ROMAN Consulting Group
Independent Estimating
Every capital decision starts with a number, and that number is only as trustworthy as the discipline behind it. At ROMAN, our estimators bring decades of combined front-end experience at major global EPC and engineering firms, work that shaped how we approach every estimate we build. ROMAN Consulting Group provides independent capital cost estimating for front-end (pre-FID) capital projects, giving owners a defensible, unbiased number before major investment decisions are made.
What Is an Independent Project / FID Review?
Independent estimating is the development of a capital cost estimate by a party with no commercial stake in the outcome, using recognized industry methodology rather than internal assumptions or a single contractor's pricing. ROMAN builds estimates in accordance with AACE International Recommended Practices, using Aspen Capital Cost Estimator (ACCE) and current market and vendor data, so the resulting number reflects the project's actual scope and definition maturity, not optimism, internal bias, or the commercial interests of whoever built it. ROMAN is a member company of the Construction Industry Institute (CII) and a sponsor of the Engineering and Construction Contracting (ECC) Association, giving our estimating work the benefit of broader front-end research beyond estimating methodology alone.
Our Approach
Scope and Basis Development — establishing a clear Basis of Estimate (BoE) that documents scope, assumptions, methodology, and exclusions, so the estimate can be understood and defended in context
Classification Alignment — confirming the estimate class (per AACE RP 18R-97) genuinely matches the maturity of project definition, not the purpose of the funding request
Estimate Development — building the estimate using ACCE, current vendor input, and validated market data, rather than relying on software defaults or outdated benchmarks alone
Risk-Informed Ranging — expressing the result as a defensible accuracy range tied to quantified uncertainty, not a single number presented with false precision
Estimates are developed by AACE-credentialed practitioners with direct front-end capital project experience. ROMAN does not advocate for a predetermined outcome; our role is to produce a number the organization can stand behind at the next stage-gate.
Built for Owners Without a Standing Estimating Team
Owners and developers who have scaled down or do not maintain a dedicated internal estimating function. Organizations needing estimating capacity for a specific project without carrying permanent staff. Capital committees and boards requiring a number free from contractor or internal commercial pressure.
Case Study
A mid-size owner in the process industry was screening two site alternatives for a new processing unit but had no internal estimating capability to support the decision. ROMAN developed independent Class 4 estimates for both alternatives using ACCE, validated against current vendor pricing. The documented Basis of Estimate gave the capital committee a clear, apples-to-apples comparison, something neither site's preliminary engineering team could have produced without introducing its own bias toward the alternative it had already invested time in. The committee selected a site with confidence, backed by a number built independently of either internal team.
Frequently Asked Questions
Q. What is independent capital cost estimating?
A. Independent capital cost estimating is the development of a project cost estimate by a party with no commercial or organizational stake in the result, using established industry methodology to produce a defensible, unbiased number for investment decision-making.
Q. Does ROMAN replace our internal estimating team?
A. No. Independent estimating works best alongside internal capability, adding capacity and an unbiased perspective where it's needed, not replacing the team you already have.
Q. What standards and tools does ROMAN use?
A. ROMAN builds estimates using Aspen Capital Cost Estimator (ACCE) in accordance with AACE International Recommended Practices, validated against current vendor and market data rather than software defaults alone. As a CII member company, ROMAN also draws on broader front-end research beyond estimating methodology alone.
