The role of cost estimating in a large process project
Project Lifecycle Savings and Outcomes
QSoft software targets the workflow in early stages of a project to build or revamp a refinery, pipeline, or other process facility. QPlant and QPipe help provide insight into costs, risks, and rewards with reduced turnaround time and effort for each design iteration. This means being able to make wiser investment decisions.
A large engineering project moves through phases. As the project proceeds, the amount of information about project specifics becomes increasingly mature. At each stage the challenge is to understand based on the limited information so far whether it makes sense to continue funding the project to the next stage.
The conceptual phase of a project is when the process is being designed and feasibility evaluated. Work moves through interations to find the best process to present in a formal gate funding review to determine if more detailed phases should proceed. This stage is sometimes called FEED or DBM.
The Process is Designed by Iteration Each revision of a process design is passed to a design team to determine equipment, and a costing team to determine cost. This process involves 3 roles and can take several days per cycle.
Tighten up the Stages of the Process
QPlant can determine physical equipment, equipment sizes, piping, and fittings based on a PFD, and peforms a detailed economic analysis. The three roles in the process iteration become one tightly-integrated block.
QPlant's Integrated Workflow Increases Efficiency Labour hours to produce the estimate are reduced, and the overhead of passing the project between departments is eliminated.
QPipe and QPlant can import data from a wide variety of sources, saving laborious and error-prone data entry.
Better Project Profitability
Shorter iterations mean more alternatives considered, deeper what-ifs, sharper understanding of project sensitivities and risks, wiser decisions, and higher profits.