Engineering Economics & Cost
Engineering

LMI helps our clients see a complete picture of their project costs for better control.

 

Cost is one of the most influential factors in the outcome of capital facilities infrastructure programs and projects. More specifically, understanding costs and reducing cost growth are critical determinants of whether a project or program succeeds or fails.

LMI’s cost engineering services help government organizations estimate and control the costs of their programs and projects. Our capabilities are uncommon in that we can provide cost engineering services at the early stage—when information is invaluable but scarce. With more than 70 percent of project or program costs committed at the early stage, having a complete and accurate picture of costs up front can make all the difference in making initial resource decisions that influence downstream success. We help our clients see the effects of interdependencies among cost/schedule risk factors and base estimates.

LMI can also improve financial performance at later stages of the program life cycle. For example, a senior review within the National Science Foundation Division of Astronomical Sciences found that observatory operational costs appeared to be high. LMI reviewed the nonscientific (administrative and infrastructure) costs and made recommendations that led to cost savings.

LMI’s engineering economics and cost engineering capabilities include the following:

  • Capital budgeting and decision analysis
  • Infrastructure investment analysis
  • Economic impact analysis
  • Construction cost analysis
  • Engineering cost analysis
  • Construction project cost and schedule risk analysis
  • Project cost and schedule management
  • Public finance plan assessments
  • Strategic planning/options analysis.

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