Weight-Estimation Method of FPSO Topsides Considering the Work Breakdown Structure

2017 ◽  
Vol 140 (1) ◽  
Author(s):  
Ki-Su Kim ◽  
Myung-Il Roh ◽  
Sung-Min Lee ◽  
Han-Sung Kim ◽  
Hyunsik Ahn
Keyword(s):  
Cost Estimation ◽  
Estimation Method ◽  
Field Work ◽  
Economic Downturn ◽  
Complex Structures ◽  
Weight Estimation ◽  
Top Down ◽  
Work Breakdown Structure ◽  
Estimation Process ◽  
The Cost

With the recent international economic downturn, most engineering, procurement, and construction (EPC) contractors are incurring deficits in their floating, production, storage, and offloading unit (FPSO) projects. Numerous reasons underpin these situations. One of the most important reasons is the cost-estimation failure. The cost estimation is the key contractual point and mainly depends on a weight estimation of the FPSO topsides. Because the topsides contain a lot of equipment and complex structures, it is very difficult to make an estimation at the contractual stage. To overcome this problem, many methods have been proposed to estimate the weight of offshore topsides; however, most of the methods involve the top–down approach, making it difficult to obtain a sufficiently accurate prediction for field-work usage in terms of the weight estimation. Therefore, a work breakdown structure (WBS) for the performance of the weight-estimation process is proposed in this study. Using the WBS of the FPSO topsides, the corresponding presentation of the weight-estimation process makes the process usable in the field work regarding the WBS-item estimations. Accordingly, estimates of the detailed units (disciplines, modules, and areas) inside the topside that were previously not possible were performed. In addition, a prototype program was developed using the proposed method, and the applicability of the proposed method was evaluated through the application of three projects.

Keynote

2021 ◽  
Vol 48 (4) ◽  
pp. 3-3
Author(s):  
Ingo Weber
Keyword(s):  
Cost Estimation ◽  
Estimation Method ◽  
Main Topic ◽  
System Throughput ◽  
Distributed Ledger ◽  
Smart Contract ◽  
Distributed Ledger Technology ◽  
Wide Range ◽  
The Cost ◽  
Application Developers

Blockchain is a novel distributed ledger technology. Through its features and smart contract capabilities, a wide range of application areas opened up for blockchain-based innovation [5]. In order to analyse how concrete blockchain systems as well as blockchain applications are used, data must be extracted from these systems. Due to various complexities inherent in blockchain, the question how to interpret such data is non-trivial. Such interpretation should often be shared among parties, e.g., if they collaborate via a blockchain. To this end, we devised an approach codify the interpretation of blockchain data, to extract data from blockchains accordingly, and to output it in suitable formats [1, 2]. This work will be the main topic of the keynote. In addition, application developers and users of blockchain applications may want to estimate the cost of using or operating a blockchain application. In the keynote, I will also discuss our cost estimation method [3, 4]. This method was designed for the Ethereum blockchain platform, where cost also relates to transaction complexity, and therefore also to system throughput.

Application of the life cycle cost estimation method in transport infrastructure managing

2019 ◽  
Vol 126 ◽  
pp. 5-14
Author(s):  
Anna Gobis ◽  
Kazimierz Jamroz ◽  
Łukasz Jeliński
Keyword(s):  
Life Cycle ◽  
Cost Estimation ◽  
Life Cycle Cost ◽  
Estimation Method ◽  
Research Problem ◽  
Transport Infrastructure ◽  
Life Cycle Thinking ◽  
Infrastructure Management ◽  
Practical Tool ◽  
The Cost

The transport infrastructure management should be in line with sustainable development. Actions and activities that combine the environmental, social, and infrastructure expenditures optimally should be undertaken. The article presents a concept of life-cycle thinking that resolves these problems. The life cycle cost estimation method is a practical tool for managing transport infrastructure. The LCC analysis mustn’t generate more work than the benefits of it. Therefore appropriate assumptions should be made in constructing the method. The method assumes basic assumptions, taking into account the extensive scope of the research problem: transport infrastructure. The result of this article is a proposed mathematical model for estimating life-cycle costs. In the end, the practical use of the proposed methodology for determining the cost of the horizontal marking is provided.

scholarly journals Index Cost Estimation Using Case Based Reasoning Model Based on Macro BIM

2018 ◽  
Author(s):  
Krzysztof Zima ◽  
Agnieszka Leśniak
Keyword(s):  
Correlation Coefficient ◽  
Cost Estimation ◽  
Pearson Correlation ◽  
Construction Project ◽  
Information Modeling ◽  
Unit Price ◽  
Case Based Reasoning ◽  
Estimation Process ◽  
The Cost ◽  
Case Based

Information regarding the cost of a construction project is available to the investor and project participants in order to determine the subsequent success of a project, given that the information they collect has an impact on the decisions they make. Cost calculations, especially in the initial phase of a project, often generate large errors. This paper presents the new approach based on a combination of the Case Based Reasoning method (CBR) with the originally selected criteria for the description of a construction project (as a result of Pearson correlation coefficient and Spearman's rank correlation coefficient) and Building Information Modeling (BIM) technology. The CBR method fulfils expectations for a simple and fast system supporting the cost estimation process. It does not require any specialist knowledge, so it will be comprehensible to cost estimation practitioners. The BIM-based model gives the opportunity for the calculation of quantity take-offs and enables the use of the information contained in the BIM model in the cost estimation process. In order to prepare the model an appropriate relational database had to be developed. With extensive research, a database of 173 construction projects, including the construction of a sports field, was obtained. There were 14 variables defined originally by authors; however, only 10 (as a result of the correlation analysis) were used for the calculation. Data related to the project were collected in the BIM model. Results estimating the project’s unit price, using the CBR method, were presented and discussed. The Mean Absolute Estimate Error was used to evaluate the model.

Hybrid Spectral Clustering Algorithm and its Application in Cost Index Estimation

2012 ◽  
Vol 461 ◽  
pp. 695-701
Author(s):  
Bing Chen ◽  
Xue Qin Hu ◽  
Bei Zhan Wang ◽  
Yin Huan Zheng
Keyword(s):  
Cost Estimation ◽  
Spectral Clustering ◽  
Clustering Algorithm ◽  
Estimation Method ◽  
Cost Index ◽  
Actual Case ◽  
Project Cost ◽  
Index Estimation ◽  
The Cost ◽  
Spectral Clustering Algorithm

This paper proposed a new hybrid spectral clustering algorithm in which Mean Impact Value (MIV) was used in the cost dimension reduction. The processing of system implementation is as follows: first, we used BP neural network to determine the principal items materials, and then applied the spectral clustering algorithm to calculate the principal items price according to principal items materials; finally, principal items ratio estimation method has been used to do cost estimation. This paper took the Xiamen project cost station as the actual case and experimental results shown that this algorithm could meet the cost requirements of project cost station both in time efficiency and accuracy through parameters self-adjusting.

A Rough-Cut Cost Estimation in a Finite-Capacity Stochastic Environment Based on Forced Idle Time Prediction

2008 ◽  
Author(s):  
Mark Eklin ◽  
Yohanan Arzi ◽  
Avraham Shtub
Keyword(s):  
Cost Estimation ◽  
Estimation Method ◽  
Idle Time ◽  
Estimation Methods ◽  
Shop Floor ◽  
Limited Capacity ◽  
Time Prediction ◽  
The Cost ◽  
Rough Cut ◽  
Cost Estimation Models

In recent years several researchers suggested cost estimation models that consider the limited capacity of the shop. In these studies, the stochastic nature of the shop floor is modeled by a time-consuming simulation. This paper proposes five alternative rough-cut cost estimation methods that can replace the simulation. Three of five methods based on forced idle time prediction. The study compares the cost estimations derived from these methods. A cost estimation method, based on the forced idle time of the bottleneck workstation, was found to be outperform the others. As the best method, the bottleneck-based method was compared to the actual order’s cost and was found as a replacement to simulation.

Cost of Independent Bicycle and Pedestrian Projects

2017 ◽  
Vol 2644 (1) ◽  
pp. 111-118
Author(s):  
Srinivas S. Pulugurtha ◽  
Venkata R. Duddu ◽  
Synthia Tagar
Keyword(s):  
Cost Estimation ◽  
Estimation Method ◽  
Construction Cost ◽  
Cost Data ◽  
Facility Type ◽  
Cost Categories ◽  
Local Agencies ◽  
The Cost ◽  
Available Information ◽  
State Regional

State, regional, and local agencies need an established cost estimation method to improve the accuracy of programmed project funds. In particular, accurately estimating the cost of independent bicycle and pedestrian facilities helps improve prioritization, decision making, and the efficient allocation of funds for bicycle and pedestrian projects. The cost estimates vary by category as well as by the construction cost element. Obtaining cost data for an adequate number of projects of each facility type, although important, is challenging because of either the lack of available information or a reluctance in the sharing of information. This paper ( a) outlines methods to achieve a statistically significant sampling of cost data for bicycle and pedestrian facilities, ( b) addresses challenges associated with collecting the data from various agencies, and ( c) examines variations to better understand the estimates of individual construction cost elements. Recommendations pertaining to cost categories and cost elements that can help planners and engineers estimate the costs of independent bicycle and pedestrian projects are discussed.

scholarly journals Comparison of the Performance of “Unit Area Cost Method” (UACM) and “Unit Price Method” (UPM) Used in Estimating the Costs of the Reinforced Concrete Multi-Storey Housing Buildings

2021 ◽  
Author(s):  
Latif Onur Uğur ◽  
◽  
Kadir Penbe
Keyword(s):  
Regression Analysis ◽  
Reinforced Concrete ◽  
Error Rate ◽  
Cost Estimation ◽  
Unit Area ◽  
Linear Regression Analysis ◽  
Estimation Method ◽  
Error Rates ◽  
Unit Price ◽  
The Cost

Unit Price Method (UPM) and Unit Area Cost Method (UACM) are widely used in the cost of reinforced concrete multi-storey housing buildings. In this study, it is aimed to determine the cost estimation method with high performance (its use will provide an advantage to the estimator over the other) by comparing the cost estimates in the modeling by making “Regression Analysis” (RA), with the data of such struction. In the literature review, studies of equivalent and different structures were evaluated. In modeling; Number of rooms, floor area, total area, number of floors, floor height, facade area, facade void area, Bathroom/wc areas, balcony areas, building height are parameters. UPM and UACM based costs which were created with the data of 2020 of 41 similar structures (38 for modelling, 3 for tests) were used as independent variables, and cost models were created with linear regression analysis. The results were randomly selected and compared with test groups that were not used in these models, and the error rates and performances of the methods were tested. According to the comparison, in the UACM analysis, there was a high R2 value in 6 data and a low error rate in 8 predictions; In the UPM analysis, it was determined that an equally high R2 value and a low error rate occured in 7 predictions. As a result, UACM reached a better performance in finding the estimated cost; It has been observed that using it in cost estimation gives better results. However, even if UACM performed better, the difference in error rates is very low, at 2.7%.

scholarly journals Decommissioning cost estimation for a multiple reactor site with interdependent plants: case study using a new management tool and top-down approach

2021 ◽  
Vol 8 (3A) ◽  
Author(s):  
Deiglys Borges Monteiro ◽  
João Manoel Lousada Moreira ◽  
José Rubens Maiorino
Keyword(s):  
Cost Estimation ◽  
Nuclear Power ◽  
Power Plants ◽  
Management Tool ◽  
Detailed Knowledge ◽  
Top Down ◽  
Management Tools ◽  
Bottom Up ◽  
Operational Life ◽  
The Cost

In the end of operational life, a nuclear power plant should be decommissioned to release its site for a new purpose. The decommissioning cost estimation is part of the decommissioning plan, which also include the decommissioning strategy definition. The cost estimation is performed by management tools, most of them according the bottom-up approach. However, this approach usually requires large quantities of data and detailed knowledge of the site conditions and the project phases, which are often unknown in the project beginning, requiring the adoption of several assumptions. Otherwise, the top-down approach requires less data or assumptions, and the project details is known as it became mature. Due to this, the top-down approach is a better approach for cost estimation during planning phase than the bottom-up. Despite it, most part of management tools found in literature to cost estimation are structured according the bottom-up approach. To suppress this lack, recently a new management tool was developed according the top-down approach, being able to estimate the decommissioning cost of nuclear power plants for budget/bid purposes. This work aims to present the cost estimation to decommissioning a multiple reactor power site with similar characteristics of the Brazilian ones, which would be used as benchmark. The results demonstrated that the interdependencies among the plants are important and affects significantly the cost to decommissioning each plant. This work is part of a research that is under course in which several strategies alternatives would be evaluated.  

Sign in / Sign up

Export Citation Format

Share Document