Happy New Year to everyone.
Join us to our next Virtual Technical Meeting as Compass International John G McConville presents Validating / Review of a Capital Cost Estimate
John is the Operations Director of Compass International, a Cost Estimating / Procurement Consulting & Publishing firm, which is known around the world as “the experts” on US & International Construction Costs, Global EPC Procurement & Construction Productivity.
John will discuss; owners need for accurate capital cost estimates of future construction projects. Costs for budgeting purposes early in the procurement process when minimal detailed design information / engineering deliverables is available is required, or when an EPC company has provided a detailed cost proposal to complete the work.
Validation / review methods:
· Review & critique Scope of Work
· Review CAPEX estimating practices, procedures & tools.
· Location factors were they used to adjust conceptual cost estimates by project location.
· Estimating checklists applicable to Conceptual / FEED / Funding & Detailed Lump Sum estimates.
· Utilize historical benchmarks & cost metrics from our cost data library related to 100’s of Oil & Gas / Power / Industrial / Process / Commercial Projects.
· Evaluate the state of the project engineering, procurement & construction deliverables that were used in preparing the estimate.
· Small and large projects.
· Finally deliver an independent assessment of project risks, challenges, future escalation & contingency funds necessary to safeguard the projects viability.
John will share some of his experiences and lessons learned over his 40 year career.