Accuracy in cost estimation is crucial for the success and feasibility of capital projects. Yet cost estimates often involve uncertainty and unforeseen circumstances that can negatively impact the project timeline and budget.

Cost estimation is one of the key aspects of any engineering project, as it provides the basis to decide the feasibility and budget for the project. Yet cost estimation is often enclosed by uncertainty since during early engineering stages there is still very little information available. How can engineering teams find the most profitable designs when the project is still under development?

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As sustainability targets drive the energy industry towards a net zero future and energy security concerns intensify, companies are challenged to meet these competing demands within financial and workforce restraints. Owners and EPCs must cater to short-term energy demands while simultaneously positioning themselves for the long-term energy transition projects gaining traction.

Aspen Unified Reconciliation and Accounting (AURA) is the next generation production accounting solution that addresses key market needs: fast and efficient mass and volume balance, advanced analysis, reporting and visualization to enhance collaboration among key stakeholders and enable agile decision making. Use this interactive infographic to discover how AURA effectively manages the business process of measuring, validating, reconciling and publishing all the flows and inventories into, within and out of a plant.

As digitalization initiatives sweep through engineering departments at both EPC and Owner companies, executives are striving to better connect their design, engineering and estimating workflows. With improved design outcomes and more accurate and timely estimating on the line, the clock is ticking to deliver results from these initiatives.

Sustainability remains top-of-mind for most executives as they work to balance environmental concerns with business performance. Digital solutions have emerged as a key enabler to help companies make progress toward their sustainability goals.

Achieve new levels of automation with Aspen OptiPlant 3D Layout! Cut optioneering time in half to identify the best designs faster and reach up to 30% savings on capital expenditures.

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According to a June 2020 McKinsey report, “The Next Normal in Construction,” EPCs have an opportunity to double their profitability by embracing a handful of “emerging disruptors.” One of these disruptors, digitalization of processes, is within reach of most EPCs and aligns with initiatives already underway at many firms. Join us to learn more about: