Parametric models for conceptual cost estimation of industrial tanks and piping: a case study for Brazil

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Abstract:

Equipment cost estimation using parametric equations is a useful tool for engineer’s decision making throughout the process project. Cost models currently available in literature are mainly based on United States’ costs and do not represent Brazilian suppliers’ prices. This work uses historical data of purchase prices paid by a Brazilian price chemical company to reevaluate the parameters proposed by Towler and Sinnott (2008) for piping cost estimation. Two groups of parameters were generated on Minitab: one for carbon steel and one for stainless steel. The margin of error was measured by the Mean Absolute Percentage Error (MAPE), which maximum target value is 40%, corresponding to FEL 1 phase of project.


CORONA, Natalia Baretta; MACHADO, Eduardo Luiz. Modelos paramétricos para estimativa de custos de tubulação no Brasil. Revista IPT, Tecnologia e Inovação, v.6, n.21, p.75-97, dez., 2022.

Access to the article on the Journal’s website:
http://revista.ipt.br/index.php/revistaIPT/article/view/149/203

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