Project Cost Estimating: An Estimate is an essential element for any project success. While preparing our estimates we pay close attention to each detail, whether major to minor, both within and around the scope of work. GOLDEN RATIO ESTIMATING provides consistent and predictable cost estimates with a detailed basis, giving our clients complete visibility to how the estimate was developed. Accuracy of our estimates is dependent upon the level of project definition and engineering completion. Prior to delivery, each of our estimates goes through rigorous internal reviews and benchmarking against other relevant projects, from the metrics level comparison of units hours, pricing, and rates to the TIC (total installed cost) level. We support our clients in their decision making process (qualitative and quantitative), where our involvement ranges from project direct and indirects, estimation factors (location and productivity), owner’s costs, and contingency to TIC. Our global and dynamic experience with minor projects (under a million dollars) to mega projects (multi billion dollars) is one good reason your project will be within the range of our estimate for a given scope. Estimating is an essential element for any organization. Assigning the correct amount of AFE (authorization for expenditure) is vital to remain profitable and maintain your company’s reputation at project closeouts. Golden Ratio Estimating is here to help your organization’s bottom line, through superior CAPEX and OPEX estimation.
Estimate Development and Resources: Often organizations need to retain experienced estimators even in slow times. Good experienced estimators are indeed expensive and hard to find. However, the sustainability and maintenance of their skill-set is a different story. Our services are ideal for the smaller companies that are limited in their capacity to carry full time estimating resources. We offer our clients the ability to transfer their estimating requirements to us, where they can stay current and confident in their estimates, and have seasoned estimating resources available as needed while always maintaining consistency in their estimates. See Pipeline Estimating or Facilities Estimating section for more details.
Project Risk Analysis (TECOP – Technical, Economical, Commercial, Organizational and Political): Contingency development is comprised of three parts. The first component is a Risk Register, where discrete risk events are documented, and the likelihood of their occurrence as well as the impact of that risk is quantified in terms of low, medium, and high. Estimate Uncertainty is a second component, where we apply ranges to each account to capture any potential variation that could re. Management Reserves the third component, where Project Sponsors like to reserve some funds to shelter the project from cost vulnerability. Keep in mind, Contingency normally does not cover Force Majeure. We provide services for both probabilistic and deterministic Risk Management, see Risk Analysis section for details.
Process and Procedures Development Including Coding Structures: Golden Ratio Estimating is available for consulting on the development and improvement of estimating process and procedures, including estimating guidelines or manuals. Contact us for an assessment done to see if your existing estimating architecture has room for optimization. We offer estimate coding structure development to suit your organization. WE can accommodate WBS (work breakdown structure), CBS (cost breakdown structure), or customized hybrid PCS (Project Costing Structure) to estimate and control project spending against the baseline estimate. Actuals can be captured in a superior manner, so that your organization can develop unit rates, and robust project benchmarking. Please Contact Us for details.
Estimating Tools: We develop custom estimating databases on the MS Access platform; an affordable platform to purchase and maintain. Databases are modularized, allowing individual disciplines to be focused upon. This is especially helpful for those organizations that build the same kind of projects repeatedly. For example, if you are involved in mining the major focus is on Civil, Earthworks, and Structural where Processing or other Plants are Mechanical focused. An independent custom database custom is available for Pipeline Estimating only. Please Contact Us for more details and demos.
Training: Golden Ratio Estimating offers training to suit your organization, from cost engineering and cost estimating seminars to in-depth involvement with Golden Ratio Estimating. Please visit Training page for more details.
Project Scheduling: Golden Ratio Estimating provides services for project scheduling, based on the construction CPM (critical path method). Along with developing and analyzing schedules, we monitor and report schedule progress. We use the industry standard programs Primavera and MS Project as well as custom developed MS Excel base workbooks. One of our core competencies is project WBS (work breakdown structure) or client specific custom code of account (COA) structures integration between base estimate and schedule to monitor tangible progress. Dashboards and reports are generated using integrated approach to help project managers, construction managers, and executives to analyze predictable forecast. We also help our clients in developing database connectivity workbooks to bridge project cost and schedule data import/exports to other systems such as SAP.