Lessons Learned on Estimate Classifications - AACEi

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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 (F)

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