Our wealth of experience has shown us how difficult it is for companies to consistently manage project cost databases that are so vital to improving company cost effectiveness. IPA can help your company manage its cost database to fully support internal cost engineering practices and improve your company’s ability to benchmark.
IPA offers a database management package that is structured to be compatible with industry cost engineering practices and that integrates with our Project Evaluation System (PES®) services. Your company identifies projects for the cost data collection (not already captured in a PES evaluation) and completes the appropriate cost forms, and we handle the rest.
We have the capability to provide a customized database tool that would allow clients to query the full range of Cost Engineering Committee (CEC) metrics using their company’s cost data. For example, you may want to compare metrics for a given project against organizational historical averages. This customized database tool would give the cost engineers a simple tool to query their CEC data for comparison with current projects as part of any estimate development or validation.
As part of IPA’s database management package, IPA will also:
* Only Industry Benchmarking Consortium (IBC) CEC companies receive industry comparison metrics in their reports.