SYSTEM AND METHOD FOR DETERMINING AND INCREASING AN ACCURACY OF COSTING

A method, system, and computer program product for determining and increasing the accuracy of costing including determining possible components of a product; allocating each component at least one costing wherein the costing depends on the current product definition process which may vary over time and wherein different methods for the costing may be applied; assigning an accuracy value for each costing method that is applied; for each component, multiplying its assigned accuracy value with the component's proportion to the total cost of the product, and summing up the weighted accuracies of the costings of the components resulting in an overall accuracy of the costing of the product.