ID
× COMMENTARYCOVER STORYIN THE NEWSNEWSFRONTSCHEMENTATOR + Show More BUSINESS NEWSTECHNICAL & PRACTICALFEATURE REPORTFACTS AT YOUR FINGERTIPSTECHNOLOGY PROFILEENGINEERING PRACTICEENVIRONMENTAL MANAGEREQUIPMENT & SERVICESFOCUS
KSBFocus on Pumps
Compact high-pressure pump for plant engineering This company extended its…
NEW PRODUCTS + Show More SHOW PREVIEWS

Archives

Controlling Project Costs

By implementing good control practices, owners can lower project costs by as much as 30%

By John K. Hollmann
Edward W. Merrow
Independent Project Analysis, Inc. |

Atrend needs to be reversed. For the past 20 years, owners in the chemical process industries (CPI) have reduced their cost-engineering function because cost engineering was perceived as “overhead.” This tactic did not improve cost outcomes; it negated other improvement trends. Those who chose this route are now finding that cost-effective projects are just a dream. Merrow and Yarrosi reported in 1994 [1] that the average cost growth (the ratio of actual costs to estimated costs) for projects was declining. That trend has since changed. Since 1994, neither average-cost growth nor variability (the ±…
Chemical Engineering publishes FREE eletters that bring our original content to our readers in an easily accessible email format about once a week.
Subscribe Now
The Future of Project Execution
Digitalization: What does it deliver today… and tomorrow?
Trinseo Digitizes Control System Migration Projects to Achieve Fast ROI
Purdue University Saves $400,000 Annually with Local Vacuum Networks
Bag filter Housings/Vessels

View More

Live chat by BoldChat