Estimating

Estimating

Since our founding in 1988 we have prepared close to one thousand estimates for a wide variety of industries around the world. Estimates can be used for a variety of different functions and listed below are examples of the typical types of estimating services that we provide to our clients:

Capital Cost Estimates

Operating Cost Estimates

Decommissioning Estimates

Independent Claim Reviews

Cost Risk Analysis

We would normally categorise cost estimates into four levels, depending on the scope of the engineering definition of the project and the estimating techniques used – This will define the estimate accuracy that can be achieved.

estimating techniques used

Our estimating methods also align with AACE estimating classes. The alignment below shows the typical stages at which each type of estimate would be applicable – As project definition matures the time taken to process the project deliverables increases increasing the time taken to prepare an estimate.

PCP Est. Level AACE Est. Class Project Stage Estimating Methodology Anticipated Accuracy
Level 1 Class 5 Pre-Feasibility Study Capacity / Parametric Estimating + 40% / -25%
Level 2 Class 4 Feasibility Study / Concept Selection Factored Estimating + 25% / -15%
Level 3 Class 3 Conceptual Design / EPC Contract Award Estimating using composite norms + 15% / -10%
Level 4 Class 2

Class 1
Detailed Design

Bid/Tender
Detailed estimating

Contract Analysis / Claim resolution
+ 10% / -5%

Our Advantages

Read about the advantages that PCP can bring to your project by applying our knowledge base and bespoke suite of applications.

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Our Experience

PCP have a wealth of experience in the global energy industries, chemicals production, and mineral processing.

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Speak to one of our consultants

+44 (0) 1277 636 161