Unit production cost and life cycle cost tradestudy considerations are basic to the affordability of a new product. A major portion of the life cycle cost of a product, including production cost, are found to result from decisions made early in the planning phases of a program. Computerized parametric cost modeling generates cost estimates using the information that is available before the developing of engineering detail. The RCA PRICE program, available to all potential users, is used to illustrate the input requirements and steps necessary for parametric estimating of costs for development, production and support in the life cycle of a product. A laser rangefinder equipment is used as a product example to show the utility of this analysis.