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Engineered cost model vs Traditional cost model

Engineered Cost Models vs Traditional Cost Models - What you need to know

Engineered cost models are simply smarter. The applicable material properties are obtained based on the design standard chosen, and also there is a check if the chosen variables are realistically possible. This ensures that the cost models are sound from a design perspective as well.

  • CESK Data release notes 2018

    The quality of your cost estimates depends heavily on your cost data. Having a complete and well-structured dataset makes your life as a cost estimator much easier. CESK data offers you a vast array of information, used by companies worldwide. This year’s CESK release came with numerous updates and additions. 

  • Big Data: Uncovering its transformative potential in Project Controls

      Ever wondered how YouTube or Netflix manages to suggest videos and movies of your preferred style? Using big data! Big data analysis is considered the next big thing if it isn’t a big thing already. A great number of companies are already using it. So, the question is: Can you use big data to improve your project performance? Yes, you can!

  • How to structure Cost Data using Breakdown Structures

      Working as a project controller, you will very likely encounter long lists of commitments, actuals, and other cost data that need to be reported on a frequent basis. To ease the job of structuring the project data, breakdown structures prove to be the answer. They allow otherwise flat data to be viewed from many angles, serving the needs of the various stakeholders in the project, e.g. management, clients, and engineers.

  • How to use the right cost data for your area?

    Is the labour rate of a welder the same in Sweden as it is in Brazil? Probably not, you would say. But how much does it differ? And what does that difference depend on?    Is the labour rate the only thing you should take into account when choosing the right cost data or are there more factors to take into account? You would like to know what drives the differences in cost data when you’re working on a project estimation in a different region. Find out by reading this blog.