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Business & Economics :: Cost Engineering

August 1, 2011

Evaluating Capital Cost Estimation Programs

Five capital-cost-estimation programs are compared using a set of case studies

Ying Feng and Gade P. Rangaiah,  National University of Singapore

Evaluating and comparing the computer programs available for capital cost estimation provides a better understanding of both their use and the methods behind them. The goals of this article are to evaluate available cost estimation programs, apply the programs to case studies of plant design and to analyze the cost estimates for different types of equipment. Five programs are discussed here — CapCost, EconExpert, AspenTech Process Economic Analyzer (AspenPEA), Detailed Factorial Method (DFP) and Capital Cost Estimation

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