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%Class 1 Class 4 (FEL-2)Class 3 (FEL-3)7 Estimate Classes & Accuracy RangesEstimate ClassCommercial (Office Building)Industrial (Oil)

Project Life Cycle & Estimating % Time % Project Definition % Project Cost % Accuracy Range. Inception. Completion. 3

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  Project, Cost, Classification, Lesson, Estimates, Learned, Estimating, Lessons learned on estimate classifications, Project cost

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