ASPENTECH COST ESTIMATING SOFTWARE OVERVIEW
Many of the world's petroleum and chemical companies use AspenTech's aspenOpen suite of cost estimating, construction design, operations and supply chain management software and services to help them reduce costs and achieve regulatory compliance. AspenTech offers 16 families of products and more than 200 individual tools in all.
The Economic Evaluation Family provides model- and operations-based cost estimating tools for facility design, facility operation and supply chain management. Products in this family include the following:
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AspenTech Icarus Process Evaluator is intended for use in the conceptual design phase, allowing modelers to run the costs associated with 30 or more design options. |
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Aspen Capital Cost Estimator was formerly known as KBase; it is used for the front-end engineering design (FEED) phase, can output schedules and can be integrated with Primavera Project Planner. The ability to conduct trending estimates lets project managers keep an eye on costs during basic engineering tasks, while model and analysis tools will help firms develop strategies for executing projects that involve numerous subcontractors. In addition, Aspen Capital Cost Estimator lets project managers track cost estimate and construction schedule changes based on criteria such as design standards, construction technique, shift and work week length and the use of remote fabrication shops; this, according to AspenTech, improves the management of change orders. |
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Aspen InPlant Cost Estimator, is used for estimating "small" operations costs, such as new construction within existing plants, of less than $10 million, according to the vendor. |
Each product in the Economic Evaluation Family runs on AspenTech's Icarus cost engine, which includes volumetric models that perform calculations and deploy sets of cost indices that are updated yearly.
A second of product family, Basic Engineering, includes the aforementioned Aspen Capital Cost Estimator as well as Aspen Basic Engineering, formerly known as Zyqad. This product provides an integrated environment for the initial FEED phases of a project; its output is equipment data sheets, which can be used in fabrication and construction and help minimize the impact of engineering change orders, the vendor said.
