Cost Capture and Cost Estimation
"datb's understanding of cost capture and cost modelling methodology has been instrumental in supporting our cost estimation process. Our cost estimation requirements were inherently complex, necessitating detailed statistical analysis and data visualisation. In the face of this complexity, datb stepped in and meticulously helped us refine our requirements. Their understanding of the intricacies involved enabled them to deliver precisely what we needed, exactly when we needed it. What stands out most about working with datb is their flexible and professional approach. They demonstrated an unwavering commitment to meeting our needs, adapting promptly to any changes and ensuring seamless collaboration throughout the project. Their dedication and proficiency made the entire process not only smooth but also enjoyable. Their ability to navigate complex requirements with ease and their exceptional professionalism have been crucial to the success of our project. Thank you, datb, for your support and development of our platform."
We built Anglian Water's Cost Estimation module over a decade ago, and in 2024 we rebuilt large parts of it to better meet new requirements and ways of working.
Using data from the Cost Capture module, the system performs statistical analysis to locate correlations between inputs (the attributes of the work undertaken) and outputs (costs within various categories). This enables the derivation of a set of formulae, each with a percentage confidence, that can be used to produce cost estimates for different equipment and work types.
The system enables AW to produce tens of thousands of cost estimates for potential work, greatly improving their ability to select the most cost-effective investment strategy.
Anglian Water's contractors undertake thousands of projects during the five-year regulatory reporting period.
Each project is selected on the basis of its benefit to AW's customers, taking into account cost / benefit, regulatory requirements, growth projections and public health issues.
The Cost Capture suite, developed by datb for Anglian Water, means that AW has a consistent and reliable repository of project outturn costs, categorised by investment type, and equipment types.
The system is provided to AW's contractors via secure external access, enabling them to submit detailed breakdowns of project outturn costs suitable for subsequent analysis by our Cost Estimation tool.
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