PRICE Systems

The company's key dates are as follows: • 1969 RCA's Frank Freiman invents parametric cost modeling for estimating acquisition and development of hardware systems • 1973 Frank Freiman founds PRICE Systems as part of RCA • 1986 GE acquires RCA; RCA PRICE Systems becomes GE PRICE Systems • 1992 Martin Marietta acquires GE Aerospace; GE PRICE Systems becomes Martin Marietta PRICE Systems • 1995 Lockheed Corporation merges with Martin Marietta to form Lockheed Martin; PRICE Systems becomes a division of Lockheed Martin • 1998 Management buyout from Lockheed Martin; PRICE Systems LLC formed as independent company • 2021 Company acquisition by Unison Global; PRICE Systems LLC is bought by Unison Global. == Technology ==

In 1976 PRICE introduced its Hardware Life-Cycle Cost Model. This was followed in 1977 by a Software Development Cost Model, one of the oldest and most widely used software parametric models for large-scale software development projects. In 1983 the company launched its first application for microcircuit cost modelling. ;TruePlanning 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 data collection and regression analysis. The TruePlanning Software model provides activity-based parametric models to aid in the estimation of new software development, integrations of Commercial Off-the-Shelf (COTS) Software and life cycle maintenance costs. Today, TruePlanning is used to estimate the costs, schedule, effort, and benefits for: • Hardware Life Cycle programs (mechanical and electronic) • Software projects • IT Projects • System of Systems configurations == Customers ==

Customers include DOD Program Office, BAE Systems, Boeing NA, Eurocopter, Gulfstream Aerospace, NASA, US Naval Air Systems Command (NAVAIR), Penn State Applied Research Laboratories (ARL), Sikorsky Aircraft and United Technologies Corporation. ==References==