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Process Equipment Cost Estimating By Ratio And Proportion

Randall W. Whitesides, P.E.

Course Outline

This course will provide new methods of estimating for some and refresher information for others. The course material can be used as a reference source for actual future situations. Students of this one-hour online course will be provided with two simple methods to arrive at approximate equipment costs during preliminary estimate preparation.

This course includes a true-false choice quiz at the end.

Learning Objective

At the conclusion of this course, the student will:

Course Introduction

This course provides the student with an understanding of the estimating technique known as "The Rule of Six-tenths" and if required, use of the rule in combination with cost indices. The various types of estimates are discussed as requisite background. Equations are provided to enable the student to escalate or otherwise adjust historical equipment cost data.

Course Content

The course content is in a PDF file (83 KB) Process Equipment Cost Estimating By Ratio And Proportion.

Please click on the above underlined hypertext to view, download or print the document for your study.

Course Summary

While there may be sophisticated software available to generate accurate cost estimates, we should never lose sight of the importance of understanding the basis for costs. Never let computer output cloud simple estimating judgment. It is novel to be armed with simple, quick, easy to understand techniques to arrive at approximate equipment costs.

The Rule of Six-tenths and the use of cost indices are two readily available and easy-to-use ratio and proportion methods to quickly estimate equipment costs.

Once you finish studying the above course content, you need to take a quiz to obtain the PDH credits.

Take a Quiz

DISCLAIMER: The materials contained in the online course are not intended as a representation or warranty on the part of or any other person/organization named herein. The materials are for general information only. They are not a substitute for competent professional advice. Application of this information to a specific project should be reviewed by a registered professional engineer. Anyone making use of the information set forth herein does so at their own risk and assumes any and all resulting liability arising therefrom.