Conceptual / Feasibility Cost Estimates: Prepared during feasibility studies for various technically feasible options using factored estimation and/or parametric models and preliminary Material Take Offs (MTOs). Typical Accuracy Range for Conceptual Cost Estimate is ± 25% to ±30%.
EPIC / FEED Cost Estimates: Prepared upon completion of Front End Engineering Design. Generally, at the completion of FEED, Engineering is almost 20% to 40% complete. Typical Accuracy Range for EPIC Cost Estimate is ± 15% to ± 20%.
EPIC / Construction Tender Estimates: Prepared to assist Clients to conclude a winning Tender price while minimizing risks in a systematic way. Typical Accuracy Range for EPIC Cost Estimate is ± 5% to ± 10%.
Cost Optimization through Pre-bid value engineering, risk assessment, scope validation, estimate accuracy checks, systematic method of contingency calculation based on risk factors are inbuilt features of our estimation methodology. We ensure 100% compliance to our promised accuracy.
“Protecon provides Project Cost Management Services utilizing state of art Tools, Analysis and advisories to our Clients.”
The package includes:
- Project Cost Management Plan
- Commitment Recording & Monitoring System
- Cost Forecasts & Trend analysis
- Earned Value Management (EVM) Reports
- Yard Stick Cost Estimate (Budget) for each Purchase Order / tender
- Advisories on possible venues of Cost Savings
- Change Impact analysis – Forex Changes, Tax structures, Scope Changes
- Accurate Cash Flow Quarterly Reports for fund management
