Cost estimating challenges face frontier projects

As the oil and gas industry explores new regions, the role of cost estimating to support the projects becomes more challenging.Cost estimating for the most part is a specialized field whose end product (the estimate) is sometimes controversial and subject to debate and question.The cost estimator has two primary roles of responsibility in support of clients, first to provide customers with an objective and unbiased opinion of the project cost and second to provide a review and validation of all costs and estimates prepared by third parties to insure completeness and conformance to industry and historical norms.This is not as simple as it sounds. At times it becomes difficult even in regio...

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