Develop Cost Estimates for Capital Projects

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.

This course will help you prepare for the certification exam and the exam fee is waived with this course.

Audience:

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

Training Details

  • Course Id:

    EEE101

  • Duration:

    4 day(s)

  • CEUs Awarded:

    2.8

  • Level:

    Introductory

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

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

Agenda

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
  • Explain how Aspen Capital Cost Estimator generates equipment costs and designs
  • Generate cost and design reports using the Aspen Icarus reporting feature
  • Workshop 2: Multiple Diameter Tower Alloy Study 
  • Workshop 3: Equipment List 
Volumetric Model and P&IDs
  • Explain the built-in ACCE volumetric model and equipment P&IDs and how they affect equipment costs and labor requirements
  • Workshop 4: Revise and Modify Installation Bulks
Installation Options
  • Modify installation details and options for process equipment models
  • Workshop 5: Installation Options
Area Arrangement and Importing
  • Use Areas and Report Groups to customize project scope and definition
  • Workshop 6: Area Arrangement and Importing
Installation Bulk Piping vs Plant Bulk Piping
  • Understand the difference between installation bulk piping and plant bulk piping
  • Understand how to add plant bulk items such as bulk piping and pipe racks
  • Workshop 7: Installation vs Plant Bulk Pipe
Quoted Equipment & Material/ Man-hour Additions 
  • Define quoted equipment, material, and labor costs within an Aspen Capital Cost Estimator project
  • Workshop 8: Quoted Equipment & Material Man-hour Additions
Buildings and Site Development
  • Understand how to Index Code of Accounts
  • Understand the three levels of indexation ACCE has
  • Workshop 9: Modify Pipe Rack Costs Using COA Indexing
Material and Man-hour Indexing
  • Add plant bulk items such as bulk piping, pipe racks, and site lighting/wiring
  • Workshop 10: Modify Pipe Rack Costs Using COA Indexing
Spreadsheet Export/Import
  • Discuss the import/export spreadsheet, which enables sharing of data with third-party applications
  • Discuss project standards, enabling consistency and reliability among estimates
Equipment Model and Unit Cost Libraries
  • Introduce Cost Libraries (Unit Cost and Equipment Model) as options for user specification of project-related costs
  • Workshop 11: Equipment Model Library
Custom Models
  • Briefly discuss Custom Models, which enable user customization of project components and bulks
Piping Procedures
  • Differentiate between field and shop piping fabrication procedures in Aspen Capital Cost Estimator 
  • Define and implement custom piping specifications
  • Workshop 12: Custom Piping Specifications
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 13: Defining a Process Control Network
  • Workshop 14: Defining a Power Distribution Network.
  • Incorporate acquired skills into a cumulative, detailed project estimate
  • Workshop 15: Build a Plant
Extending ACCE into Detailed Estimating
  • Make detailed adjustments to a project using Unit Rate Estimating
  • Workshop 16: Make Adjustments to a Project Using Unit Rate Estimating
Contracts
  • Investigate contract/contractor structure options and how they apply to ACCE projects
  • Workshop 17: Define a Contract Structure
Construction Labor and Equipment Rental 
  • Discuss construction equipment rental and learn how to modify rental equipment for your project
Engineering
  • Review how the system generates project engineering costs and adjust them towards specific projects
Project Schedule
  • View system-generated project schedules and learn which program options affect the schedule
  • Workshop 18: Project Schedule and Equipment Rental
Risk Analysis
  • Apply Risk Analysis to ACCE evaluation results to determine the projects contingency
  • Workshop 19: Calculate Project Contingency
ACCE Insights
  • Discuss the new workflow enabled by ACCE Insights.
  • Integrate the estimation parties to obtain a better and faster decision making for the project
Plant Turn Around
  • Discuss Aspen Capital Cost Estimator’s default volumetric model and how to toggle it off for turnaround projects.
  • Discuss the differences between the M and N option to suppress volumetric model  

 

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Houston , Texas USA 77042 		Price: (USD) 4400.00 Language: English Register
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Houston , Texas USA 77042 		Price: (USD) 4400.00 Language: English Register
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Houston , Texas USA 77042 		Price: (USD) 4400.00 Language: English Register
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Houston , Texas USA 77042 		Price: (USD) 4400.00 Language: English Register
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Houston , Texas USA 77042 		Price: (USD) 4400.00 Language: English Register
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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.