Benchmark studies have shown that FEED constitutes roughly 2% of the project cost but properly executed FEED projects can reduce up to 30% of costs during design and execution.
Front-end engineering design is a basic engineering phase conducted after conceptual design or feasibility study.
FEED is also known as Front End Loading or Front End Engineering.The main purpose of FFED or Front End Engineering Design is:
- to define the technical and project-specific requirements for an understanding of clear project scope
- to prepare the project approach and basis of design for the system
- to develop a good project cost estimate for budget authorization
- to reduce the risk of the project
- to estimate the project duration and schedule during the detailed design phase
The time duration for a front-end engineering design project is normally less than 1 year.Overall, the FEED phase is considered an important and critical planning tool.