~ Writing a Basis of Estimate ~
The Recommended Practices issued by AACE International are widely recognized and have been adopted in estimating and control departments across the process industries. Until recently, the focus of these practices was mainly on capital projects. However, they are now also beginning to cover Maintenance Turnarounds.
A first RP on Maintenance Turnarounds, RP112-20 was issued in March 2021. This RP provided a framework for standardization of cost estimate classes for maintenance turnaround cost estimates across the process industries. The primary contributor to this RP was is Gordon Lawrence, Becht’s Regional Manager for Maintenance Turnarounds & Capital Projects.
The AACE has now published a second RP on maintenance turnarounds and the primary author is again Gordon Lawrence. RP116R-21 focuses on the value of writing a “Basis of Estimate” document when preparing a turnaround estimate and provides an outline of what such a document should contain. Gordon was supported in the preparation of this RP by fellow AACE members Arnaldo Angelini, Jeffery Borowicz, Nathan Dykstra, Praveen Kumar and Dave Kyle.
Cost estimating for maintenance turnarounds has historically lagged behind capital projects in terms of estimate methodology rigor and standardization. This RP helps to move estimating methodologies for maintenance turnarounds a step further forward. To access the RP116R-21, visit aacei.org.
RP116R-21 is the fifth AACE RP that Gordon Lawrence has been involved with. Becht is proud to be actively involved in codes and standards committees throughout our industry. Our subject matter experts use their multidisciplinary knowledge and holistic approach in every project.
Need advice or counsel for estimating costs of your turnarounds? Contact a Becht expert regarding your future plans.