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Level: Basic
TCM Section(s): 7.3. Cost Estimating and Budgeting
Venue: 2020 AACE International Conference & Expo
Abstract: Presenting capital cost estimates can be challenging, especially when it involves the presence of clients, colleagues or perhaps a third-party review team.The pressure of preparing and presenting is coupled with the efforts of simply trying to finish an estimate on time.Requirements can vary according to the nature of each project, class of estimate, level of detail, type of client, time limits, and a host of other factors, and therefore a simple one-size fits all approach, or presenting the full estimate plan or basis of estimate is not ideal.Presentations are a powerful tool in helping to convey a message to clients, and it is sometimes the first window the client has into the overall estimate, so it’s important to deliver the best product, as future opportunities may be limited.
This article will attempt to discuss the important items to consider when presenting an estimate to a client.The intention is to create a starting point for estimators and project controls staff to use in the development of presentations from high level studies to detailed estimates and provide a basis upon which others can further develop and tailor their own set of standards.
Estimate presentations should also consider various technical and soft skills which can also help in the presentation process. Ideally, it would be recommended to consider developing custom presentation templates for various levels of estimates and applications, gradually improving and incorporating feedback into each subsequent version.
TCM Section(s): 7.3. Cost Estimating and Budgeting
Venue: 2020 AACE International Conference & Expo
Abstract: Presenting capital cost estimates can be challenging, especially when it involves the presence of clients, colleagues or perhaps a third-party review team.The pressure of preparing and presenting is coupled with the efforts of simply trying to finish an estimate on time.Requirements can vary according to the nature of each project, class of estimate, level of detail, type of client, time limits, and a host of other factors, and therefore a simple one-size fits all approach, or presenting the full estimate plan or basis of estimate is not ideal.Presentations are a powerful tool in helping to convey a message to clients, and it is sometimes the first window the client has into the overall estimate, so it’s important to deliver the best product, as future opportunities may be limited.
This article will attempt to discuss the important items to consider when presenting an estimate to a client.The intention is to create a starting point for estimators and project controls staff to use in the development of presentations from high level studies to detailed estimates and provide a basis upon which others can further develop and tailor their own set of standards.
Estimate presentations should also consider various technical and soft skills which can also help in the presentation process. Ideally, it would be recommended to consider developing custom presentation templates for various levels of estimates and applications, gradually improving and incorporating feedback into each subsequent version.