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...