PCM/Designer automates the process of developing and validating parametric cost models. Using PCM/Designer, very sophisticated cost models can be developed, each one customized to meet a company's or department's specific cost estimating needs. This software can be used for estimating the cost of engineering projects, product development, software development, and other traditionally difficult to estimate processes. Using a built-in Solver, PCM/Designer can automatically derive parametric cost estimating relationships (CERs) from historical data compiled from a company's prior projects. It also analyzes the quality of the cost estimating relationships using standard statistical measures of accuracy and correlation. PCM/Designer also produces a comprehensive set of reports that document the details of each cost model for audit purposes.