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:
Operating Cost 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.
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
Contract Analysis / Claim resolution
|+ 10% / -5%|