services

Process Assessment and Organizational Development Support (Re: Rate B)

This usually involves a 1-2 week onsite review of your department’s functionality including document reviews, staff interviews and workshops. A gap analysis relative to industry best practices (e.g., TCM Framework, AACE RPs, CII, etc.) is conducted and a report is prepared including recommendations and a prioritized Action Plan to address gaps. This may involve: Process Assessment Assessment: evaluate the state and performance of your estimating, risk and related processes and their alignment with your business objectives and project system. Planning for Process Improvement: Develop strategies and plan activities and resources. Reengineering/Process Mapping Workshops: Implement planned process improvements. Procedures: Support owner in developing procedures in alignment with process. Organizational Development and Training Assessment: evaluate the state of your organization, the skills and knowledge of the staff, and organizational alignment with objectives, processes, methods and tools. Planning for Organization Improvement: Establish strategies and plan activities and resources. Model Development: Develop competency/capability development models and career paths. Training: Implement improvement actions through customized training and workshops. Coaching: provide managers and leads with support and advise as needed. Check-ups and Interventions For work or projects-in-progress, check how process and organization are functioning, investigate deviations from expectations and recommend corrective actions. Note that these are not overall, general project system reviews or benchmarkings, but working level assessments by a recognized expert in these fields; the resultant Action Plans are specific and practical.

Methods and Tools Development, Implementation & Training (Re: Rate B)

Note: this is for “niche” methods and tools that meet needs for which commercial 3rd party systems are unavailable or inappropriate. The service usually involves a needs assessment followed by development of a specific proposal for custom tool development and implementation. The consultant has successfully implemented tools for the following: Estimating Methods and Tools (e.g., owner Class 5 and 4 cost models) Project Historical Databases for cost, schedule and risk information and metrics Estimate Validation Methods, Tools and Metrics (i.e., application of historical data) Risk Analysis and Quantification Methods and Tools: see Products VE’s goal is to leave each client self-sufficient in terms of owning and competently applying the methods and tools (to NOT be dependent on ongoing consulting support).

Estimate Review & Validation and Risk Analysis & Contingency Estimation (re: Rate A)

These are the company’s namesake services. See the book “ Project Risk Quantification ” that covers these services. Estimate   Reviews   (at   gate) : This is combined qualitative and quantitative review (validation) of an Engineer’s or EPC’s Class 4 or 3 (Pre- feasibility or Feasability) estimate on behalf of the owner. The goal is to determine if the estimate meets owner requirements and provides a suitable basis for decision making, funding and control. Recommendations for improvements are provided as appropriate. Estimate    Reviews    (during    phase): Gate reviews are often frustrating and ineffectual because there is inadequate time to fix difficiencies before the Board meeting. The estimate preparation process should instead be reviewed step-by-step, including at kick-off, at completion of key intermediate deliverables, and then prior to the gate. This results in a “no-surprise” final review and greater quality and confidence. Risk   Analysis   and   Contingency   Estimation : VE’s experience with estimate reviews is that contingency estimates are often inadequate and neither the owner or contractor are equipped to do them properly (i.e., in an empirically validated way.) Therefore, the consultant has expertise to facilitate cost and schedule risk analysis workshops and to quantify the contingency using best practices (see Products) . This may be part of an estimate review or a stand-alone effort.

Expert Task Support or Advise (Rate A or B depending on scope of service)

Often a client is in need of expert support to conduct all or part of particular analysis, evaluation or other task (in addition to estimate reviews and risk analyses, etc). These may include, but are not limited to: Investment Analysis (e.g., life cycle cost modeling) Investment Decision Support (e.g., decision modeling) Project Cost Estimate Preparation (e.g., conceptual level check estimate) Escalation Estimating Negotiation and Claims Support Historical Data Capture/Cleaning/Normalization Be Part of an Independent Project Review Team (focused on estimating, project control and risk management aspects) and more...
Methods and Tools Methods and Tools Process Assessment Process Assessment Estimate Reviews & Risk Analysis Estimate Reviews & Risk Analysis Other Tasks Other Tasks
© Validation Estimating LLC
Training Training RATES RATES

Typical Billing Rates (subject to change, may vary depending on specific scope of services)

A. Expert Advisory/Witness: Expert witness or expert/managerial advisory or coaching services, generally of limited duration and scope. Base Rate: US $250/hour plus expenses and travel time at half rate up to 8 hours each way. B. Project and Program Analyses: Mission-critical, time-is-of-the-essence services of significant scope. Primarily independent project estimate reviews and validation, risk analyses and contingency estimate development, and similar (the types of work for which errors-and-omissions insurance is appropriate). Base Rate: US $200/hour (or senior technical engineer or team lead equivalent on established third party rate schedules) plus expenses and travel time at half rate up to 8 hours each way. C. Process and Tools Improvement: Assignments are not time critical and the scope is important but investment is sometimes difficult to justify. Primarily long term organizational continuous improvement efforts such as process and procedure review and development, estimating and risk analyses tools development and implementation, and similar. This also includes bespoke training for these elements or training outside the AACE International community via third parties. Base Rate: US $100/hour plus expenses and travel time at half rate up to 8 hours each way D. Pay-It-Forward: Helping groups and organizations improve their Cost Engineering skills and knowledge. Primarily full day or more training, workshops and seminars on general Cost Engineering topics within the AACE International community. Base Rate: Expense reimbursement plus nominal honorarium where appropriate E. Mentorship: Helping motivated young and/or developing professionals achieve their full potential. Primarily general technical advice, draft paper reviews, and informal coaching. My experience is that each work assignment, workshop or presentation introduces me to at least one person seeking professional guidance in some respect; I encourage them to contact me with their questions at any time. This is an extension of my 25+ year history of volunteering via AACE International. Base Rate: Patience
© Validation Estimating LLC

services

Process Assessment and

Organizational Development Support

(Re: Rate B)

This usually involves a 1-2 week onsite review of your department’s functionality including document reviews, staff interviews and workshops. A gap analysis relative to industry best practices (e.g., TCM Framework, AACE RPs, CII, etc.) is conducted and a report is prepared including recommendations and a prioritized Action Plan to address gaps. This may involve: Process Assessment Assessment: evaluate the state and performance of your estimating, risk and related processes and their alignment with your business objectives and project system. Planning for Process Improvement: Develop strategies and plan activities and resources. Reengineering/Process Mapping Workshops: Implement planned process improvements. Procedures: Support owner in developing procedures in alignment with process. Organizational Development and Training Assessment: evaluate the state of your organization, the skills and knowledge of the staff, and organizational alignment with objectives, processes, methods and tools. Planning for Organization Improvement: Establish strategies and plan activities and resources. Model Development: Develop competency/capability development models and career paths. Training: Implement improvement actions through customized training and workshops. Coaching: provide managers and leads with support and advise as needed. Check-ups and Interventions For work or projects-in-progress, check how process and organization are functioning, investigate deviations from expectations and recommend corrective actions. Note that these are not overall, general project system reviews or benchmarkings, but working level assessments by a recognized expert in these fields; the resultant Action Plans are specific and practical.

Methods and Tools Development,

Implementation & Training (Re: Rate

B)

Note: this is for “niche” methods and tools that meet needs for which commercial 3rd party systems are unavailable or inappropriate. The service usually involves a needs assessment followed by development of a specific proposal for custom tool development and implementation. The consultant has successfully implemented tools for the following: Estimating Methods and Tools (e.g., owner Class 5 and 4 cost models) Project Historical Databases for cost, schedule and risk information and metrics Estimate Validation Methods, Tools and Metrics (i.e., application of historical data) Risk Analysis and Quantification Methods and Tools: see Products VE’s goal is to leave each client self-sufficient in terms of owning and competently applying the methods and tools (to NOT be dependent on ongoing consulting support).

Estimate Review & Validation and

Risk Analysis & Contingency

Estimation (re: Rate A)

These are the company’s namesake services. See the book Project Risk Quantification ” that covers these services. Estimate   Reviews   (at   gate) : This is combined qualitative and quantitative review (validation) of an Engineer’s or EPC’s Class 4 or 3 (Pre-feasibility or Feasability) estimate on behalf of the owner. The goal is to determine if the estimate meets owner requirements and provides a suitable basis for decision making, funding and control. Recommendations for improvements are provided as appropriate. Estimate    Reviews    (during    phase): Gate reviews are often frustrating and ineffectual because there is inadequate time to fix difficiencies before the Board meeting. The estimate preparation process should instead be reviewed step-by-step, including at kick-off, at completion of key intermediate deliverables, and then prior to the gate. This results in a “no- surprise” final review and greater quality and confidence. Risk   Analysis   and   Contingency   Estimation : VE’s experience with estimate reviews is that contingency estimates are often inadequate and neither the owner or contractor are equipped to do them properly (i.e., in an empirically validated way.) Therefore, the consultant has expertise to facilitate cost and schedule risk analysis workshops and to quantify the contingency using best practices (see Products) . This may be part of an estimate review or a stand-alone effort.

Expert Task Support or Advise (Rate A

or B depending on scope of service)

Often a client is in need of expert support to conduct all or part of particular analysis, evaluation or other task (in addition to estimate reviews and risk analyses, etc). These may include, but are not limited to: Investment Analysis (e.g., life cycle cost modeling) Investment Decision Support (e.g., decision modeling) Project Cost Estimate Preparation (e.g., conceptual level check estimate) Escalation Estimating Negotiation and Claims Support Historical Data Capture/Cleaning/Normalization Be Part of an Independent Project Review Team (focused on estimating, project control and risk management aspects) and more...