The estimator is viewed as the third leg in project management best practices, working hand-in-hand with the project manager and engineering lead to determine a realistic cost impact that the project would have for the project owner. The estimator would be responsible for developing the classified estimates based on the level of engineering at any given time. Aarasab NL provides clients with estimating services on all stage gates using our centralised database.
This service is provided to our clients wherein Aarasab NL also acts as an external partner to validate the client’s or EPC’s estimate based on engineering MTOs and Aarasab NL’s own database of rates and metrics. In this situation, the entire estimate is redeveloped including the indirects to provide the client with a report highlighting perceived gaps for further discussions and close-out.
Third Party Validation
This service is provided to clients who would like a second source of validation for their internally developed estimates. Aarasab NL would function as an external service provider, reviewing certain scopes of the estimate that has high impact on the bottom line cost to validate the assumptions made. These comparisons are then produced in a report format and serves as discussion points with project managers of the various parties for close out.
Risk management on projects is generally divided into 3 distinct components where Aarasab NL has been able to help its clients achieve a certain level of confidence and rigour in their projects. These 3 are event-driven risk, schedule-driven risk as well as systemic risks. Depending on the project, Aarasab NL typically hosts a project- wide risk session lasting between 1 to 3 days to gather pertinent risk information and produce the risk profile for the project. Thereafter, risks can be mitigated through action plans for close out or cost / probability allocations in the risk register.
An integral component of cost estimation is benchmarking. All estimates require a certain level of benchmarking to be done to ensure that cost metrics seen in the estimate are a close match in value and accuracy with similar real-world completed projects. Aarasab NL has an extensive database of actual construction rates and completed projects to draw this information from, to provide our clients with a high degree of precision . Aarasab NL in general produces an Estimate Confidence Package (ECP), a powerpoint document that can be used by various stakeholders on the project to showcase estimate confidence.
Cost engineering is a service provided to Aarasab NL’s clients during the project execution stage. It starts with setting up the project in the client’s financial management system using network identifications and matching that up with the WBS structures in the execution plan and the detailed schedule. Progress measurement is an integral part of that service via 30/60/90 day look-aheads so that the client project managers are kept aware of current progress as well as potential future bottlenecks that need to be managed and refined.