18 r - 97 pdf

This document is intended to provide a guideline, not a standard. It is understood that each enterprise may have its own project and estimating processes and terminology, and may classify estimates in particular ways.

This guideline provides a generic and generally acceptable classification system for the process industries that can be used as a basis to compare against.

This recommended practice should allow each user to better assess, define, and communicate their own processes and standards in the light of generally-accepted cost engineering practice.

All items in the estimate are usually unit cost line items based on actual design quantities. Alternate Estimate Names, Terms, Expressions, Synonyms: Maturity Level of Project Definition Deliverables: Full detail, release, fall-out, tender, firm price, bottoms-up, Key deliverable and target status: All deliverables in the final, detailed control, forced detail, execution phase, master maturity matrix complete. Construction contractors may prepare Class 1 estimates to support their bidding and to act as their final control baseline against which all actual costs and resources will now be monitored for variations to their bid.

During construction, Class 1 estimates may be prepared to support change management. This is a checklist of basic deliverables found in common practice in the process industries.

The maturity level is an approximation of the completion status of the deliverable. The completion is indicated by the following letters. None blank : development of the deliverable has not begun. Started S : work on the deliverable has begun. Development is typically limited to sketches, rough outlines, or similar levels of early completion. Preliminary P : work on the deliverable is advanced. Interim, cross-functional reviews have usually been conducted. Development may be near completion except for final reviews and approvals.

Complete C : the deliverable has been reviewed and approved as appropriate. John R. Stevens, G. Morgantown, WV, Whiteside, II PE. Open navigation menu. Close suggestions Search Search. User Settings. Skip carousel. Carousel Previous.

Carousel Next. What is Scribd? Explore Ebooks. Bestsellers Editors' Picks All Ebooks. Explore Audiobooks. Bestsellers Editors' Picks All audiobooks. Explore Magazines. Editors' Picks All magazines. Explore Podcasts All podcasts. Difficulty Beginner Intermediate Advanced.

Explore Documents. Uploaded by Loreto Urra Contreras. Document Information click to expand document information Description: Recomendaciones. Original Title 18R Did you find this document useful? Is this content inappropriate? Report this Document. Description: Recomendaciones. Flag for inappropriate content. Download now. Save Save 18R For Later. Original Title: 18R Related titles. Carousel Previous Carousel Next. Jump to Page. Search inside document.

In addition to this and other Recommended Practices, here are just a sample of the products and services that AACE has to oer you: Recommended Practice Total Cost Management is a systematic approach to managing cost throughout the life cycle of any enterprise, program, facility, project, product or service.

Recommended Practice Discussion Forums: The discussion forums encourage the exchange of thoughts and ideas, through posting questions and discussing topics. This addendum supplements the generic recommended practice by providing: a section that further defines classification concepts as they apply to the process industries; and a chart that maps the extent and maturity of estimate input information project definition deliverables against the class of estimate.

In addition to the degree of project definition, estimate accuracy is also driven by other systemic risks such as: Level of non-familiar technology in the project. Documents Similar To 18R Manoj Singh. Anonymous 19hUyem. Sharanya Iyer. Ronald Cario Seguin. A basis document commonly includes, but is not limited to, a description of the scope included, methodologies used, references and defining deliverables used, assumptions and exclusions made, clarifications, adjustments, and some indication of the level of uncertainty.

The BOE is, in some ways, just as important as the estimate since it documents the scope and assumptions; and provides a level of confidence to the estimate.

The estimate is incomplete without a well-documented basis of estimate. An additional step in documenting the maturity level of project definition is to develop a project definition rating system. This is another tool for measuring the completeness of project scope definition.

Such a system typically provides a checklist of scope definition elements and a scoring rubric to measure maturity or completeness for each element. A better project definition rating score is typically associated with a better probability of achieving project success.

Such a tool should be used in conjunction with the AACE estimate classification system; it does not replace estimate classification. A key difference is that a project definition rating measures overall maturity across a broad set of project definition elements, but it usually does not ensure completeness of the key project definition deliverables required to meet a specific class of estimate. For example, a good project definition rating may sometimes be achieved by progressing on additional project definition deliverables, but without achieving signoff or completion of a key deliverable.

AACE estimate classification is based on ensuring that key project deliverables have been completed or met the required level of maturity. If a key deliverable that is indicated as needing to be complete for Class 3 as an example has not actually been completed, then the estimate cannot be regarded as Class 3 regardless of the maturity or progress on other project definition elements.

An example of a project definition rating system is the Project Definition Rating Index developed by the Construction Industry Institute. It has developed several indices for specific industries, such as IR [13] for the process industry and IR [14] for the building industry. Similar systems have been developed by the US Department of Energy [15]. Stephenson, H. John R. Stevens, G. Morgantown, WV, Disclaimer: The content provided by the contributors to this recommended practice is their own and does not necessarily reflect that of their employers, unless otherwise stated.

Life Primary Contributor John K. Life Primary Contributor. Plumery, EVP. CEP Robert B. Brown, PE Dorothy J. Burton Robert C.

Arthur Miller Todd W. Whiteside, II PE. Open navigation menu. Close suggestions Search Search. User Settings. Skip carousel. Carousel Previous. Carousel Next. What is Scribd? Explore Ebooks. Bestsellers Editors' Picks All Ebooks. Explore Audiobooks. Bestsellers Editors' Picks All audiobooks. Explore Magazines. Editors' Picks All magazines. Explore Podcasts All podcasts. Difficulty Beginner Intermediate Advanced.

Explore Documents. Uploaded by Sidney Porter. Document Information click to expand document information Original Title 18r Did you find this document useful? Is this content inappropriate? Report this Document. Flag for inappropriate content. Download now. Save Save 18r Original Title: 18r Related titles. Carousel Previous Carousel Next. Jump to Page. How It Works.

Deliverables rating. How to fill out and sign TCM online? Follow our simple actions to get your Aace 18r 97 Pdf well prepared rapidly: Find the web sample in the catalogue. Enter all required information in the required fillable areas. Ensure everything is completed correctly, without any typos or lacking blocks.

Apply your electronic signature to the page. Click Done to save the alterations. Download the document or print out your PDF version.