Typical Engineering costs
Right now, I am working on a cost analysis of the project portfolio. I need to find out how much should be the engineering costs in the different project phases as a percentage of the total project cost (Total Installed Cost-TIC).
PHASES ENGINEERING COST ( % of TIC)
- Conceptual Design (Front-End Design 1) Range (A-B%)
- Detailed Design (Front-End Design 2) Range (A-B%)
- Procurement Range (A-B%)
- Construction Range (A-B%)
- Closeout Range (A-B%)
The idea is to compare their current engineering costs with standard values used in the market to evaluate the project performance.
Is there anyone who has done something symilar or can give me some reference links of any research about how the typical engineering costs are allocated in the different phases of Oil Refineries projects? Is there a graphic with different kinds of complexity projects that stablishes typical engineering costs?
Thanks so much for any information that you can provide me,
Hi Namida, welcome to the forum.
You might try contacting the NPRA and see if they have any industry statistics (or if they can point you in the right direction).
I'd imagine that most engineering firms keep those metrics for their own projects. You might also try contacting KBR or other large engineering companies and see if they are willing to share some average statistics.
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