Engineering Cost Estimate to Decontaminate Houses Contaminated with DDT

3TM Consulting was retained to prepare an engineering cost estimate to decontaminate and restore a group of residences that had become contaminated with DDT as a result of releases from a nearby source.

In performing our Engineering Cost Estimate, 3TM Consulting used assessment methods that are consistent with industry practice for preparing engineering cost estimates, particularly the American Society of Cost Engineers.

Rather than simply adding a fixed contingency to the estimated cost of the project, 3TM Consulting used Monte Carlo Risk Analysis to provide insight into financial risk associated with varying total project cash outlays (i.e., project funding levels). This financial statistical program uses the input for the estimated minimum and maximum costs, or cost ranges for each of the subtasks that are anticipated for a project in order to calculate (among other things) the probability of a project cost overrun for a defined level of total project cash outlay.