When facing a new engineering challenge, it can be difficult to realise your vision and the process involved with arriving at the end solution. You may have considered some of the options or avenues to take, but determining the most cost effective, efficient and suitable process is a difficult decision that should be informed with professional research and evaluation.
The Addison team of experienced engineers and operations professionals can help you to make the right business decision by evaluating each option against a broad range of factors, specified by you. These can include, but are not limited to:
- The technical and engineering viability
- Capital cost
- Opportunity cost
- Operating cost (if scope definition allows)
- Regulatory compliance
- Risk assessment
- Implementation timing and operational impact
- Cash flow
Alongside the evaluation of options, Addison Project can also provide detailed and accurate cost estimates. Our database of cost data allows us to quickly provide estimates, with accuracy depending on your project scope. We can provide project feasibility and cost estimates for the following stages of a project:
- Guesstimate – typically a factored estimate based on major equipment purchase cost
- Pre-authorisation – based on an outline scope definition and preliminary site layouts, process flow diagrams and P.& I.D.’s
- Authorisation or Sanction Grade – produced after completion of the process or Front End Engineering Design (F.E.E.D.), with a typical accuracy of +10%
- Control – produced towards the end of the detailed engineering phase and used to check adequacy of funding and as a Key Performance Indicator (KPI) for the implementation of the project
With this phased development of project concepts, working closely with client staff, we can ensure that the whole life cycle of a capital investment project is managed effectively so that your business objectives are achieved.