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| Economic Analysis |
"Economic analysis is a systematic approach to the problem of choosing the best method of allocating scarce resources to achieve a given objective." (DoDI 7041.3) While the actual process might be called an analysis of alternatives (AoA), a cost/benefit analysis, a business case analysis (BCA), etc., economic analysis typically entails evaluation of the ‘best’ alternative from among several candidates.
The quality of the evaluation is dependent on the quality of the cost estimates for all alternatives explored, including the baseline.
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“In completing this challenging cost estimating-analysis task, Technomics analysts demonstrated the highest standard of technical capability and analytical integrity. They worked closely with our operations research analysts in producing a high quality, timely and well-received AoA. Technomics’ superior cost estimating/analysis work is very highly regarded by our Marine Corps customer and was a key factor in the award of three subsequent, high-visibility projects that are ongoing and proceeding well. We at Northrop Grumman are delighted to work alongside the top-notch professionals at Technomics.”
- Northrop Grumman Mission Systems Program Manager
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Credible cost estimates are an essential ingredient of any economic analysis. Whether it’s an AoA to determine the ‘best’ radar system to acquire to meet a required capability or a cost/benefit analysis to determine whether a commercial off-the-shelf (COTS) software solution makes business sense, Technomics will provide comprehensive cost estimates that cover all potential recurring and nonrecurring costs associated with a given alternative.
Together, Technomics’ Cost Estimating and Cost Research expertise ensure that we deliver defensible economic analyses that facilitate informed decision making.
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