Cost engineers are often called upon to provide a definitive Cost Estimate from information that is minimal in the extreme. It is to deal with this situation that this paper puts forward two methods of estimating the costs of instruments for capital projects. They are intended for parametric and comparative estimates (evaluation and pre- design) and in this respect rely upon the experience and judgement of the respective cost engineer. The methods described are based on the well-known conception of the control loop principle, in that the sensing device, transmitter receiver controlling device, recorder, and control valve form the loop of pressure, temperature, flow, and level instrumentation. Each method starts with a derivation for the cost of material to which a factor is applied to obtain the erection or labor cost.

  • Corporate Authors:

    Association of Cost Engineers

    33 Ovington Square, Kensington
    London SW3 1LJ,   England 
  • Authors:
  • Publication Date: 1976

Media Info

  • Pagination: 6 p.
  • Serial:
    • Cost Engineer
    • Volume: 15
    • Publisher: Association of Cost Engineers

Subject/Index Terms

Filing Info

  • Accession Number: 00157143
  • Record Type: Publication
  • Source Agency: British Ship Research Association
  • Files: TRIS
  • Created Date: Aug 4 1977 12:00AM