The adaptation of product cost estimation techniques to estimate the cost of service

This article presents an approach to ascertain whether product cost estimating techniques can be adapted for use in estimating the costs for providing a service. The research methodology adopted consists of a critique and analysis of the literature to ascertain how current cost estimation techniques...

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Bibliographic Details
Published inInternational journal of computer integrated manufacturing Vol. 25; no. 4-5; pp. 417 - 431
Main Authors Huang, Xiao Xi, Newnes, Linda B., Parry, Glenn C.
Format Journal Article
LanguageEnglish
Published Taylor & Francis 01.04.2012
Subjects
product
product cost estimation
service
service cost estimation
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Summary:This article presents an approach to ascertain whether product cost estimating techniques can be adapted for use in estimating the costs for providing a service. The research methodology adopted consists of a critique and analysis of the literature to ascertain how current cost estimation techniques are used. The analysis of the cost estimation techniques provides knowledge of cost estimation, in particular for products and service with advantages and drawbacks defined. This leads to the proposition of applying product costing methods to services. Hence, proposals on how product costing approaches can contribute to the service industry are presented as the focus of this article. Gaps and challenges for service costing are identified and corresponding future direction is suggested.
ISSN:0951-192X
1362-3052
DOI:10.1080/0951192X.2011.596281