Cost engineering. Cost management
Cost engineering is a process of Total Cost Management (TCM).
The goal of the Cost Engineering service provided by IRBIS is to ensure optimum cost indicators of investment and construction projects at all stages of their life cycle, from an intention to the commissioning.
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Our Company achieves this goal by providing the following set of services
- Building of financial models depending on different project development scenarios.
- Development of project versions at the stage of front-end engineering design, process versions and models and their consolidated cost analysis.
- Design management intended to maintain and optimize the project cost model.
- Estimates and financial estimates based on various construction cost determination methods with necessary precision.
- Analytical market research, selection of a pool of possible contractors and/or suppliers.
- Conducting tenders to select optimal contractors, suppliers, providers and other project participants using a unique analysis method implemented in the patented software product IRBIS-EXPERT.
- Support of the facility construction and equipment process designed to maintain and optimize the project cost model, including control according to the following parameters:• Efficiency and intended use of funds; • Control and technical supervision over the quality and scope of construction and installation. • Compliance of the construction progress with set deadlines. • Monitoring of risks arising during the construction.
The Constitution of the Association for the Advancement of Cost Engineering (AACE) contains the following definition of Total Cost Management:
“Total Cost Management is the effective application of professional and technical expertise to plan and control resources, costs, profitability and risks. Simply stated, it is a systematic approach to managing cost throughout the life cycle of any enterprise, program, project, product, or service”.
Competitive advantages of IRBIS
The Company’s existing quality management system complies with international standard ISO 9001:2008 and is certified by one of the leading international certification agencies TÜV SÜD; it ensures high quality of services we provide.
IRBIS is a member of Non-Profit Partnership National Association of Process and Price Auditors and the Association for the Advancement of Cost Engineering (AACE).
The Company has many years of experience in construction cost management in Russia and abroad.
IRBIS is recognized by largest financial organizations in Russia (VEB, Sberbank, VTB) and abroad (Eurasian Development Bank, Raiffeisenbank, Swedbank).
We have qualified staff with necessary certificates and accreditations.
We use a unique software development, IRBIS-EXPERT. This tool enables us to conduct a mathematical analysis of proposals according to an unlimited number of criteria with account of ranking and their importance to the Customer.
IRBIS can both ensure total cost management during the implementation of an investment and construction project and apply separate elements of cost engineering on Customer’s request (services designed to organize and hold tenders, check estimates, etc.).