Lessons Learned on Estimate Classifications - …

← Back to document page

Lessons Learned on Estimate ClassificationsGord Zwaigenbaum, CCE, FAACEIAACE Toronto SectionOctober 10, 2012 MeetingOutline Project Life Cycle & Cost Uncertainty Estimate Classes & Accuracy Ranges AACEI Estimate classification Guides Nature of Process/ Mining estimates Some Challenges for Mining Projects Commonalities with Other Industries Lessons Learned Review (and Closure)2Project Life Cycle & Estimating % Time% Project Definition% Project Cost% Accuracy RangeInceptionCompletion3Project Life Cycle & Estimating TimeCostCONCEPTCOMMISSIONINGENGINEERINGC ONSTRUCTION4Project Life Cycle & Estimating TimeCostCONCEPTCLOSUREACQUISITIONOPERATI ON5Project Life Cycle & Estimating6Estimate Classes & Accuracy RangesDEFINITIVESCOPING STUDY40%20%10%15%0%80%5%40%15%0%ACCURACY RANGEENG G RANGEPREFEASIBILITYFEASIBILITYClass 5 (FEL-1)Class 25%BID CHECK100%Class 1Class 4 (FEL-2)Class 3 (FEL-3)7Estimate Classes & Accuracy RangesEstimate ClassCommercial (Office Building)Industrial (Oil Refinery) Scoping Study 20% 30% Pre-Feasibility 15% 20% Feasibility 10% 15% Definitive 5% 10% Expected Accuracy Ranges by Project Type (illustrative only)

Lessons Learned on Estimate Classifications Gord Zwaigenbaum, CCE, FAACEI AACE Toronto Section. October 10, 2012 Meeting

  Classification, Lesson, Estimates, Learned, Lessons learned on estimate classifications