TITLE

Project Development and Cost Estimating - A Business Perspective

AUTHOR(S)
Good, Gordon K.
PUB. DATE
June 2009
SOURCE
AACE International Transactions;2009, pTCM.01.1
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Sound project development and cost estimating practices, including the appropriate application of AACE International Recommended Practices and principles, are not an end unto themselves. Their primary purpose is to facilitate effective and appropriate business decisions. Business drivers are varied and diverse, and depend on many factors, including industry sector and organizational strategies and goals. It's important to effectively integrate the often complex technical elements of a capital project, including scope, schedule, risk and cost estimates, into reliable and appropriate business decisions, which result in successful projects. The time spent, the costs incurred, and the level of project definition required, depend on the type and impact of those business decisions. This paper discusses key project development principles and processes, identifies common business decision criteria, and describes some of the key business and project drivers that are specific to the pipeline industry.
ACCESSION #
48225972

 

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