Resolute Engineering has developed a proprietary software that is designed to simplify and assist you in the planning process of a pipeline project. Using the Pipeline Estimate Tool, in 30 minutes, we can produce an all discipline/material, total installed cost estimate, that includes cost burn over time, and a project schedule. Furthermore, this Tool produces the same estimate, cost burn, and schedule categories for each individual discipline or material. This allows for clear identification of what is and what is not included in the estimate, using industry standard techniques that each discipline can understand and evaluate.
Having these cost and schedule breakdowns available for each discipline during preliminary meetings helps eliminate confusion and also helps establish transparent expectations for the entire project. Planning is everything! And most significantly, at this stage of the game, if there are changes or other alternatives that need to be considered or made in the particulars of the project or within a specific discipline -- pipe diameter, quantity of spreads, operating pressure and dozens of other types of changes -- these changes can easily be addressed across the entire project with keystrokes. You can have many options and comparisons evaluated during a planning meeting to quickly identify the ultimate project definition.
Our software relies on information supplied by pipeline industry experts and vendors who have shared their project experience and estimating metrics to generate the data that drives this tool. From survey to engineering, and material costs to construction, we have worked hard to provide solid, experience-based, real-life data that the Pipeline Estimate Tool uses to make its calculations and set up its interdisciplinary schedules and cost breakdowns for the entire project and for each individual discipline. This data is continually being evaluated and updated.
What's more, not only does this tool evaluate and present anticipated cost and schedule information of project vendors, but with minimal input from you, we also analyze your internal costs across the project and in various disciplines and make those numbers a part of our reports and the important decision-making process.
Operating companies typically spend months of work developing project estimates, schedules, and reports like the information we have described here. This has always meant a substantial financial and time commitment from the client to gather adequate information to review the different options being considered.
With the Pipeline Estimate Tool, we can give you solid numbers that provide important insight into the projected costs, materials, and schedules at your fingertips, with as many options as you would like to consider -- especially at the pre-feasibility phase.
Another tool that adds to Resolute's ability to present in-depth, highly accurate cost analysis is Monte Carlo Simulations which uses statistical analysis to interpret data generated by the Pipeline Estimate Tool. Since pipelines are by nature quite costly, it is imperative that clients understand the best and worst-case cost scenarios. By using the Pipeline Estimate Tool, we can easily find that high and low number for the entire project and also across several project categories. This data is plugged into the Monte Carlo Simulation, which uses thousands of iterations of that data to provide the user with cost probabilities high and low across a spectrum.
The two technologies tie together very well and offer decision makers real information as to the risk associated with the project -- what is the worst case scenario and what might that cost? How well might they do in the best case scenario? And what's the probability of either of those situations happening?
CLICK HERE to view a PDF demonstration of what you can expect to receive from the Pipeline Estimate Tool, or click on the image in the menu to the right to view this demonstration.