Reduced multivariate polynomial model for manufacturing costs estimation of piping elements

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Abstract

This paper discusses the development and evaluation of an estimation model of manufacturing costs of piping elements through the application of a Reduced Multivariate Polynomial (RMP). The model allows obtaining accurate estimations, even when enough and adequate information is not available. This situation typically occurs in the early stages of the design process of industrial products. The experimental evaluations show that the approach is capable, with a low complexity, of reducing uncertainties and to predict costs with significant precision. Comparisons with a neural network showed also that the RMP performs better considering a set of classical performance measures with the corresponding lower complexity and higher accuracy.

Original languageEnglish
Article number765956
JournalMathematical Problems in Engineering
Volume2013
DOIs
StatePublished - 13 May 2013

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