Cost Engineering is the application of scientific principles and techniques to problems of estimation; cost control; business planning and management science; profitability analysis; project management; and planning and scheduling.
COST ESTIMATING
A collaborative approach for project success
CRAWFORD believes having the resources that will support your projects working together in the same building mitigates risk, fosters problem-solving teamwork, and ensures open communication through the life-cycle of the project. Additionally, having a dedicated team of professionals within the same office working on your projects leads to a more efficient and cost effective approach that can be passed onto the client.
On a CRAWFORD led team we believe communication is the most important component with any project. The success of most projects, whether handled by a dedicated project team or a cross-departmental team, depends upon a set of crucial communication skills and techniques. All CRAWFORD estimates are consistent with the best estimating practices, as defined by AACE International, and are current, accurate, and complete. They reflect the expected cost to our clients to perform the work by contract and include all reasonable costs which a prudent, experienced, and well-equipped contractor might anticipate and include in their bid.
Total Cost Management
Total cost management is that area of engineering practice where engineering judgment and experience are used in the application of scientific principles and techniques to problems of business and program planning; cost estimating; economic and financial analysis; cost engineering; program and project management; planning and scheduling; cost and schedule performance measurement, and change control.
Simply stated, it is a systematic approach to managing cost throughout the life cycle of any enterprise, program, facility, project, product, or service. This is accomplished through the application of cost engineering and cost management principles, proven methodologies, and the latest technology in support of the management process.
Estimate Development
As part of AEMS’s integrated Project Services department, our professional estimators understand that an accurate and dependable estimate is a critical element to the success of any project.
Our robust estimating methodology is based on decades of integrated engineering project experience and offers the advantage of both our significant cost database and our expertise with digital execution architecture. This methodology allows AEMS to produce quality estimates quicker and with more confidence in the underlying data
AEMS’s professional estimating capabilities include:
Conceptual estimates for project screening and technology selection
Detailed estimates to support project funding and final investment decision (FID)
Our estimating team assumes several responsibilities to support estimate development:
- Works closely with the engineering disciplines and project team to ensure all project scope is captured and that the provided material take-off (MTO) is complete and in a format to ensure quick estimate development.
- Consults with the client and project team to develop a logical work breakdown structure (WBS) for the estimate.
- Works with the client to either develop a code-of-accounts (COAs) or implement an existing COAs.
- Clearly identifies and documents all risks that may significantly impact the project’s outcome.
- Clearly identifies and documents all opportunities that could help in the project’s success.
- Provides a detailed and comprehensive estimate basis that defines all processes, variables, methodologies, and assumptions used to develop the estimate