Events
We have a brand new online tool for submitting your Cost Report, which replaces the offline Excel tool we’ve used in previous years. This improves accessibility as multiple users can input data simultaneously and it is centrally stored and updated with version control functionality.
Instructions on how to access the new cost tool are as follows:
- Log in to your team account
- Go to the ‘Document Submissions’ page
- Scroll down and find ‘Cost Report’ and click the link
- Click 'New' to create a new Bill of Materials
- Click 'Edit' to take you to the BOM page
- Populate your BOM using the new tool. You can revisit and edit your BOM until it’s complete, just remember to click ‘Save’
- You can create a snapshot of the existing Bill of Materials. Creating a snapshot will create a new version of the Bill of Materials and leave the old one available for editing
- IMPORTANT: When complete, you must export your BOM as a PDF using the tool, and then go back to the Document Submissions page and upload the exported PDF file. Ensure this is within the deadline as set out in the Key Dates to avoid penalties
A user guide will be available via the Forms and Documents page of the FS website for teams to familiarise themselves with the new system.
We also caught up with Head Cost Judge John Dangerfield to hear the latest updates, the impact that the Cost event has to scoring for FS2020 and some further guidance for teams. Following from some of the advice he had provided to teams at Learn to Win 2020, here's what John had to say.
What’s new in the Cost Tool this year?
This year we have switched from the offline Excel tool to an online web-based version for the Cost and Manufacturing Event at Formula Student. This should mean that the teams have an easier time inputting the data as multiple users can update simultaneously and it will be centrally stored and updated. It will also allow version control to be better managed and year-on-year the system will store your teams BOMs so you are not starting from scratch each year if that is helpful.
To ensure the that Formula Student has the ultimate flexibility for assessing both EV and IC cars long into the future we have developed our own website to create the BOMs that are required at our event. The ruleset with other European events remains virtually aligned so there should only be a need for data entry between the various sites if you are also competing at other derivative Formula Student events.
Also in other news the Cost Event at Formula Student is now worth 20% more at 120 points in total. If you don’t think that is significant go back and have a look at the finishing position in previous years and see how far the winners would have dropped as a result of losing just 20 points. Now add to that equation the increase of the Business Plan Event from 75 to 120 points and the increase of Design by 10 points too. That’s 75 extra points up for grabs at Formula Student before you have even started the car. This can and will make a significant difference but teams will have to work much harder to get these points. This is has been done to make sure that Formula Student’s prime focus is the learning aspect that the event offers and that via taking part in the event you will have the maximum amount of transferable skills and experience to deploy in your future careers irrespective of whether that is automotive / motorsport originated or in a completely different field.
What are the key areas for teams to look at?
Just because we have a new website, teams should not think that this is the only or main part of the Cost Event. To maximise the points available teams need to give equal attention to the Cost Explanation Pack and Support File. The Support File needs to include all the drawings that are relevant to your BOM. With a detailed focus on your CBOM sections (which remain as Chassis and Suspension as was last year). I think it very useful to include an overall drawing of your car in plan, 3D and/or even exploded views too. This will help the judges that pre-mark your packs to understand the car better without having the benefit of having the car in front of them at that point in time. The Cost Explanation File is where you can really show off your depth of knowledge. Ultimately you are looking for a blended labour rate that is made up of all the associated costs in employing somebody. This will have various elements included as well as this year an option to also include capital equipment and the full suite of on costs. Really think about what it costs to employ resources to deliver the car and blend this with your material and outsourcing costs too. Tip: This area is where your judges will focus on the day when they quiz you about your cost knowledge and understanding. It's a fundamental skill to be able to assess this level of cost detail in industry and key to successfully delivery of projects.
What’s the biggest area for improvement for teams in the Cost Event? What are the common pitfalls that catch teams out?
Teams know the car inside out and are very knowledgeable from a design perspective and prototype construction perspective. For a lot of teams, the cost has been an afterthought though. For the judges who are assessing you this is not the case. They are profession cost experts that live and breath these things every day. The search for savings in Industry can be as low as a few cents and pennies per component. They know when you factor these up to modern production volumes these savings can be very significant. They will expect you to be thinking in a similar way. A lot of teams miss this and as a result miss out on the higher points that are available. Know your car and prototype inside out but also know how you would deploy that prototype via a large volume construction method and be ready to talk about it (remember its called Cost AND Manufacturing for a reason). If you can have data and validation to back this up, the judges will be impressed and you will score accordingly.
What advice would you give team members competing in the Cost Event for the first time?
- Back up all your answers with evidence and/or justification. Being able to show evidence of why you did something is so powerful. If you can equate that into performance gain vs money spent either as time-saving (on or off track), speed increase or potential points gained it makes it very difficult to argue with you and definitely opens up the higher banding of marks.
- Find out what your judges want to know at the beginning of the session. Our judges come from very different professional backgrounds and as a result, will have different perspectives on the event. There is nothing wrong in asking them what they want to know right at the start and tailoring your responses to that. Make sure you know your stuff though of this tactic can backfire if you aren't well prepared…
- The earlier you start your planning for Cost the better it will be. I have been where you are now as a competitor and I know from experience you will be stretched for time the nearer you get to the event. If you want a quality output on the day and win the points associated with that you need to plan and act right immediately. In fact stop reading this now and get started… Good Luck and see you at Silverstone in July.