International standard for cost coding has been revised
Large industrial projects need cost data that can be understood, used and compared across projects, facilities and organisations. The international standard NS-EN ISO 19008 has now been revised and provides requirements for a standard cost coding system for process facilities in oil, gas and low-carbon energy.
Cost data is used in many phases of a facility’s life cycle, from early estimates to operation, cost control and the collection of historical data. When data is coded in the same way, it becomes easier to use the information further.
NS-EN ISO 19008 provides the specifications for a standard cost coding system, often referred to as SCCS.
The system is used to classify cost, quantities and schedule data associated with the development and operation of oil and gas processing facilities, also including lower carbon energy facilities.
The use of NS-EN ISO 19008 enables a consistent coding of data in a life cycle perspective - from estimate preparation to cost control and collecting historical data to facilitate benchmarking, analysis and consistent comparison across projects and assets.
The standard can be used for, among other things:
- preparing cost estimates
- cost control
- classification of quantity and progress data
- collection of historical project data
- comparison of costs between projects and facilities
The standard was developed by working group WG 4 in the international standardization committee ISO/TC 67.
Who can benefit from the standard?
NS-EN ISO 19008 is particularly relevant for operating companies, contractors and suppliers working with the development or operation of process facilities.
For these stakeholders, the standard can provide a common system for structuring cost, quantity and progress data. This makes the information easier to use in planning, follow-up, analyses and experience sharing.
Contact us
Do you have questions about NS-EN ISO 19008 or Standards Norway’s contribution to the revision? Please contact Stian Sjølie at Standards Norway.