How to estimate the cost Oil & Gas Projects Using NoDoC cost models
NoDoC is a cost estimation database that is applicable in the complete life cycle of projects as well as tendering, creating bids, validating estimates and making initial investment decisions and is a comprehensive database consists of cost data, assemblies and cost models estimating CAPEX and OPEX of EPC, EPD and EPCF projects operated in the oil & gas industry. Cost of a project can usually be estimated with acceptable accuracy by using relevant cost data, a well-constructed and documented estimating methodology, and a good understanding of the work content to be performed. This approach involves putting as much detail into understanding the tasks as possible and generating assumptions with whatever shreds of knowledge may be available. Due to the nature of Oil & Gas projects, access to qualified, right and particular cost data has always been a challenge but now NoDoC has a tested and accredited solution for this big challenge.