Abstract
The emergence of innovation and technology enhancements in the mining industry to ensure cost savings requires a robust set of estimating methods. New technology requires independent assessments to ensure overarching success. How do capital project teams include new technologies in the scope to arrive at solutions that guarantees on time and within budget?
Estimators apply a variety of methods when information is unavailable. "Should Cost” is one of many.
This presentation highlights some of the challenges faced when developing capital cost estimates with innovation and technology enhancements. Project scope of work, execution, schedule and estimate need to be well defined. Clients expect project teams to know the impact of technological enhancements and the associated construction requirements. A greater understanding of all innovation and new technology is necessary to validate costs.
This presentation will explore some of the ways that Fluor has quantified these new approaches to provide the value of the enhancement and realize the true cost.
Articulating every improvement in a proficient manner is paramount. Estimating is a holistic process where results exceed the sum of its parts.