Calculating Project Contingency Using Cost Risk Analysis in Aspen Capital Cost Estimator™ (ACCE)
Aspen Capital Cost Estimator (ACCE) empowers project teams to perform integrated cost risk analyses using Monte Carlo simulations, helping ensure budget reliability for capital projects.
In this jump start guide, you'll learn how to use ACCE to calculate contingency for a gas plant estimate by identifying key cost risks and generating probabilistic outcomes, all within a streamlined, data-connected platform that eliminates manual transfers and accelerates decision-making.
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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?
Jump Start:
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Video:
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