Historical Cost and Quantity Data
Historical data is at the heart of our quantity surveying and estimating service delivery. Our databases have been developed and gathered in line with the experience of our directors and senior managers on projects over the past 30 years in the oil and gas industry. The data is managed internally by full time personnel to provide industry leading information that adds significant value to our clients when making key decisions on their global projects. The data is continually updated to reflect current market conditions and structured in accordance with our OGCS project benchmarking methodology. This allows check estimates and benchmarking to be produced for clients at any one of 3 levels in our work breakdown structure and can benchmark direct costs, material costs and man-hour norms as well as indirect activities, preliminaries, engineering and project management.
OGCS continually harvest data from a wide range of sources which involves not only the specific projects and contracts we are directly providing services to, but also from our experienced personnel who bring to the company an extensive knowledge base which is unrivalled in the industry. Outside of this we have developed over the years a network of market intelligence, day to day contact with the contracting community and supply chain and active subscriptions to a number of industry sources (IPA, AACE etc). The market downturn since Q4 2014 has seen an enormous shift in pricing within the oil and gas supply chain and this has even further focused us in maintaining accurate and current data.
Lifecycle of Cost™
Lifecycle of Cost TM is OGCS’s standardized methodology, process and software system, which ensures that project cost data is managed and utilized through all phases of a project, to give our clients confidence, consistency and accuracy of final Project Costs. Utilizing past and current performance, productivity and market forces (Indices) as well as industry pricing, ultimately through LOC we are able to assist our clients to manage project cost anticipation, expectation, actual performance and final cost outcomes.
Richard Smith, OGCS Senior VP –Commercial Management:
‘Through an industry that is decades old and one that provides some of the most impressive and complex technical solutions and advancements in the harshest of environments, many companies go through reinvention, regurgitation of errors and repetition of flawed cost modelling, leading to blinkered and often under qualified commercial decisions – LOC will ultimately, through standardized process and structures, analysis of cost, price and performance attributes from multiple projects from multiple Construction product lines, ensure consistency and confidence in budgets and predictability of final costs outcomes.’
Life Cycle of Cost ™ Consists of 4 distinct phases of cost data management:
Benchmark: compares project particulars and to industry benchmarks and metrics and provides our client with credible and comparative data for investment decisions.
Estimating: utilizing ‘templates™’ [historical detail estimates] of similar projects, new estimates can be quickly established. Utilizing more developed engineering as the basis, this will allow gaps to be supplemented while establishing a solid basis for estimating updates.
Project Control Boqsor™: Supplementation of inhouse Cost Control systems that handles the full management of remeasurement Lump Sums including:
Establishment of schedule of rates from ‘SOR Templates™’ with aligned and tested Method of Measurement Preambles.
Import and utilize MTO templates for establishment of Bill of Quantities, should MTO data not be available.
Can handle commercial bidding and pricing by Contractors for quick import/bid portal, to allow quick analysis and validation of bids and award selection.
Management of quantity measurement validation through to establishment Lump Sum. Automated checks and alignment with CAD generated MTO’s for validation.
Process and handle Change/Variation Order and Site Instruction estimating, either in validation of Contractor or in design change decisions in real time.
As-Built Updating: utilizing commercial lessons learned as well as final cost allocations and claim settlement to make sense of original contract cost to final cost to be utilized and recycled for project benchmarking and estimating templates ™.