estimating Establish the bid price of a product for a quotation or contract. Verify quotations submitted by suppliers. Ascertain whether a proposed product can be manufactured and marketed profitably. Provide data for make-versus-buy decisions. Help determine the most economical method, process, or material for manufacturing a product. Provide a tempora