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Do You Always Under Estimate Your Projects?

October 31st, 2009 No comments

 

I got a request the other day looking for someone to do a workshop on estimating. Some engineers were interested in what projects really cost and how are these costs developed. It sounded like they were doing the estimating and were always wrong. If you do not understand what goes into an estimate and the process involved you will always end up with a poor estimate. In this article I want to give them, and you, the detail that goes into an total installed cost (TIC) estimate for a complex project (multi-disciplined project). This is an estimate that covers the on site field work as well as the engineering and owners costs.

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