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?

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.

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:

While most chemical companies have sustainability initiatives in place with varying reliance on digital technologies to achieve these goals, challenges remain. What are the key enablers to eliminate emissions and waste, extend material use and regenerate natural systems? How do new innovations accelerate this effort?

To realize the maximum potential for optimization, process plant design must simultaneously address multiple factors. The most successful organizations bring together people from across the business to optimize design and operations. Cross-disciplinary teamwork that takes a big-picture, integrated approach to optimization delivers superior business results, including reduced CAPEX and OPEX, faster time to market, greater energy efficiency and higher profit margins.

Cuando se está en la fase de desarrollo del proceso el comprender las consecuencias económicas de las decisiones generalmente requiere que un ingeniero de proceso y un estimador pasen las hojas de datos y las condiciones de proceso de un lado a otro. Con Activated Economics puede obtener las aproximaciones económicas inmediatamente mientras construye la configuración de su proceso sin necesidad de cambiar entre distintos programas de software.

Delivering accurate and consistent estimates, on time, contributes to an Engineering and Construction firm’s profitability. Brett Perroux, Estimating Section Lead/Systems Estimator from Jacobs Engineering, will discuss best practices such as calibration that will improve your ability to make sharp and consistent estimates. Brett’s insights will help produce better quality estimates by recognizing risks earlier in the process, allowing for better decisions and producing more efficient workflows

Repeatable designs are used increasingly in the process industry to minimize capital costs and reduce project risk and uncertainty. Using the highly integrated aspenONE® Engineering suite, engineering teams can easily capture best practice designs, and rapidly reuse them on new projects.