Aspen Capital Cost Estimator: Advanced Topics

Course Id:  EEE201   |   Duration:  5.00 day(s)   |   CEUs Awarded:  3.5   |   Level:  Advanced


Course Objective

This advanced course will help you gain the experience you need to use Aspen Capital Cost Estimator for detailed estimates and cost tracking, all phases of estimating the lifecycle of a job, and using the decision analyzer to scale estimates. Get hands-on experience with the import/export feature and detailed unit rate estimating in Aspen Capital Cost Estimator that will help you increase CAPEX estimate precision, reduce estimate uncertainty, and speed up estimate reviews. You will also learn how to get more out of your subcontract structure in Aspen Capital Cost Estimator and use the modularization feature to add to your company's ROI. 

Course Overview

  • Learn advanced topics for creating and building detailed project estimates using Aspen Capital Cost Estimator (ACCE)
  • Learn how to use the Aspen Capital Cost Estimator 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 decision making risks
  • Use system documentation for consistent cost estimating methods and reduce estimate variability
  • Learn how the various levels of specifications impact final cost
  • Maximize your ability to produce consistent, reliable estimates

Audience

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

Approach

  • Instruction on basic topics
  • Discussion of the best practices to build a project/estimate and the key elements for successful estimates
  • Participate in instructor-guided demonstrations which show how the powerful tools of ACCE produce efficient accurate estimates.
  • Hands-on workshops provide students many opportunities to use the product and to apply  learned concepts to daily estimating demands.
  • Detailed course notes

Prerequisites

EEE101 Develop Cost Estimates for Capital Projects

Class Schedule

Class Agenda

EEE201: Aspen Capital Cost Estimator: Advanced Topics

Introduction

Key Parameters Which Drive Estimating Quantities

  • Discuss which parameters considered by ACCE drive cost quantities in a given project
  • Discuss the impact Project and Area level specifications have in the volumetric model
  • Emphasize the importance of defining correctly the components 
Area Concepts
  • Identify and explain the use of Areas in ACCE
  • Demonstrate how to set Area level specifications
  • Review the Area types available in ACCE and discuss their differences
  • Demonstrate how equipment is installed, costed and modified in ACCE (foundations, structures, lighting, etc.)
  • Demonstrate how to setup ISBL/OSBL designations for IPA Reports
Line Sizing
  • Demonstrate the data entry requirements to define bulk pipe size
  • Understand the key parameter that affect the size of any line calculated by the software
Volumetric Modeling
  • Demonstrate how ACCE uses P&IDs and Volumetric Models to price a component
  • Differentiate between Internal and External Volumetric Model
  • Learn how to modify the volumetric model to accommodate your project P&ID
Testing Hours and Buried Items Calculation
  • Review how ACCE calculates rework and testing hours, grounding calculations and buried pipe calculations
  • Understand what “Other Accounts” reported in the Key Quantity Summary report are
Pricing Components Not in the System
  • Show different options to model components not available in ACCE
  • Understand the difference between Quoted Equipment and Unit Cost Library Item.
  • Discuss how to add Bollards, Sonotubes and Variable Frequency Drives. 
  • Workshop #1 Plant Review Workshop
Source of Pricing
  • Define the source of each piece of equipment entered in the project build
  • Workshop #2 Source of Pricing
Project Layout Definition
  • Show how ACCE establishes key distances to run wire and cable for electrical and process control
  • Demonstrate how costs are reported at the following levels:
    • Component Level 
    • Area Level
    • Project Level
Process Control and Power Distribution
  • Show setup requirements for power distribution and process control options and methodology using ACCE
Electrical Single Line Diagrams
  • Gain an understanding of electrical single-line diagrams and single-line symbols
  • Review Aspen Capital Cost Estimator (ACCE) generated power distribution (PD) architecture
  • Present the ACCE Power Distribution architecture in single-line diagrams
  • Workshop #3 Power Distribution
  • Workshop #4 Process Control
Creating a Secondary Process Control
  • Learn how to define a secondary control system in ACCE
  • Learn and about the seven types of secondary control systems available to the user
  • Workshop #5 Secondary Control System
Communications and Alarms
  • Show how to add communication and alarms to a Project, an area or as a bulk component
  • Workshop #6 Communications and Alarms
Special Instrument Valves
  • Identify and explain the data entry requirement for specialty valves
  • Review and evaluate the results for the specialty valves
  • Workshop #7 Solenoid Control Valve
Cross Country Pipe Lines
  • Understand the Pipe Line Area Capabilities of ACCE
  • Discuss the Uses and Limitations
Pipe Fittings Frequency Rule
  • Explain the Piping Fitting Rules
  • Learn how to create a Fittings External File
  • Workshop #8 Fittings Customization
Escalation Indices
  • Identify and explain the methodology for updating the ACCE cost basis to the estimate date
  • Identify and explain how to escalate the estimate cost from the estimate date to the mid point of cash flow
  • Demonstrate how to generate a report to display spread or accumulated escalation
Code of Accounts and Indexing
  • Explain the Code of Accounts (COA) used by ACCE
  • Demonstrate how to rename COA
  • Demonstrate how to transfer cost and man hours from one COA to another COA
  • Demonstrate how to use COA indexing
  • Define the difference between escalation and indexing
  • Define the difference between COA indexing and contingency
Location Index
  • Understand what Location Indexation is how it affects the final cost of the project 
  • Workshop #9 Code of Accounts
Crew Mixes
  • Learn how can user define new crafts to the system crew mixes
Contracts
  • Show how to organize areas for a contract structure
  • Learn how to create engineering workforces (EWF) and construction workforces (CWF) for contracts
  • Learn how to define Contract structures
  • Understand how Contract Work Scopes (Consets) work
  • Assign work to the Consets 
  • Understand what Indirect costs are linked to contractors
Customer Indirects File
  • Demonstrate how to create a Customer Indirect File
  • Show how to enter direct labor and material proratables
  • Workshop #10 Customer Indirects 
Customer Steel File
  • Learn how to replace the system internal unit prices for steel with the user’s unit price steel data base costs
  • Demonstrate how to complete the customer external steel specifications form
  • Workshop #11 Steel External
Decision Analyzer
  • Demonstrate how to use the Decision Analyzer component within ACCE to scale a plant up or down
  • Show the power factors for quoted equipment and library items
  • Demonstrate sizing limitations for components
  • Workshop #12 Decision Analyzer
Currency
  • Demonstrate how to enter the project currency and exchange rates into ACCE
  • Demonstrate how to enter multiple currencies and exchange rates into ACCE
  • Review the Overall-Currency COA Summary (Currency Report) in ACCE
Merging Components and Areas

Spreadsheet Import/Export
  • Discuss the import/export spreadsheet, which enables sharing of data with third-party applications
  • Discuss project standards, enabling consistency and reliability among estimates
  • Workshop #13 Spreadsheet Import / Export
Detailed Unit Rate Estimating 
  • Make detailed adjustments to a project using Unit Rate Estimating
  • Workshop #14 Detailed Unit Rate Estimating
Counting Equipment in ACCE
  • Demonstrate how ACCE counts equipment
  • Review equipment components that are priced, but not counted
  • Show how the “User specified equipment count” impacts equipment count
Discussion of Reports 
  • Open discussion between attendees to see how their companies currently use ACCE output reports
  • Review the power of the ACCE reporting system to enhance the reporting of estimate results
Exporting ACCE to an Access Database
  • Discuss how the Interactive Reports are created
  • Discuss how users can create their own Access Database file
Error Trapping
  • Demonstrate how to scan a scenario to find errors
  • Identify and explain the error message types reported by ACCE and discuss their meaning 
  • Demonstrate how to review error messages in the list view window
  • Workshop #15 Error Trapping
Exporting to SPECS file
  • Demonstrate how to export the scenario SPECS file from an existing project
  • Repair a corrupted file
  • Then reimport the repaired file
  • Workshop #16 SPECS file
Modules
  • Learn how to define Modules in ACCE
  • Verify the Output Information
  • Create Effective Reports
  • Workshop #17 Modules 
File Locations
  • Identify and explain the various file locations within ACCE
Navigating the Documentation
  • Demonstrate how to access the reference documents in ACCE
  • Use “F1” key for quick access to equipment documentation
Conclusion

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.