Base estimate (TIC)

USD

AACE class

Location factor

Escalation

Contingency (blank = class default)

TIC = base × location × (1+escalation) × (1+contingency).
Accuracy bands (process industries): Class 5 −50/+100%, 4 −30/+50%, 3 −20/+30%, 2 −15/+20%, 1 −10/+15%.
Class set by project-definition maturity; TIC ≈ P50, low ≈ P10, high ≈ P90.
Standards: AACE International 18R-97.

Capital Cost Estimate (AACE 18R-97)

Cost Estimate