LOS ANGELES--(BUSINESS WIRE)-- AECOM has released the newest version of its Remedial Action Cost Engineering and Requirements (RACERTM) software -- a widely-used cost estimating software developed for environmental remediation and restoration projects. An industry standard for environmental liability valuation and due diligence, RACER is used by corporations, consultants, government agencies and environmental regulators. AECOM is a global provider of professional technical and management support with a leading economics and environmental remediation and restoration practice.
Adaptable and scalable for any size project or portfolio, RACER’s updated and streamlined interface saves time, reduces costs and provides auditable and defensible budget-level estimates for establishing reserves and provisions; financial reporting; environmental due diligence for mergers and acquisitions / property transactions; and other legal matters.
According to Andrew Schleppi, AECOM Program, Cost, Consultancy Cost Engineer, “RACER contains 110 cost estimating modules for feasibility studies, site work, waste removal, containment, treatment and disposal--capturing waste media including air, soil, water, sediment, free product and building materials.” Updated annually with unit prices, location and escalation factors, RACER remains current with industry practice, and enables users to customize output to address project specific requirements.
Developed by AECOM’s PCC Economics practice, RACER recently developed independent cost estimates for a US portfolio of 2,000 projects at Formerly Used Defense Sites (FUDS), involving hazardous and radioactive wastes, debris removal, and military munitions response activities. With RACER, AECOM’s cost engineers and environmental remediation experts delivered comprehensive cost estimates and detailed documentation to withstand audit scrutiny--saving 8,000 hours over “traditional” cost estimating methodology. RACER also supported a merger between two multinational manufacturers by developing cost estimates for plants in US, Norway, and Sweden. RACER estimates included facility decontamination and demolition for closure allowing the companies to meet their business schedule and complete the merger on time.
AECOM is a global provider of professional technical and management support services to the transportation, facilities, environmental, energy, water and government markets. With 45,000 employees, AECOM blends global reach, local knowledge, innovation and technical excellence in delivering solutions that create, enhance and sustain the world's built, natural and social environments. A Fortune 500 company, AECOM serves clients in 130 countries. www.aecom.com.