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
Last update: 5 September 2019