Addressing capital project performance issues through highly focused industry consortia & committees.

 

The Cost Engineering Committee (CEC) is a working subcommittee under the general IBC membership that assists cost engineers by providing metrics and tools that offer an unbiased snapshot of Industry cost and schedule estimates and trends.

The CEC focuses on all aspects of cost (or investment) engineering, including cost estimating, scheduling, and project control practices and metrics, with the goal of expanding the owner cost engineer’s capabilities. The primary vehicle for accomplishing these objectives are the validation metrics, Best Practice research, and practice sharing. The event is structured in a working meeting in which active participation is expected.

The CEC metrics are based on actual data provided by IPA clients and are used by member companies to strengthen their cost and schedule estimating, review, validation, and project control practices.

The committee gathers once a year at the CEC conference to review and discuss a variety of cost engineering topics. Tools and metrics provided to attendees at the annual gathering include:

A number of different process industries, including Petroleum Refining, Commodity Chemicals, Specialty Chemicals, Pharmaceuticals, and Mining, Minerals, and Metals, are representing on the committee as member companies.

Contact Aditya Munshi for additional details, including how to join the CEC.

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