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Lessons Learned on Estimate Classifications - …

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)2 project Life Cycle & Estimating % Time% project Definition% project Cost% Accuracy RangeInceptionCompletion3 project Life Cycle & Estimating TimeCostCONCEPTCOMMISSIONINGENGINEERINGC ONSTRUCTION4 project Life Cycle & Estimating TimeCostCONCEPTCLOSUREACQUISITIONOPERATI ON5 project Life Cycle & Estimating6 Estimate Classes & Accuracy RangesDEFINITIVESCOPING STUDY40%20%10%15%0%80%5%40%15%0%ACCURACY RANGEENG G RANGEPREFEASIBILITYFEASIBILITYC lass 5 (FEL-1)Class 25%BID CHECK100%Cl

Outline Project Life Cycle & Cost Uncertainty Estimate Classes & Accuracy Ranges AACEI Estimate Classification Guides Nature of Process/ Mining Estimates

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