45 results about "PRICE Systems" patented technology

PRICE Systems was founded in 1975 as a business within the RCA Corporation. It is generally acknowledged as the earliest developer of parametric cost estimation software. PRICE Systems’ cost estimating software was first developed in the 1970s when David Shore, a vice president in RCA's Government Group discovered that Frank Freiman, in the purchasing department, was able to predict the cost of military new systems with considerable accuracy before design was completed and a parts breakdown was available for cost estimation. Mr. Shore teamed Freiman with William Rapp, who transferred Freiman's relationships to software that could be run on a computer. This was used in a proposal RCA made to the USAF. When questioned by the Air Force, a presentation was made to them by Shore, Freiman and Rapp. The USAF demanded that RCA make this capability available to the entire industry as a condition for accepting its use.