A higher level cost estimate can usually be generated during the FEED phase. Based upon the Association for the Advancement of Cost Engineering (AACE) cost estimate classification system, a typical Class 2 estimate is noted below.
Unitel Technologies employs a number of methods and tools to efficiently develop cost estimates with available data and project information. Our knowledge and history with pilot plants, demo units and other modular systems, combined with our broad process industry experience provides us a rich database to develop cost estimates during an early phase in which the level of detailed information is limited. We use parametric models based on past experience at this accuracy range. We also use equipment factored models employing our in-house major equipment data base and factoring methods combined with ASPEN Cost Estimator.
Unitel Technologies will typically provide a firm, fixed price quotation at the completion of this stage for the execution of detailed engineering and fabrication.