Besides, decisions regarding optimizing project costs without sacrificing quality or functionality are highly dependent on the use of a set of systematic and logical procedures and techniques to enhance the whole-life project value. This course will provide the delegates with the necessary skills needed for accurately estimating the total cost of their proposed projects, eliminating unnecessary costs, linking cost estimates to selected procurement methods, and enhancing the overall value of project delivery.
The course offers a series of estimating techniques and processes to forecast accurately the anticipated costs of projects with a focus on budget estimates, estimates for pre-construction services, estimating contractor and sub-contractor work, estimating general conditions, pricing self-performed work, estimating negotiated contracts, and performing lump-sum and unit-price estimates.
Course Objectives of Petrochemical Plant Projects Cost Estimation & Cost Control
Cost estimate types accuracy
Estimating techniques
Cost estimate basic procedures, checklists and forms
Formulas for Cost estimating
Cost indices
Cost indexes
Cost books
Available plants cost book
Laborer hours and rates data
Cost escalation
Inflation
Location factor
Adjustments for location, size and prices
Cost estimate data base
How can received cost data online
How can check/modify/use the new data updates
Computer tools for estimating
Project scope of work and preparation.
Standard material costs data, How to estimate consumables materials quantity? ..Standard or references
How to update Laborer/manpower rates data?
Contractor mobilization cost
How can evaluating estimate or cost proposal prepared by others
Why using Software.
Software available on the market.
How can choosing software.
Program/software recommendation.
Software capability.
Software and license cost range
Plant projects cost estimate:
New complete plant projects cost estimate.
Plant innovations projects cost estimate.
Small plant projects cost estimate.
Plant design studies cost estimate.
Plant turnaround cost estimate.
Plant equipment construction/installation cost (exp. compressor, pumps, vessels,….).
Consumables/miscellaneous materials cost (exp. welding, acetylene gas, grinding wheel, ….).
Construction cost (mechanical, electrical and control) including Laborer/manpower, material and machine).
Civil work cost.
Feasibility & conceptual design projects.
FEED (front end engineering design) projects cost estimate.
Basic design projects cost estimate.
Detailed engineering design projects cost estimate
Detailed estimate
Semi detailed estimate
From historical data to present time cost evaluation.
Conceptual cost estimation.
Project management inputs to cost budgeting
Resource Requirements
Direct & Indirect Project Costs
Probability and Standard Deviation Formulae
Contract types according to risk distribution
Fixed Price Contracts, Cost-Plus Contracts
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