(1) Safeguarding CAPEX / EPC Budgets / Estimate Validation Services & Independent Estimate(s):
Compass International provide early stage Estimating & Schedule Reviews, Cost Validation & CAPEX Cost Saving services that can protect, save & optimize significant CAPEX / EPC project funds, below are (3) significant activities we provide.
(A). Estimate Validation services, we will critique & add value to Pre-FEED / Front End / FEED Studies & Execution Concepts. Our review efforts will uncover any scope errors & overstated costs in the current estimate.
(B). We can optimize the project’s cost by possibly 2% to 5% by recommending different layouts, mapping out different execution approaches & suggesting cost saving concepts.
(C). We can provide periodic reviews & audits during the projects life cycle of the latest Estimated Cost, Change Orders & Claims to ensure your company is receiving fair value & is not being overcharged by the Contractor.
Compass International has a 30+ year track record of Managing & Estimating 100’s of Industrial Facilities, we have worked for both Owners & EPC Contractors & we know only too well how these major EPC / CAPEX projects can get into trouble. Day after day we read of Owner & Operating Groups suffering major CAPEX cost overruns on major construction projects around the world. Make sure your organization does not undergo this situation.
Compass International has in the last decade reviewed & validated over 30 + major Refinery, LNG, Chemical, Power, Off-Shore, Pharmaceutical, Manufacturing & Infrastructure Projects located in (7) countries, we have uncovered scope oversights & estimating errors saving our clients millions of $’s.
We are experts in the Estimating Validation process, we utilize:
- Proven CAPEX Estimating practices, procedures & tools.
- Estimating checklists applicable to Conceptual / FEED / Funding & Detailed Lump Sum estimates.
- Historical benchmarks & cost metrics from 100’s of Industrial / Process / Infrastructure Projects.
For example we examine & investigate:
- The Project Scope Basis (SOW) / Basis of Estimate.
- Project Schedule / Major Milestones / Project – Construction Execution Strategy.
- The Engineering Deliverables / Procurement Plan the estimate is based on.
- The Bulk Material (MTO) take-off methods. / Major Equipment pricing basis.
- We examine how CSA / Equipment Setting, E&I & Insulation was determined.
- We review how the ISBL / OSBL piping quantities, man-hours & unit prices were determined.
- The Wage Rate / Fringe Benefits Build-Up is evaluated & compared to similar projects.
- The Field Productivity Basis is reviewed & critiqued in detail.
- The Field In-Directs basis is investigated in detail & benchmarked against similar projects.
- Escalation, Contingency, Commissioning, Detailed Design & CM cost are benchmarked.
Recent Validation / Independent Estimates:
- North American $200 million Pharmaceutical Facility.
- $350 million Heavy Oil Refinery in South America.
- $220 million manufacturing facility in USA.
- 500 Km Railway located in Africa.
- $1.5 + billion Ethylene & Refinery Facilities in USA.
- $37 million R&D Building in Ohio, USA.
- $70 million Nuclear Waste Treatment Facility located in Asia.
- 250 MW Combined Cycle Power Plant in S.E.USA.
- $1 billion Bauxite Mine / Railroad / Port in West Africa.
- Airports located in Moscow, Russia valued at $700 million.
(2) EPC / CAPEX Project Turnarounds:
Turning around a problem EPC projects is a challenging & difficult task, a task that can only be accomplished by seasoned EPC experts, the review effort includes, visiting the site, evaluating the design deliverables, reviewing the procurement plan, assessing the current estimated project cost & various project EPC status reports, analyzing field productivity & interviewing the key EPC members to understand the projects history in order to map out a new successful path to completion.
Compass International has a great track record of “Turning Around” Problem EPC projects that can benefit you & your organization.
(3) International Market Surveys / Global Construction Cost Studies:
Compass International has completed numerous international cost surveys of construction related costs for number of major US, European & Japanese / Fortune 500 companies. Our studies document current engineering, skilled construction & un-skilled labor costs, engineered equipment costs, bulk material costs, facility costs, inflation rates & projected currency exchange rates.
(4) Value Engineering / Value Improvement Studies:
Your CAPEX / EPC projects need to come in on budget and on time. Compass International has successfully completed more than 40 Value Engineering studies for Oil & Gas, Chemical, Manufacturing, Pharmaceutical and Infrastructure organizations around the world. Compass International has consistently achieved savings ranging from 4.5% to more than 20%.