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

 

The purpose of the Upstream Cost Engineering Committee (UCEC) is to improve upstream project and business results by providing metrics for better cost engineering. Member company representatives gather once a year to learn about and review new UCEC metrics packages that are prepared by IPA. The upstream metrics packages are used by companies to compare their upstream project cost and schedule outcomes with industry cost and schedule norms and, in general, boost business project estimate assurance and evaluation quality.

The metrics produced by the UCEC can be used for the following:

  • To support conceptual estimates and schedule development
  • To support estimate and schedule reviews
  • To assess company performance against industry norms
  • To support calibration and improvement of company tools and databases

 UCEC participants include IPA client representatives that have a common interest in cost engineering and cost metric development. If the participants do not represent the cost engineering function, they should have a strong commitment to improving that function within their companies.

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

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