Master’s in Design to Cost / Design to Value (Engineering and Finance for Cost and Value)
Online master's programme of 1,900 hours in Design to Cost and Design to Value. 12 modules covering cost accounting for engineers, early cost estimation, target costing, value analysis, DFM/DFA, teardown and benchmarking, should costing, life-cycle cost and financial decision-making for products, with an assigned technical tutor.
Master’s in Design to Cost / Design to Value (Engineering and Finance for Cost and Value) — studying from Australia
Technology-driven organisations in Australia need professionals who combine engineering knowledge with business management, project governance and policy understanding. Sectors such as mining, energy, infrastructure and defence rely on technical managers who can translate complex engineering decisions into investment and regulatory terms. Government departments, industry bodies and consultancies in Canberra, Sydney and Melbourne actively shape technology policy, including innovation, digital transformation and critical technologies. Graduates often move into programme management, consulting or strategy roles within large engineering-intensive organisations.
Fees for Australia: A$11,000 (AUD), with instalments and employer sponsorship available.
Relevant bodies in Australia
Typical roles
Questions from Australia
Which Australian bodies relate to engineering management and technology policy?
Engineers Australia is the main professional body and offers pathways for engineering managers, while the Australian Institute of Company Directors and CPA Australia cover management and governance. SEIUM's private qualifications are not accredited by any of these bodies. Recognition is decided by employers or the relevant body, so verify it before enrolling.
What roles in Australia could this qualification support?
Engineering management, technology policy, and project leadership roles exist across government, utilities, consultancies and industry. Employers generally weigh your experience and leadership record heavily. A SEIUM qualification may add to your profile, but its acceptance depends on each employer.
Can I study this from Australia without a visa and with a job?
Yes, the programmes are fully online and in English, so you can study from Australia with no student visa required. Plan around 300 to 1,900 hours depending on the programme, and note an assigned technical tutor and a final project are included. Fees can be paid in instalments, and employer sponsorship may be possible.
Take the controls.
Run a real engineering trade-off from this field. Move the sliders, watch the model react in real time and beat the challenge.
What you will be able to do
Relate design decisions to cost and value.
Estimate product costs in early phases.
Apply target costing in development projects.
Lead value analysis workshops.
Redesign products using DFM and DFA criteria.
Evaluate product decisions with financial tools.
Organise cost and value programmes within the company.
Who it's for
- Product cost engineers who want to influence cost from the earliest design stages.
- Value analysis managers seeking a structured methodology.
- Industrial controllers who need to understand the engineering behind product costs.
- Technical purchasing engineers working on should costing and supplier negotiation.
- Cost reduction programme managers.
- Design to Value consultants.
- Engineering or science graduates seeking to enter the automotive sector.
What you'll work with
- UNE-EN 12973 (value management)
- UNE-EN 1325 (value management and value analysis vocabulary)
- IEC 60300-3-3 (life-cycle costing)
- ISO 14040 (life-cycle assessment)
- SAVE International Value Methodology Standard (value methodology)
- ISO 15686-5 (life-cycle costing in buildings)
- aPriori
- Siemens Teamcenter Product Cost Management
- Boothroyd Dewhurst DFMA
- SAP S/4HANA
- Microsoft Excel
12 modules
1.1Committed cost versus incurred cost1.2Customer-perceived value1.3Differences between Design to Cost and Design to Value1.4Product life cycle and total cost1.5Target price and target cost1.6Product margin and profitability1.7Role of engineering, purchasing and finance1.8Cost culture within the organisation1.9Product cost indicators1.10Case study: cost diagnosis of an existing product
2.1Direct and indirect costs2.2Activity-based costing (ABC)2.3Standard costs and variances2.4Allocation of overhead costs2.5Material costs and scrap2.6Labour costs and times2.7Depreciation and tooling investments2.8Costs of quality and non-quality2.9Logistics and service costs2.10Practical exercise: full cost breakdown of a mechanical assembly
3.1Parametric cost estimation3.2Analogous and similarity-based estimation3.3Bottom-up cost models3.4Cost of machining processes3.5Cost of plastic injection moulding3.6Cost of sheet metal and welding3.7Cost of casting and forging3.8Cost of assembly and testing3.9Cost calculation tools in CAD3.10Lab: cost estimation with aPriori
4.1The target costing process4.2Breakdown of target cost by function4.3Costing of product functions4.4Cost gap and closure plan4.5Monitoring through development phases4.6Cost-oriented design reviews4.7Management of supplier commitments4.8Market price and competition4.9Project gate systems4.10Workshop: target cost deployment for a household appliance
5.1UNE-EN 12973 value management standard5.2Functional analysis and FAST diagram5.3Value analysis job plan5.4Creativity and generation of alternatives5.5Evaluation of alternatives and criteria5.6Function-cost value index5.7Value engineering in projects5.8Running multidisciplinary workshops5.9Implementation of proposals5.10Case study: value analysis of an air-conditioning system
6.1DFM and DFA principles6.2Boothroyd-Dewhurst DFA evaluation method6.3Part count reduction6.4Standardisation and reuse6.5Tolerances and their impact on cost6.6Selection of materials and processes6.7Modular design and platforms6.8Design for automation6.9Design for service and maintenance6.10Practical exercise: DFA redesign of a subassembly
7.1Competitive teardown methodology7.2Analysis of competitor solutions7.3Cost estimation of third-party parts7.4Benchmarking of functions and performance7.5Process reverse engineering7.6Cost databases7.7Improvement ideas from teardown7.8Legal aspects of reverse engineering7.9Presentation of results7.10Workshop: teardown of a small household appliance
8.1Supplier-based cost and should costing8.2Quotation breakdown and transparency8.3Fact-based negotiation8.4Total cost of acquisition8.5Sourcing and location8.6Make or buy8.7Cost reduction contracts8.8Joint development with suppliers8.9Supply and cost risks8.10Case study: should cost of an injection-moulded part
9.1IEC 60300-3-3 life-cycle costing standard9.2Operating and maintenance costs9.3Reliability and warranty costs9.4End-of-life cost9.5Carbon footprint and associated cost9.6Circular design and its economics9.7Life-cycle assessment to ISO 140409.8Carbon pricing and regulation9.9Balancing cost and sustainability9.10Lab: LCC model of an industrial asset
10.1Net present value and internal rate of return10.2Investment payback period10.3Sensitivity and scenario analysis10.4Business case for a new product10.5Price and volume elasticity10.6Profitability analysis by variant10.7Managing product range complexity10.8Monte Carlo cost simulation10.9Financial presentation to senior management10.10Workshop: business case for a redesign
11.1Cost and value teams11.2Role of the cost engineer11.3Governance of cost reduction programmes11.4Savings tracking and reporting11.5Change management11.6Digital cost tools11.7Integration with PLM and ERP11.8Lean product development11.9Industrial success stories11.10Case study: 15% cost reduction programme
12.1Selection of the product to study12.2Analysis of current cost12.3Definition of the target cost12.4Functional and value analysis12.5Redesign proposals12.6Economic evaluation of the proposal12.7Implementation plan12.8Risks and mitigation12.9Master's Thesis report12.10Master's Thesis: defence before a panel
How you'll learn
100% online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. There are no fixed timetables: you progress at your own pace within each intake, so the programme fits around your job.
Each module combines theory, guided reading of the original standard and applied exercises. The software used is aPriori, Siemens Teamcenter Product Cost Management, Boothroyd Dewhurst DFMA, SAP S/4HANA and Microsoft Excel, in free, academic or evaluation versions. Exercises are based on real procedures: a competitive teardown of a consumer product, a value analysis workshop with a FAST diagram and a target cost estimate for a new component. Assessment is continuous by module plus the final Master's Thesis.
Standards covered: UNE-EN 12973, UNE-EN 1325, IEC 60300-3-3, ISO 14040, SAVE International Value Methodology Standard, ISO 15686-5.
Build it end to end
Your final project follows the real engineering workflow, step by step, reviewed by your tutor.
Where this takes you
Requirements
- University degree in engineering, science or architecture, or equivalent demonstrable professional experience.
- Internet connection and a computer capable of running the programme software.
- English sufficient to read technical standards.
Ready to start?
Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.
Frequently asked questions
The programme totals 1,900 hours over 12–14 months. You set your own pace within each intake, and your tutor helps you plan the workload around your job.
You work with aPriori, Siemens Teamcenter Product Cost Management, Boothroyd Dewhurst DFMA, SAP S/4HANA and Microsoft Excel, using free, academic or evaluation versions. Your tutor indicates the free alternative wherever one exists.
A SEIUM Institute diploma, awarded on passing the continuous assessment and the Master's Thesis. It is SEIUM's own qualification, not an official state degree; its recognition depends on the programme completed and the regulations of each country.
Yes. Modules passed in a course or postgraduate diploma in the same area are recognised in the higher programme. Ask about the recognition policy when you enrol.
A university degree in engineering, science or architecture, or equivalent professional experience, plus a computer able to run the programme software.
Start dates are set by SEIUM's faculty for each intake. Our admissions team will confirm the next available date when you apply.
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