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Remediation, Restoration, and Decontamination Services
Law suits are filed. Discovery is made, and interrogatories are answered. The parties decide to settle. But, for what amount? And, on what basis? Should the property be simply remediated or decontaminated, or should it be restored to pre-contamination event conditions? And, what are these conditions? The term “Pro Forma Economic Analysis” is defined as the analysis of the scientific, regulatory, financial, and logistical considerations and parameters associated with the environmental restoration of contaminated properties based on certain facts, assumptions, and calculations.
3TM Consulting, LLC prepares varying levels of Pro Forma Economic Analyses and Engineering Cost Estimates for clients using information from both the public domain and commercial contractors in order to establish unit rates and prices for the primary parameters associated with the analysis. The graph below represents a Monte Carlo parametric sensitivity analysis incorporated into project risk to provide insight into financial risks associated with varying total project cash outlays for environmental restoration.
In this case, the economic simulation indicates that there is very low probability that the project cost will be less than $16 million or more than $28 million.
3TM Consulting, LLC has prepared engineering cost estimates for remediation and restoration projects ranging from a few thousand dollars to billions of dollars.