Cost Engineering - Analyse Your Projects Through Estimating Life Cycle
Cost Engineering - Analyse Your Projects Through Estimating Life Cycle
Cost Engineering - Analyse Your Projects Through Estimating Life Cycle
Feasibility study
25% Study estimate
Development plan
25% Budget estimate Economics Step 3 Initial commit. plan
Project specification
10% Control estimate
commit. plan Economics Step 4 Project execution plan
Detailed design
Materials procurement
Construction
Economics
Step 2
Close out
Abandon project
Approval
Approval
Project debrief
METHODOLOGY
PREPARATION EFFORT 1
capacity factored, parametric models, judgment, or analogy equipment factored or parametric models semi-detailed unit cost with assembly level line items detailed unit cost with forced detailed take-off detailed unit cost with detailed takeoff
1% to 15%
study or feasibility budget, authorization or control control or bid / tender check estimate or bid / tender
2 to 4
10% to 40%
3 to 10
30% to 70%
4 to 20
50% to 100%
5 to 100
> Compare class 4 -> class 3 -> class 2 > Learn from your past projects
> Compare similar projects and historical data > Classification required!
> Knowing the effects on cost of scope changes > Keep an overview in complex projects
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www.costengineering.eu
www.costengineering.eu
Show case:
Example project Estimating through the project life cycle Analyse the various phases
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> Scope
> Distillate process: raw product to middle distillate > By products: top and bottom > 28 pieces of equipment (columns, heat exchangers, tanks, pumps, vessels) > Executed in Western-Europe > Price level date 2011 > Finish date: November 2012 > Project life cycle: from feed to execution
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Based on Factors Parametric Equipment Models Applying Hand methodology Distribution of disciplines
Object re-use (Engineering Standards) Tuning for more accuracy Include allowance, indirect, escalation and contingency Disciplines: piping, mechanical, E&I, civil, etc. Parts to be estimated
> Detailed Unit-Cost > Bill of Quantity / Material take off input > Equipment Parameters
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Questions ?
Cost Engineering
E-mail: info@costengineering.eu www.costengineering.eu