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(EST-3795) (Presentation Only) RP 115R-21, Cost Estimate Classification System - As Applied in Engineering, Procurement, and Construction for the Nuclear Power Industries

Level: Intermediate
TCM Section(s):
7.3. Cost Estimating and Budgeting
Venue: 2022 AACE International Conference & Expo

Abstract: This presentation will provide an overview of the recently published recommended practice (115R-21) on cost estimate classification for the nuclear power industries. The recommended practice provides guidelines to both owners and service providers for applying the principles of estimate classification specifically to project estimates for engineering, procurement, and construction (EPC) or other contractual arrangements and execution venues, and their related work in ongoing or developing nuclear power related projects. This recommended practice provides the nuclear power industries with a project definition deliverable maturity matrix. It also provides an approximate representation of the relationship of planning, preparation, design input data and project scope deliverable maturity with the estimate accuracy and methodology used to produce the cost estimate.