Cost Estimation Flashcards
7 cards from real DPO practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Cost Estimation flashcards as text
A DP project plan shows 20 days of operations. The estimator applies a 15% schedule contingency. What is the total estimated operational duration?
Answer: 23 days
20 days × 1.15 = 23 days total estimated duration including schedule contingency.
How does a vessel's DP class certification directly affect project insurance premiums?
Answer: Insurers assess redundancy level and operational risk, so DP class is one factor among many in premium calculation
Underwriters consider DP class alongside operating environment, scope of work, and loss history; higher redundancy may reduce risk but also indicates higher-risk operations.
In cost-per-meter analysis for a DP pipe-lay project, which variable most directly affects the output metric?
Answer: Lay rate (meters of pipe installed per day) relative to vessel day rate
Cost per meter = total daily spread cost ÷ daily lay rate, so a slow lay rate dramatically increases cost per meter even if the spread cost stays constant.
Which factor most significantly increases thruster power demand and therefore fuel cost during a DP operation in current-dominated environments?
Answer: Vessel hull form presenting a large underwater projected area perpendicular to current flow
Underwater drag on the hull is proportional to projected area; a vessel with a large lateral underwater profile in beam current requires substantially more thrust to maintain position.
What is the purpose of a 'SIMOPS risk premium' in a DP cost estimate?
Answer: To compensate for simultaneous operations that increase collision or incident probability, raising overall project risk cost
Simultaneous operations (SIMOPS) introduce compound hazard scenarios; project estimators add a risk premium to reflect increased probability and severity of incidents.
A demobilization cost estimate should include all of the following EXCEPT:
Answer: Day rates accrued during productive operations at the work site
Productive operational day rates are part of the operations budget, not demobilization; demobilization covers only activities after operations have concluded.
Which document is most critical for validating fuel cost assumptions in a DP project estimate?
Answer: Historical fuel consumption data from comparable previous operations on the same vessel
Historical consumption records from similar operations on the same vessel provide the most reliable basis for fuel budgeting, as they reflect actual thruster usage under real conditions.