This service is provided to end users who are currently in the FEED process. A common approach is that ACS is engaged to perform an independent cost (+/- 20%) estimate in order for the owner-operator to receive a current snapshot of the cost at a given point.
Then a second (+/-10%) estimate will be completed by ACS towards the end of the FEED process. The objective is to provide another cost estimating data point to compare with the data provided by the EPC contractor. That way, a review of the parallel check estimate can be conducted with the owner, providing independent third-party perspectives. Often times, a comparative analysis is developed by ACS using both the EPC’s and ACS’ estimate to identify and highlight the gaps.
This service is provided independently to engineering, procurement, and construction (EPC) companies, owner-operators or joint venture partners. In some cases, an owner-operator only requests ACS to prepare the cost estimate in early stages of the project development process to save time and cost. In addition, it is also common that ACS prepares independent cost estimates throughout the entire lifecycle of the project from concept to construction.
This service whereby ACS will lead a formal risk meeting of the project estimate in order to agree on proposed risk ranges and set the project contingency for the estimate. The objective would be to determine the estimated risks by identifying parameters (ranges) based on the likelihood of some occurrence that would impact on the project costs. From that, ACS performs a risk analysis and work with our clients to set a realistic contingency value for the estimate using the organization’s probability of overrun / underrun point.
ACS reviews the project estimate prepared by an owner-operator or EPC contractor through a series of benchmarks and comparisons. The project estimates will be compared to similar project types, locations, or capacities in order to identify gaps or areas of the estimate that may be out of range according to the metrics and ratio analysis. With this information, ACS is able to prepare and deliver a final report with findings, conclusions, and recommendations.
These are services provided to owner-operators, joint venture partners, or financial investor stakeholders. The primary objective is to provide due diligence and represent the owner’s interest when evaluating EPC prices during contractor selection and construction execution. ACS would support the owner’s project team in order to assess all the quotations received during the invitation to bid (ITB) process or while commissioning is ongoing.
