Introduction to Aspen Capital Cost Estimator

Course Id:  EEE101   |   Duration:  4.00 day(s)   |   CEUs Awarded:  2.8   |   Level:  Introductory


Course Objective

Learn how to obtain detailed EPC estimate from minimal input in a fraction of the time required by traditional methods. Use Aspen Capital Cost Estimator to evaluate your company's projects and maximize return on investment. Reduce estimation variability by adopting a consistent methodology. Make adjustments to project estimates according to local area conditions and reduce potential decision making risks.

Course Overview

Create and build detailed project estimates using Aspen Capital Cost Estimator. Use the Aspen Capital Cost Estimator system more effectively, tailoring it to specific project estimates.

Benefits

  • Use Aspen Capital Cost Estimator to evaluate your company's projects and maximize return on investment
  • Build, interpret, and revise estimates in a fraction of the time required by traditional methods
  • Make adjustments to project estimates according to local area conditions and reduce potential decision making risks
  • Use system documentation to promote consistent cost estimating methodologies and reduce estimation variability
  • Learn how the various specifications levels input impact final cost
  • Maximize your ability to produce consistent, reliable estimates and reduce the risk involved in making decisions

Audience

Project engineers, cost estimators, and discipline engineers new to Aspen Capital Cost Estimator.

Approach

  • Instruction on basic topics
  • Discuss general approach to building a project/estimate and the key elements for successful usage
  • Participate in instructor-guided demonstrations which show how the product features contribute to efficient estimate preparation
  • Hands-on workshops provide students with many opportunities to use the product and to apply concepts learned in seminar sessions
  • Detailed course notes

Subsequent Courses

  • EEE102 Introduction to Aspen Process Economic Analyzer
  • EEE103 Introduction to Aspen In-Plant Cost Estimator
  • EEE201 Aspen Capital Cost Estimator: Advanced Topics

Class Schedule

Class Agenda

EEE101: Introduction to Aspen Capital Cost Estimator

Aspen Economic Evaluation Technology

  • Summarize the Aspen Economic Evaluation products and technology
  • Introduce the Aspen Capital Cost Estimator (ACCE) concepts

Definition of the Project Scope
  • Discuss how project specification and project components are used to define the project scope
  • Review the levels of input in Aspen Capital Cost Estimator

Graphical User Interface (GUI)
  • Familiarization with the Aspen Capital Cost Estimator graphical user interface (GUI)

Project Basis View
  • Implement project basis and scope specifications via Standard Basis Files and Template File
  • Workshop 1: Entering Project Basis Information

Project Components
  • Discuss how the Aspen Capital Cost Estimator system develops construction labor man-hours
  • Introduction to specifying process equipment
  • Review and understand how Aspen Capital Cost Estimator generates equipment costs and designs
  • Understand how to generate cost and design reports using the Aspen Icarus reporting feature
  • Workshop 2: Multiple Diameter Tower Alloy Study
  • Workshop 3: Equipment List

Area Arrangement & Importing
  • ¬† Use Areas and Report Groups to customize project scope and definition
  • ¬†Workshop 4: Area Arrangement & Importing

Quoted Equipment & Material/ Man-hour Additions
  • Define quoted equipment, material, and labor costs within an Aspen Capital Cost Estimator project
  • Workshop 5: Quoted Equipment & Material Man-hour Additions

Equipment Model and Unit Cost Libraries
  • Introduce Cost Libraries (Unit Cost and Equipment Model) as options for user specification of project-related costs
  • Workshop 6: Equipment Model Library

Custom Models
  • Briefly discuss Custom Models, which enable user customization of project components and bulks

Material and Man-hour Indexing
  • Discuss Code of Account Indexing and Allocation
  • Workshop 7: Modify Pipe Rack Costs Using COA Indexing

Unit Rate Estimating
  • Make detailed adjustments to a project using Unit Rate Estimating
  • Workshop 8: Make Adjustments to a Project Using Unit Rate Estimating

Plant Bulk Piping and COA Allocation
  • Add plant bulk items such as bulk piping, pipe racks, and site lighting/wiring
  • Workshop 9: Adjust Utility Pipe Cost Reporting Using COA Allocation

Buildings and Site Development
  • Define buildings and site development items within a project estimate
  • Workshop 10: Plant Bulks, Buildings, and Site Development

Customer External Files
  • Overwrite and supplement various project design rules and options using Customer External Files

Piping Procedures
  • Differentiate between field and shop piping fabrication procedures in Aspen Capital Cost Estimator
  • Define and implement custom piping specifications
  • Workshop 11: Custom Piping Specifications

Volumetric Model and P&IDs
  • Understand the built-in ACCE volumetric model and equipment P&IDs and how they affect equipment costs and labor requirements
  • Workshop 12: Revising and Modifying Installation Bulks

Installation Options
  • Modify installation details and options for process equipment models
  • Workshop 13: Installation Options

Plant Layout and Key Distances
  • Discuss how ACCE interprets key distances within a process facility and how these affect a project estimate

Process Control and Power Distribution Networks
  • Show setup requirements for power distribution and process control options and methodology using ACCE
  • Workshop 14: Defining a Process Control Network
  • Workshop 15: Defining a Power Distribution Network.
  • Incorporate acquired skills into a cumulative, detailed project estimate
  • Workshop 16: Build a Plant

Contracts
  • Investigate contract/contractor structure options and how they apply to ACCE projects
  • Workshop 17: Defining a Contract Structure

Engineering
  • Review how the system generates project engineering costs and learn how to adjust them towards specific projects
  • Workshop 18: Engineering

Construction Equipment Rental
  • Discuss construction equipment rental and learn how to modify rental equipment for your project

Project Schedule
  • View system-generated project schedules and learn which program options affect the schedule
  • Workshop 19: Project Schedule and Equipment Rental

Spreadsheet Export / Import
  • Discuss spreadsheet import/export, which enables sharing of data with third-party applications
  • Discuss project standards, enabling consistency and reliability among estimates

Aspen Technology, Inc. awards Continuing Education Units (CEUs) for training classes conducted by our organization. One CEU is granted for every 10 hours of class participation.