Create Class 4 Estimates Using Your Project History, Total Cost Management, and Cleopatra Enterprise
This is the second post in a series demonstrating how Cleopatra Enterprise facilitates creating estimates of different levels of accuracy as defined by AACE International's classification supporting its Total Cost Management (TCM) framework.
A Class 5 or screening estimate has been prepared and approved, and now you want to study the project further. Ideally you have cost data to support estimating with equipment-based factored and parametric cost models to achieve an estimate in the 40% accuracy range.
In this example, we will prepare a Class 4 estimate for the column in a distillate plant using an approach supported by a knowledgebase with predefined data and tools. Future blog posts in the series will evolve the estimate as more engineering becomes available.
We will be in Toronto at the Annual AACEI Meeting on June 26-29. Be sure to stop by and visit our booth to lear more about our TCM solution!
To learn more about Cleopatra, please join us for a special webinar introduction, March 25th at 9:00am CST.