What are the ideal characteristics of a Project Cost Estimation Organization Assets?
The strength of a cost estimation team is mainly based on knowledge assets and cost information organized, coded and connected with management tools that make interaction with the estimator friendly.
Thus, it is crucial that we identify some of the most important characteristics:
- Make Easy the identification of the structure or component identification map.
- Having in the same site the possibility of navigating the tool without having to appeal to other pages or sites to complete the estimation work, that is, all in one integrated, if it's possible.
- Have the possibility of using tools to make comparisons, using KPIs (Key Performance Indexes) to ensure the quality of the estimate in its revision stage, but that these tools are part of the estimation system.
I know, I am not saying something new, but is important to remind the advantage that it means if as Estimator you are part of an Organization that make efforts to build up a Cost Estimation Department model. I have worked in several Cost Estimation Organizations, and I have been insistently carrying the principles shows above.
Unfortunately, the rule is not always that those organizations are aware of the importance of having a robust cost estimating asset system. As part of the topic included in this article, I will talk about the classification of the sources of information related to the Project Costs Estimation, always framed in the perspective of my own experience and the information gathered during my long years dedicated to this subject.
Project Cost Estimation Databases:
- Process Plant Cost Estimation databases and Softwares.
- Global energy, chemicals, renewables, metals and mining Databases and softwares.
- Equipment and Materials for Construction in General Databases and Softwares
1.- Process Plant Cost Estimation databases and Softwares.
ACCE is part of a suite designed by Aspentech for generating cost models of process equipment from individual model conceptualization, to optimization and control, power and material bulks, as well as supporting project relocation and expansion in plant size based on original default parameters. The tool defines contract structures for multiple EPCs and providers; Helping project leaders analyze execution strategies, manage change orders, and control costs.
How does ACCE work?
ACCE is a comprehensive project life cycle estimation solution capable of Class IV to Class II (AACE) estimates, using over 30 years of embedded knowledge spanning various engineering disciplines, including chemical, civil, electrical, and mechanical.
QUE$TOR® software provides conceptual estimation analysis, optimization, and detailed estimates of CAPEX / OPEX oil and gas costs. It is a suite of applications that includes the Regasification modules, QUE $ TOR Offshore, QUE $ TOR Onshore and QUE $ TOR LNG. With a cost database with attributes, technologies and equipment. The software is used to:
- Model oil and gas production and expenses
- Create the reservoir production development schedule.
- Support of feasibility studies and pre-FEED and selection of concepts.
- Cost management support for multiple oil and gas projects, including LNG, both Onshore and offshore.
- Cost information includes semi-annual updates.
How does Que$tor work?
Que$tor has the ability to handle most oil and gas development models around the world, has clearly defined methodologies for Offshore and Onshore developments, as well as onshore LNG regasification projects. Any combination of these three types of projects can be modeled as long as you have the necessary licenses. In generating capital cost estimates for a reservoir development, the estimate is broken down into a number of discrete components. The combination of these components allows the identification and estimation of a reservoir development plan. Additionally, it is possible to generate operating costs for the specified facilities and in-phase expenses as necessary.
The use of independent technical and cost databases for all the major oil and gas producing regions in the world means that any development, present or future, can be modeled.
Cleopatra Total Cost Management Tool offers an integrated solution for total cost management, dedicated to large industrial projects. It is a tool that integrates cost estimation, cost control and project analysis. From Conceptual Estimation to detailed cost estimation starting with estimation, a vital part of project cost management, historical data is used to accurately predict all aspects of the project. Complex projects make a distinction between different phases. Each phase requires a unique set of approaches and methods to arrive at a reliable estimate of the project cost. Cleopatra Enterprise is professional software with a user interface that offers all the latest techniques such as location factor tables, smart cost models, and breakdown structures.
Hard Dollar Project Cost Management is a platform that integrates estimation, scheduling and reporting in one system, and helps control real costs for total project confidence in cost estimation, productivity management and accumulated value .
The Hard Dollar (HD) solution combines cost modeling with the project schedule to track overall productivity. According to its authors, HD can be used in different industries:
- Industrial manufacturing
- Roads and highways
- Construction, Engineering and Public Sector Projects
- Energy and Telecommunications
2.- Global energy, chemicals, renewables, metals and mining Databases.
Wood Mackenzie is a dedicated oil, gas, power, renewables, chemicals, metals and mining experts company. They analyse, cultivating a deep understanding of local issues and market forces worldwide. They cover a diverse range of industry sectors and focus areas across the entire natural resources value chain.
The Performance Forum is a Joint Industry Project, sponsored by the key players in the global upstream oil and gas industry. Managed and operated by Turner & Townsend, it benchmarks upstream project performance on a range of unique cost, schedule, technical and project complexity metrics. Ongoing reviews of cost, schedule and technical performance are essential to the future of the oil and gas industry. With organisations increasingly collaborating, identifying and encouraging best practice through the forum, the industry is seizing the chance to transform.
3.- Equipment and Materials for Construction in General Databases and Softwares.
In the area of Construction Estimation and preparation of offers, it is where there are more tools to develop cost estimates aimed at providing support to be competitive when submitting an offer.
Best Competitors as Construction Estimation Tools, May 2017
According to the North American firm Gardner Methodology, the best softwares in the United States are the following:
• HCSS HeavyBid
• Sage 300 Construction and Real Estate (Formerly called Sage Timberline Office)
• B2W Estimate - Estimating & Bidding
• Sage 100 Contractor (Formerly called Sage Master Builder)
• Viewpoint MEP Estimating
• On-Screen Takeoff and Quick Bid
• McCormick Estimating Software
• ConEst IntelliBid
(1) A method for estimating the capital cost of chemical process plants: fuzzy matching - Publisher: © Gary John Petley