APPENDIX

M

ACCURACY OF THE MODIFIED TFCF FOR CONCEPTUAL AND CHECK ESTIMATES
As mentioned in section 19.1 1 the total field cost factor (TFCF) can be modified and adapted to facilities that differ from those in the original study. The modified factor is developed by adjusting each of its cost components (see Table 19.36) to meettherequirementsofspecificcases.Thisapproachcanbeveryusefulfor conceptual estimating as well as for the quick checking of estimates prepared by others. This Appendix illustrates the use of this technique in two actual cases. Since they were the only ones available that justified the modification of the TFCF, the results must be confirmed with more cases. However, the results were so good that I don’thesitate torecommend that all project engineerdmanagers includethe procedure in their “tool box.” I pray that some readers will be interested enoughto dig into their files and check theprocedureagainsttheir completed projects to confirm these results.

Case 1
Small 100% carbon steel plant handling simple non-toxic hydrocarbons with minimal instrumentation and by pressurizing vessels rather that pumping.
- The modified TFCF was $82K rather than $149K (see Table M.l). - The check estimate was 8% higher that the final cost (see Table M.2).

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