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(EST-901) Project Scope of Work and Cost Estimating

Primary Author: Mr Kul B Uppal PE CEP Conquest Consulting Group

Audience Focus: Intermediate
Application Type: Experience-Based
Venue: 2012 AACE International Annual Meeting, San Antonio, TX, USA

Abstract: For a typical project, in oil related industry costing several hundred million dollars or a small construction project costing few thousand dollars - the need for scope of work and accurate cost estimate is essential for each project. Both entities must ensure that the completed project is in line with the agreed-upon scope of work, with minimal change orders and at a cost close to the estimate. Today's bottom-line-oriented senior project managers define success differently than did their predecessors. In order to alleviate the fear of misleading numbers in the corporate world, this paper presents a unique way of establishing the project scope of work before the start of any estimating related activity. The scope of work coupled with the availability of several cost estimating techniques and state of the art estimating tools, will ensure all project owner get what is required for cost and schedule, with few delays and within appropriated funding amounts.