- Support final economic viability assessments and decisions
- Secure project funding and approvals
- Act as a control base for project implementation
- Evaluate options
The goal is to achieve high accuracy with defined, manageable risks. This estimate is suitable for fund appropriation and typically maintains an accuracy level of ±15%. All costs, both direct and indirect, are based on new equipment and materials. Cost escalation will account for the annual inflation rate, applied to the project cash flow and schedule.
Savings are realized during detailed engineering and design stages, as a significant portion of the engineering work is already completed at this point.
