While it is not necessary to quantify each of these components at the scoping stage, it
is important to provide an overall cost estimate that reflects the total cost of implementation.
In some cases, corporate cost estimating groups are able to provide total installed
cost data or simple correlations for key equipment items that facilitate the development of
acceptable cost estimates. Alternatively, recent data from similar projects at the same site
can sometimes be used as the basis for a “ballpark” estimate for a new project idea from a
PFD review. There are also various software tools and literature sources that can be used
to estimate costs.