An assessment of the comparability of dredging cost standards to industry market rates for ....

7-8 November 2019. Ahoy, Rotterdam, the Netherlands

Sheehan C and Holmes L - Anthony D Bates Partnership, United Kingdom

Summary: This research compares market day rates for dredging projects, over the past ten years, with rates calculated and developed using the CIRIA dredging cost standards publication. Deviations are highlighted and recommendations provided to improve dredging cost estimation.

Market rates compared to costs standard estimates
CIRIA cost model used for comparison: Widely used standard cost model for dredgers
150 data points compared
Demonstrating the sensitivity of key cost model inputs
Illustrative examples of sensitivity, and impact to market rate comparison
Potential mitigating factors discussed
Encourage more in-depth discussion when using cost models for greater alignment to market conditions
Beneficial in cases where CIRIA cost standards are used e.g. dispute resolution