​​​​​May 2022 AACE Meeting

Joint Session with ASPE

Cost Estimating in Hyperinflation Economies

Presenter: Francis Lira Vargas

Date:   May 18th, 2022

Time:   6:45 pm to 7:15 pm – Login, Chat, Networking
            7:15 pm to 8:15 - Program

Cost:  $0 for Program

Virtual Attendance:  Joint on your computer or mobile app

When:  May 16, 2022 at 6:45 pm EST (US and Canada)

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Presentation and Speaker Info

Topic:  Cost Estimating in Hyperinflation Economies

Recording from 2019 AACE International Conference & Expo

Presenter: Francis Lira Vargas

Regardless of a project's complexity or magnitude, predicting its costs requires dealing with many factors such as uncertainties, escalation, and inflation.  In hyperinflationary economies, predicting the cost of a project wit the highest possible accuracy is a particularly difficult task that requires the development of methodologies or procedures.  It is of primary importance that the cost estimate should be traceable, and all its elements should be some ways of dealing with hyperinflation in the context of cost estimation.  The objective is to design a calculation procedure to enhance the accuracy of cost estimates by including the impact of hyperinflation.  This impact would be added to the costs obtained with the traditional method for materials, construction equipment, labor, and indirect costs.  This proposed methodology is oriented to projects with a high level of definition or in the execution phase.



Francis Lira Vargas

Civil Engineer - 1997 Polytechnic Santiago Marino - Venezuela

1994-2015 - Cost Estimator, Schedule and Project Manager in Construction, Oil & Gas sectors in Venezuela.

2015 - Moved to France and is working as a Senior Cost Estimator and Project Engineer since 2017.​

AACE Great Lakes Section