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(EST-3818) (Presentation Only) Equipment-Factored and Engineering-Model Estimates

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

Abstract: Supporting AACE Class 4 estimates in the process industries, the maturity of technical deliverables should typically have progressed to include a preliminary equipment list, preliminary plot plan, and process flow diagrams. These primary scoping documents support the preparation of estimates using equipment factored and engineering-model methodologies.
This presentation provides an overview of these AACE Class 4 estimating methodologies. There is a variety of equipment factored estimating techniques that can be applied to estimating process facilities, and several examples will be presented and discussed. Engineering-modeled estimates typically use specific commercial software applications. Examples for upstream and downstream oil and gas facilities will be presented.