Estimation in Apply
Master thesis
Permanent lenke
http://hdl.handle.net/11250/2627718Utgivelsesdato
2019-07-06Metadata
Vis full innførselSamlinger
- Studentoppgaver (TN-ISØP) [1451]
Sammendrag
One of the most critical variables in an engineering project is cost. In cost estimations this variable is studied, analysed, and optimized in order to predict the expected future cost for a project and to control the project execution. The estimated expected cost determines if a project will go ahead or not. It will set the frames for the design, and it provides the foundation of success. But, a cost estimat is only an estimate and have no value if the assumptions, complexity factors, risk and uncertainties haven’t been assessed properly and documented as this is the basis for the investment’s decisions. Adding the different complexity and risk factors requires a good knowledge of previous similar projects. Even though the cost estimates are predicting the future cost, the history can teach us about previous complexities and risks in order to make better expected estimates.
Apply, have since 1979 delivered engineering-, procurement, installation, commissioning and operations support for modifications and maintenance projects on offshore facilities for oil and gas companies in the Norwegian shelf in the North Sea.
Apply is now expanding and in 2018 new business area were defined; Studies, Large Projects and Technology. The objective is to meet the market requirements for more effective project execution.
Cost estimation in Apply is used as input to project planning and execution and are also providing essential information to the Clients decision gates. Good and accurate estimates are important for the business to avoid overruns. On the other hand, overestimating should also be avoided since this will bind up funds and resources that could have been utilised elsewhere. Cost estimation is also part of the tendering process and pay a large role in the company’s competitiveness.
How can Apply meet the clients demand for better predictability in the estimates and increase the company’s competitiveness considering the ongoing improvement processes and new business area?
Beskrivelse
Master's thesis in Industrial economises
Utgiver
University of Stavanger, NorwaySerie
Masteroppgave/UIS-TN-ISØP/2019;
Med mindre annet er angitt, så er denne innførselen lisensiert som Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal
Beslektede innførsler
Viser innførsler beslektet ved tittel, forfatter og emneord.
-
Estimation of the Free Rotating Hook Load for WOB Estimation
Fernandez Berrocal, Miguel (Master thesis, 2022)Today’s drilling industry emphasizes safety and deeper drilling while reducing drilling costs. Low rate of penetration (ROP) and non-productive time are two main reasons for reduced drilling efficiency. Machine Learning ... -
An Improved Basis for Estimating Riser Leak and Damage Frequencies
Mostafa, Emera Kamal Aldein (Masteroppgave/UIS-TN-ISØP/2019;, Master thesis, 2019-07-03)In the petroleum industry, risers are widely used to transport fluids and gases. Risers are intended to be critical integral components as they are subjected to numerous failure factors, where in case of a leak, a highly ... -
Development of a Decommissioning Cost Estimation Model for Oil and Gas Fields on the Norwegian Continental Shelf
Vikane, Rune; Allen, Peter D (Masteroppgave/UIS-TN-IØRP/2018;, Master thesis, 2018-06)Decommissioning of offshore installations on the Norwegian Continental Shelf (NCS) is not a new industry, but apart from the vast Frigg and Ekofisk I projects, it has seen little activity in the years since the production ...