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PRICE Systems
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<h2 id="chronology">Chronology</h2> <p>The company's key dates are as follows:<a class="footnote-ref" id="fnref:5" href="#fn:5"><sup>5</sup></a> </p> <ul><li>1969 RCA's Frank Freiman invents parametric cost modeling for estimating acquisition and development of hardware systems</li> <li>1973 Frank Freiman founds PRICE Systems as part of RCA</li> <li>1986 <a href="/facts/GE/bBm5CzVY">GE</a> acquires RCA; RCA PRICE Systems becomes GE PRICE Systems</li> <li>1992 <a href="/facts/Martin_Marietta/IBhkluIr">Martin Marietta</a> acquires <a href="/facts/GE_Aerospace/y50NmB0v">GE Aerospace</a>; GE PRICE Systems becomes Martin Marietta PRICE Systems</li> <li>1995 <a href="/facts/Lockheed_Corporation/FymLE6jf">Lockheed Corporation</a> merges with Martin Marietta to form Lockheed Martin; PRICE Systems becomes a division of Lockheed Martin</li> <li>1998 <a href="/facts/Management_buyout/57Bve1re">Management buyout</a> from Lockheed Martin; PRICE Systems LLC formed as independent company</li></ul> <h2 id="technology">Technology</h2> <p>In 1976 PRICE introduced its Hardware <a href="/facts/Product_lifecycle_(engineering)/G3U6gtBv">Life-Cycle</a> Cost Model. This was followed in 1977 by a <a href="/facts/Software_Development/UUfsAaYY">Software Development</a> Cost Model, one of the oldest and most widely used software parametric models for large-scale software development projects.<a class="footnote-ref" id="fnref:6" href="#fn:6"><sup>6</sup></a> In 1983 the company launched its first application for <a href="/facts/Integrated_circuit/fjn6vg7C">microcircuit</a> cost modelling. </p> TruePlanning <p>In 2003 PRICE released TruePlanning, a proprietary parametric model that estimates the scope, cost, effort, and schedule for software projects. Parametric estimating models are mathematical models containing cost estimating relationships (CERs) developed through <a href="/facts/Data_collection/rEGBdDzj">data collection</a> and <a href="/facts/Regression_analysis/n6z5Tf7K">regression analysis</a>. The TruePlanning Software model provides activity-based parametric models to aid in the estimation of new software development, integrations of <a href="/facts/Commercial_Off-the-Shelf/3VxTJYc6">Commercial Off-the-Shelf</a> (COTS) Software and <a href="/facts/Systems_Development_Life_Cycle/qo6p4j6Y">life cycle</a> <a href="/facts/Software_maintenance/Uv39zQb0">maintenance</a> costs. </p><p>Today, TruePlanning is used to estimate the costs, schedule, effort, and benefits for: </p> <ul><li>Hardware Life Cycle programs (mechanical and electronic)</li> <li>Software projects</li> <li><a href="/facts/Information_technology/glMzunwe">IT</a> Projects</li> <li><a href="/facts/System_of_Systems/6cp3tlKF">System of Systems</a> configurations<a class="footnote-ref" id="fnref:7" href="#fn:7"><sup>7</sup></a></li></ul> <h2 id="customers">Customers</h2> <p>Customers include <a href="/facts/United_States_Department_of_Defense/dWAvf7e3">DOD</a> Program Office, <a href="/facts/BAE_Systems/W1wLXh5x">BAE Systems</a>, <a href="/facts/Boeing/tF5sMe9F">Boeing</a> NA, <a href="/facts/Eurocopter/da0T5LYd">Eurocopter</a>, <a href="/facts/Gulfstream_Aerospace/9AdAS6lt">Gulfstream Aerospace</a>, <a href="/facts/NASA/TIMCV0yV">NASA</a>, <a href="/facts/Naval_Air_Systems_Command/WQgbbbty">US Naval Air Systems Command (NAVAIR)</a>, <a href="/facts/Pennsylvania_State_University/WMQagtjM">Penn State</a> Applied Research Laboratories (ARL), <a href="/facts/Sikorsky_Aircraft/efQqMHVC">Sikorsky Aircraft</a> and <a href="/facts/United_Technologies_Corporation/DNekaBKw">United Technologies Corporation</a>.<a class="footnote-ref" id="fnref:8" href="#fn:8"><sup>8</sup></a> </p> <h2 id="references">References</h2> <ol> <li id="fn:1"><p>Cost Estimating by Rodney D. Stewart, ISBN 0-471-85707-6 <a href="/wiki/ISBN_(identifier)" target="_blank">/wiki/ISBN_(identifier)</a> <a href="#fnref:1" class="footnote-back-ref">↩</a></p></li> <li id="fn:2"><p>Systems Cost Engineering by Dale Shermon, ISBN 978-0-566-08861-2 <a href="/wiki/ISBN_(identifier)" target="_blank">/wiki/ISBN_(identifier)</a> <a href="#fnref:2" class="footnote-back-ref">↩</a></p></li> <li id="fn:3"><p>Tool and Manufacturing Engineer's Handbook, Volume V, Manufacturing Management, Society of Manufacturing Engineers, ISBN 0-87263-306-3 <a href="/wiki/ISBN_(identifier)" target="_blank">/wiki/ISBN_(identifier)</a> <a href="#fnref:3" class="footnote-back-ref">↩</a></p></li> <li id="fn:4"><p>A Framework of Software Measurement by Horst Zuse, ISBN 3-11-015587-7 <a href="/wiki/ISBN_(identifier)" target="_blank">/wiki/ISBN_(identifier)</a> <a href="#fnref:4" class="footnote-back-ref">↩</a></p></li> <li id="fn:5"><p>PRICE Systems: Historical Highlights <a href="#fnref:5" class="footnote-back-ref">↩</a></p></li> <li id="fn:6"><p>Software Engineering: A Practitioner's Approach by Roger Pressman, ISBN 0-07-285318-2 <a href="/wiki/ISBN_(identifier)" target="_blank">/wiki/ISBN_(identifier)</a> <a href="#fnref:6" class="footnote-back-ref">↩</a></p></li> <li id="fn:7"><p>Anthony DeMarco, White Paper: The PRICE TruePlanning Estimating Suite, 2007 <a href="http://www.pricesystems.com/Resources/Article/The-PRICE-TruePlanning%C2%AE-Estimating-Suite-2007" target="_blank">http://www.pricesystems.com/Resources/Article/The-PRICE-TruePlanning%C2%AE-Estimating-Suite-2007</a> <a href="#fnref:7" class="footnote-back-ref">↩</a></p></li> <li id="fn:8"><p>Price Systems L.L.C. Customers Overview Archived 2009-05-26 at the Wayback Machine, PRICE Systems, 2008. <a href="http://www.pricesystems.com/success/customer_overview.asp" target="_blank">http://www.pricesystems.com/success/customer_overview.asp</a> <a href="#fnref:8" class="footnote-back-ref">↩</a></p></li> </ol>