Presented at the GPA Europe Young Professional Training Day at IFP en in Rueil-Malmaison, France on 16 March 2017 by Nancy Rabeau, Technip France
As per the definition of AACE® International (Association for the Advancement of Cost Engineering), “Estimation is a compilation of all the probable costs of the elements of a project or effort included within an agreed upon scope”. Therefore, Estimation is a key job, responsible for the working out and the validation of all project prices, but also a central one, interacting with all activities.
Firstly, the presentation will show the role of estimation within a project team and its involvement in the early phases of a project cycle life and secondly, it will focus a conceptual methodology, the Equipment Factor Method, used in the industry.
So, Estimation is a wonderful job…Will you join it?
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