About this document
AACE Cost Estimate Class Overview by BramJanssen76 is a document available to read on EtoBox.
This document discusses factors that affect cost estimation accuracy for chemical process industry capital projects. It defines key terms related to cost estimates and project risks, such as base estimate, contingency, allowances, and accuracy range. The level of scope definition has the greatest impact on cost uncertainty, with estimate accuracy improving as the project scope is further defined. Biases during estimation, from pressures to sanction projects or avoid cancellations, can also introduce uncerta
- Author
- BramJanssen76
- Language
- EN