UCEC 2025 Addresses Schedule Risk, Project Controls, and More
This year’s annual meeting of the Upstream Cost Engineering Committee (UCEC 2025) will be held on Thursday, June 12, 2025, in downtown Houston, Texas. The annual meeting is an opportunity for cost engineering professionals from our member companies to gather and review the latest UCEC metrics packages prepared by Independent Project Analysis (IPA). Members use the UCEC cost, schedule, and quantity-based metrics and tools for unbiased:
- Conceptual estimating and schedule development
- Estimate validation and review
- Comparisons against industry norms
- Calibration of owner tools
At UCEC 2025, IPA’s cost engineering experts will share the updates and highlights of this year’s metrics program in addition to the research topics listed below:
- Schedule Risk: This study analyzes quantitative schedule risk analyses performed in the E&P industry, typically using probabilistic simulation methods, and their effectiveness given the substantial schedule slip observed in upstream capital projects. Through analysis of recent risk registers and IPA data on risk factors that have historically affected upstream projects, the research provides a realistic picture of the effect of key risk categories, while also recommending the inclusion of systemic risks that are often underrepresented in a traditional risk analysis. The study concludes with recommendations to strengthen schedule risk analysis practices and improve schedule predictability.
- Exploration & Production (E&P) Market Trends Study: The E&P Market Trends Study provides the state of the E&P industry in terms of the overall macroeconomic conditions, supply chain situation, observed escalation, and upcoming trends of note on upstream capital projects. The study will discuss owner perceptions on supply chain and escalation trends from IPA’s first E&P Market Trends Survey.
- Project Controls Excellence: Decades after creating the Project Control Index, IPA is providing an update to better define what makes good project controls so beneficial. This study covers project controls practices across the industry and their effect on project outcomes, focusing on resource utilization, estimate validation, and progress measurement Best Practices. This session will conclude with a presentation of the new Project Control Index and recommendations on how to use this study to strengthen project controls effectiveness.
UCEC 2025 will also feature a member presentation from Shell on how to effectively use the UCEC metrics. In addition, live webinars will be held for key presentations following the meeting for those who cannot attend in person.
The UCEC is a committee of IPA clients that have a common interest in cost engineering and metrics development for oil and gas E&P projects. The committee’s primary focus is the development and analysis of upstream cost metrics. UCEC also provides research into practices and project characteristics that drive better cost and schedule outcomes.
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