Lessons Learned on Estimate Classifications - AACEi

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 & Acc

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

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

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