Completion and Automation of the Full Cost Model on the Example of Tallinn University of Technology
Name
Kaja Jakobson
Abstract
The aim of this master's thesis is to elaborate and automate the comprehensive cost model, which would enable stakeholders of the cost model to get information about the cost of the first and second degree curriculums of Tallinn University of Technology by cost type. It allows to make better management decisions, increase cost efficiency, plan and organize further activities more precisely.
When creating a practical solution, it was important to set up functionalities and preliminary work with the basic data of the cost model. The analysis of the data mapped their relationship to University processes, defined the data types of the underlying data, found whether, how and what quality the data are applicable to the cost model solution. After analyzing the basic data and setting up the functionalities, an application was created in MS Power BI to get an overview of the costs of the curriculums. Subsequently, an overview of the capabilities and functionality of the created MVP was given.
The work concluded that:
1.\tEstablishing an organization's cost model necessitates an initial mapping of the organization's principal processes, potential sources of raw data, and relevancies in the cost model context. This should be followed by an in-depth analysis of raw data quality, identification of data types, and exploration of the cost model analysis possibilities.
2.\tPost the development of the initial solution and the realization of fundamental functionalities, it is crucial to solicit, interpret, and prioritize user feedback according to the combined Kano and MoSCoW model. This approach guarantees the fulfillment of base user expectations in subsequent iterations, while progressively incorporating linear satisfactions and elements of delight to the solution.
3.\tThe cost model utilized in this work, together with the preliminary analysis of the main process relationships, data, and data structure, can be adapted for other organizations, aiding in cost allocation to activities and automation solution creation.
4.\tThe fundamental task of cost forecasting, as demonstrated in Appendix 2, is a byproduct of the cost model analysis and solution creation. This can serve as a model for other organizations embarking on cost forecasting tasks.
5.\tThe outcome of this study allows the determination of the cost components of Level III higher education, research, and societal service within the context of the comprehensive cost model development.
6.\tThis work also provides a technical solution for attaining an understanding of the cost structure of educational programs.
When creating a practical solution, it was important to set up functionalities and preliminary work with the basic data of the cost model. The analysis of the data mapped their relationship to University processes, defined the data types of the underlying data, found whether, how and what quality the data are applicable to the cost model solution. After analyzing the basic data and setting up the functionalities, an application was created in MS Power BI to get an overview of the costs of the curriculums. Subsequently, an overview of the capabilities and functionality of the created MVP was given.
The work concluded that:
1.\tEstablishing an organization's cost model necessitates an initial mapping of the organization's principal processes, potential sources of raw data, and relevancies in the cost model context. This should be followed by an in-depth analysis of raw data quality, identification of data types, and exploration of the cost model analysis possibilities.
2.\tPost the development of the initial solution and the realization of fundamental functionalities, it is crucial to solicit, interpret, and prioritize user feedback according to the combined Kano and MoSCoW model. This approach guarantees the fulfillment of base user expectations in subsequent iterations, while progressively incorporating linear satisfactions and elements of delight to the solution.
3.\tThe cost model utilized in this work, together with the preliminary analysis of the main process relationships, data, and data structure, can be adapted for other organizations, aiding in cost allocation to activities and automation solution creation.
4.\tThe fundamental task of cost forecasting, as demonstrated in Appendix 2, is a byproduct of the cost model analysis and solution creation. This can serve as a model for other organizations embarking on cost forecasting tasks.
5.\tThe outcome of this study allows the determination of the cost components of Level III higher education, research, and societal service within the context of the comprehensive cost model development.
6.\tThis work also provides a technical solution for attaining an understanding of the cost structure of educational programs.
Graduation Thesis language
Estonian
Graduation Thesis type
Master - Data Science
Supervisor(s)
Maarja Pajusalu
Defence year
2023