| Financial analysis: |  |
| Environmental impact analysis: | --- |
| Waste management/P2: | |
| Environmental cost listing/database: | --- |
| Cost estimation: | --- |
| Alternative product/process comparison: | --- |
| Financial analysis: | |
| Environmental impact analysis: | --- |
| Waste management/P2: | |
| Environmental cost listing/database: | --- |
| Cost estimation: | --- |
| Alternative product/process comparison: | --- |
| Cost control | |
| Resource control | --- |
| Estimating control | --- |
| Schedule control | --- |
| Scope control | |
| Risk control | |
System requirements::
RACER was developed with the following objectives:
The RACER WBS is divided into five primary elements: PA/SI, RI/FS, RD, RA, and O&M.
| Raw material acquisition | --- |
| Manufacturing stage | --- |
| Use/reuse/maintenance | --- |
| Recycle/waste management | |
The system is not meant for estimating costs of the entire life-cycle. Theobjective is to estimate remediation costs.
| Conventional | |
| Potentially hidden | |
| Contingent | --- |
| External | --- |
RACER estimates capital and operating and maintenance costs for remedial action treatment technologies. The cost categories that can be specified include equipment costs, material, and labor. It also estimates costs of studies, remedial design, and site-work and utilities. Contingency costs are estimated, but these do not include environmental liability costs. Users could detail additional costs by creating their own estimate (defining WBS levels). However, additional cost categories cannot be created, and any such cost and quantity estimates would have to be developed by users themselves. Lump-sum estimates of these costs can be included.
RACER is a parametric cost estimating system, which requires users to enter a minimal amount of information to generate estimates. The estimates reflect the engineering design of the process in question, rather than relying on historical cost data alone. The required parameters that users need to supply are project specific. The secondary parameters determined by the model, can be overridden by the estimator. RACER will supply default quantities based on similar project case histories and engineering assumptions. The predefined engineering relationships link the primary parameters with detailed engineering quantities. Finally, the quantities are priced using the cost databases. Assembly default values (quantity, unit costs, safety level) can also be changed by users. Cost data for RACER is derived primarily from the Army Corps of Engineers Unit Price Book, which is supplemented from other similar databases. In the last step, RACER provides estimates of Sampling and Analysis, RA professional labor, contractor general conditions, contractor overhead and profit, and Remedial Design. Multiple design options can be estimated to find the most cost effective solution.
RACER contains two study models (RCRA and CERCLA), a remedial design model, two project control models, fifty-five remedial action models, and thirty-six site work/utilities models. RACER cost estimates are location-specific and include contractor general conditions, overhead, profit, and escalation. RACER contains models to estimate low-level radioactive waste cleanup costs, but not for estimating mixed waste cleanups.
| Net present value (NPV) | --- |
| Payback period | --- |
| Internal rate of return (IRR) | --- |
| Benefits cost ratio | --- |
| Other | --- |
RACER version 3.2 will include present worth calculations.
RACER allows users to modify any parameter or quantity within the system, including the default quantities and unit costs. System assumptions can also be analyzed and modified. Based on the information available, RACER can be used t prepare preliminary or final estimates. RACER estimates are more accurate than order-of-magnitude estimates, because they are based on engineering design and current cost data. The RACER cost models were derived using information from previous projects, government laboratories, construction management agencies, vendors, contractors, and engineering analysis. RACER system models use the Interagency Cost Estimating Group (ICEG) Code of Accounts.
RACER has interface options with other software packages, special reporting capabilities. The WBS can also be customized (to a limited extent) by users. Delta Research also provides options for customizing RACER, including adding technology models, expanding current models, adding system features, different model defaults, and links to software. In the next phase, Delta plans to enhance the user-defined model and templates to make the system more flexible, and to add present worth analysis capabilities.
There is an on-line help option that features graphical displays of (most)process designs. System training is offered at the training center in Florida and sometimes, at off-site locations. The class size is preferred to be between5 and 15 individuals. In the commercial version of RACER (ENVEST), limited time program evaluations (15-20 days) are available.
The RACER models and cost databases are limited to estimating conventional and operating and maintenance (hidden) costs. Other hidden, contingent, and less tangible costs are not estimated, but can be entered by users as a percentage of the total costs. Users could include their own estimates of these costs through the user-defined model. However, additional cost categories cannot be created. That is, users cannot have an additional category that details less-tangible or regulatory costs associated with various treatment technologies. RACER does not allow users to make changes in existing cost models (i.e., add their own algorithms).
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