Patent ID: 7979329

Claim:
A computer-implemented method for generating bill payment schedule, comprising: determining, by a processor, a fraction of each pricing model attributing to a composite pricing model, the determining based on hybrid characteristics of a project wherein the composite pricing model includes different pricing models for different sets of characteristics in the project and wherein the fraction can be allocated differently in different time units over a time period for payment, the determining further based on user input of whether a value for a selected parameter should be used as historical data, triangle distribution data, or normal distribution data and associated value for the selected parameter, the determining further including automatically screening, by the processor, the selected parameter for use in the pricing model and recommending against using the screened parameter based on a determination made by [an automatic process using a significance estimation for determining significance of the selected parameter, wherein the significance estimation is determined using an optimization model, Max ⁢ ∑ i = 1 n ⁢ x i × Mean ⁢ ⁢ ( Parameter i ) ∑ i = 1 n ⁢ x i × SD ⁢ ⁢ ( Parameter i ) 2 s . t . ⁢ x 1 , x 2 , … ⁢ ⁢ x n ∈ { 0 , 1 } wherein Mean( ) is a function to calculate the mean of parameter i, SD( ) is a function to calculate a standard deviation of parameter i, x, is a kind of Boolean variable to represent whether the parameter i is significant or not; determining target profit margin and risk affordance; determining total price to charge; computing a charge fee associated with said each pricing model based on said fraction and said total price to charge; determining time period for payment, budget and discount rate; allocating price to charge during each time unit of the time period based on said charge fee associated with said each pricing model, said budget and said discount rate; and generating, using a processor, a bill schedule based on said price to charge during each time unit.