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4 improvements that led Enbridge to better cost estimating and benchmarking using Cleopatra

4 improvements that led Enbridge to better cost estimating and benchmarking using Cleopatra

We have always been in contact with the cost engineering team at Enbridge - before and after they decided to implement a dedicated software system for their cost estimating and benchmarking. It has been an inspiring journey that is worth sharing. That’s why we asked Prashant Srivastava, Cost Engineering Manager at Enbridge about his experiences. In our conversation, Prashant mentioned 4 important improvements associated with the implementation of Cleopatra at Enbridge.

  • Project Benchmarking: The Power of Metrics in the Construction Industry

    Apples and pears, both are a part of the category “Fruit”. Can we compare them? The weight of an apple and a pear might be comparable. Still, the nutrients per gram will differ since we are talking about two different types. Therefore, this comparison will not give relevant information about the performance of the apple, neither for the pear. In benchmarking too, it is important to think about which projects and which variables can be compared with each other. 

  • Location factors: The important ingredient in Project Cost Estimation

    Before starting a Cost Estimation for a technical project, it is important to have the knowledge of both the content and the circumstances of the project. One should be aware of the specific details during project execution along with an overview of the required equipment and labour activities. These particular conditions are captured by location factors, which is essential for a reliable cost estimate. 

  • Construction Industry Project Benchmarking: 3 Best Practices

    In the construction industry, there is fierce competition, generally on price. Multiple construction contractors bid for the same project. Based on these bids, the client decides which contractor should do the work. Construction companies want to bid the best to win and get the work. However, the bid should stay realistic and manageable. Otherwise, the contractor will not make a profit by executing the project. 

  • Cost Management Matters: 5 reasons for cost overruns in projects controls

    Proper planning is the key to a successful project, but of course, there are a few problems beyond the realm of planning as it is not always possible to predict what would happen after a project starts. One of the major problems is the cost overrun. Besides the underlying nature of massive and complex projects, poor execution of project management leads to increased costs. A good project management team must be capable of identifying the possible sources of cost overruns early and mitigate their effect.