Our extensive experience in engineering construction projects enables us to prepare cost estimates in the early project phases based on very limited information. Concept Screening Estimates (AACE Class 5) may be prepared within a very short time frame, often with little more known than proposed plant type, location, and capacity. Estimating methodology is generally stochastic and may include methods such as capacity factoring and parametric modelling techniques.
The nature of Concept Screening Estimates results in estimates with a broad accuracy range (-20% to -50% on the low side and +30% to +100% on the high side) that can be used for:
- Early assessment of viability
- Location studies
- Preliminary evaluation of alternative schemes
- Initial evaluation of resource requirements and budgeting