Using weighted partial least squares to estimate the development cost of complex equipment at early design stage

Abstract

The objective of this work is to develop and test a model of cost estimating for the complex equipment development (i.e. parts in aerospace or automotive industry) in the early design phase. A novel similar degree is put forward based on a comparison analysis between a new product (equipment) and the products that have been manufactured previously, in order to identify the similarities. The similar degree of the past products is used as the weight of the weighted partial least squares (WPLS) regression for a further improvement of partial least squares (PLS). Test of the methodology on three real cases demonstrates that the methodology produces accurate estimation.