Economics and Innovative Technologies


The author gave the main provisions specified in the AACE standard No. 18R-97, and highlighted the issue of the valuation class in relation to the attributes identified (such as the level of development of the project, the valuation methodology, and the expected range of accuracy for each valuation class). The main subsections of cost items are given, from which a standard estimate is formed and an estimate of capital costs is made. The author has mentioned the main methods of calculating valuation, such as top-down and bottom-up, and describes the situations in which they are applied. In the article, the author paid special attention to the importance of monitoring the execution of the investment project budget, which is one of the main functions of the project manager.


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