1. A computer implemented method for estimating the manufacturing cost of a component, the method comprising: electronically receiving a component model wherein the component model includes an at least one quantitative driver and an at least one cost algorithm used to determine the estimated manufacturing cost; electronically receiving values for each quantitative driver; determining the estimated manufacturing cost for the component based on the values for each quantitative driver and the at least one cost algorithm, wherein the manufacturing cost includes a finished weight, a material usage and cycle time; wherein the material usage and the at least one cost algorithm is comprised of a material usage algorithm that is based on component dimensions and scrap associated with manufacturing and the cycle time and the at least one cost algorithm is comprised of a cycle time algorithm that is based on the amount of time needed to perform each process applicable to the production of a component and transmitting the estimated manufacturing cost to a user.