Engineering Estimates

[PTZ]

Seeking information on "standard practice" or "Best Practice" for ships owners/reps or engineers estimates.
Data comparing pre-contract engineers estimates with awarded contract amount would be very helpful. Any ideas on sources?
PTZ

 

[mbridger]

The only thing I can recall was an article in the Marine Engineers review many years ago which compared many dry docking budgets against cost and came up with some stats. The only one I remember (and it is probably innacurate now) was that the majority are 20% over buddget due mainly to "discovered" work!!!!

 

[mshimko]

I need to ask a question of the first question - are you refering to cost estimates?

If yes, I can say it's a somewhat specialized field. My company once hired a cost estimate specialist, and then developed a small capability which we marketed to various customers, especially the US Coast Guard. For a short period of time they had several unique and very complex projects which we provided independent cost estimates for which allowed the Coast Guard to better negotiate their final contracts for the work. Long term, though, there doesn't seem to be much of a market for this type of work, and our capability and personnel have moved on to other tasks or fields of work.