The Nexus approach delivers project cost estimates that accurately reflect both the project scope and execution plan, giving clients confidence in their budget and planning decisions.
Overview
A project cost estimate represents a detailed, informed projection of the final project cost based on defined criteria and scope. Developing a high-quality cost estimate—built on industry standards and best practices—is essential for:
- Selecting viable projects
- Supporting capital and expense planning
- Establishing reliable project budgets
- Validating contractor estimates
A major refining industry client partnered with Nexus after experiencing reliability issues caused by equipment damage during a previous installation. The damaged equipment not only threatened operational uptime but also exposed the client to potential environmental compliance risks and emissions violations.
Nexus was engaged to assess existing structures, equipment, and piping, enhance operational reliability, and deliver a comprehensive project cost estimate to guide accurate budget development and decision-making.
Challenge
This project presented significant challenges due to the high-elevation work environment, which introduced complex safety and access considerations. The estimate needed to incorporate numerous indirect costs—including scaffolding, materials handling, and safety measures.
The client required a Total Installed Cost (TIC) estimate that accounted for all these variables to prevent unexpected shutdowns and financial surprises. A precise, data-driven TIC estimate was critical for the client’s leadership team to make informed investment decisions.
Solution
The Nexus team addressed these design and estimating challenges through a collaborative preliminary design review involving every project discipline. This multi-disciplinary review enabled the team to:
- Identify and evaluate potential risks early
- Understand cross-discipline impacts
- Develop a complete picture of the project’s cost drivers
By identifying hidden risks and integrating them into the early cost planning process, Nexus significantly increased estimate accuracy and reduced the likelihood of budget overruns or unexpected deviations during execution.
This proactive, integrated approach exemplifies how Nexus delivers reliable, transparent, and actionable project cost estimates that empower clients to move forward with confidence.
Client Name
Confidential
Location
Midwest USA
Industry
Oil Refining
Services
- Project Controls
- Project Management
- Process Engineering
- Mechanical Engineering
- Piping Engineering
- Structural Engineering
- Electrical & Instrumentation
- Schedule Management
- Class 4 TIC Estimate Development
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