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While estimating the cost of implementing chemical engineering in recycling wastes the different tools
and techniques to be used are as follows:
Horizon planning
1.3 Describe how the costs will be managed during the project.
During the project progress and ongoing phase the project owner must ensure that the estimated
preliminary cost is not exceeding or overrunning. The progress needs to be tracked timely and
respectively controlled. The best ways to track and control and the project cost within preliminary
estimation include proper project planning, professional level communication, Timely and proper
decision making, timely reporting or presenting project status report to the project manager etc. It will
increase the rate of Return on Investment, resource productivity and commercial profit with minimum
sales and outputs. The overall economic stability of the business will also improve with this application.