Specialized Training Center | Construction Costs and Estimating

Overview
Registration

Introduction

Cost estimating and analysis requires a knowledge of costing combined with a variety of experiences in alternative analysis, material selection, risk management, contingency planning and contract types.

This Construction Costs and Estimating training course is designed to offer participants the opportunity to enhance their capabilities in cost estimating and analysis as a profession that combines the understanding of theoretical estimating principles with engineering, project management, procurement, and budgeting disciplines.

Goals

Participants will learn:

Key cost estimating and management definitions and concepts.
Various conceptual and detailed cost estimating techniques.
Cost-Risk analysis and defining the required risk reserves.
Cost controlling using earned value management.
Understand costing versus pricing.
Review contract types regarding the price payment.

TRAINING OBJECTIVES

Know the basic concepts of preparing costs estimates, budgets and cost reports.
Learn how to calculate, analyze, and manage costs, and acquire the skill of measuring and calculate costs elements for goods and services.
Recognize the different concepts of preparing estimated costs for projects and tenders (Pricing).
Understand the cost control of the projects using Earned Value Management.
Preparing policies and processes that help in estimating the financial costs of the projects and submitting proposals costs and recommendation.

Training Methodology

The training course will combine presentations with interactive practical case studies, supported by video materials, and group activities. Delegates will be encouraged to participate actively in relating the principles of cost estimating and management to the needs of their projects and organizations.

TRAINING SUMMARY

This Construction Costs and Estimating training course shall provide cost estimating techniques including conceptual and detailed cost estimating techniques, It will also cover the important aspect of Cost-Risk analysis and defining the required risk reserves as well as the Earned value analysis for cost controlling and reporting.

Target Groups

This training course is designed specifically for those professionals who are involved in cost planning, estimating, analysis, budgeting, and controlling such as, but not limited to:

Cost estimators and cost controllers.
Project planners and project controllers.
Project managers and team members.
Procurement leaders and staff.
Finance staff.

Program Content

Day 1 - The Foundation for Project Cost Management

Applications of Cost Estimating.
Types of Cost Estimates: Life Cycle Costs, Budget, Proposal, etc.
Cost Estimating Inputs and Products.
WBS and Cost Element Structure (CES).
Estimate Development and Validation.
Estimate formal and informal reviews.
Day 1 Q and A.

Day 2 - Cost Estimating Techniques and Case Studies

Analogous Estimating Methods.
Parametric Estimating Process.
Parametric Model Development.
Bottom-Up Estimating Methods.
Estimating Labor, Material and Equipment Costs.
Cost Breakdown Structure (CBS).
Inflation and Cost Estimating.
Inflation Indices and Procedures.
Day 2 Q and A.

Day 3 - Cost Control using EVM, Learning Curve and Regression Analysis

Earned value management (EVM).
Cost Variance (CV)and Schedule Variance (SV).
Schedule and Cost Performance Indices (SPI & CPI).
Estimate At Complete (EAC) and Variance At Complete (VAC).
Different Learning Curve Concepts and Theories.
Learning Curve Application.
Regression Analysis.
Day 3 Q and A.

Day 4 - Cost Risk Analysis

Risk Definitions and Risk Process.
Risk Management Planning and Identification.
Risk Analysis and Treatment (Mitigation).
Quantitative Risk Analysis and Sensitivity Analysis.
Simulation and probability.
Present Value of Money and Time Value of Money.
Cost-Benefit Analysis and Breakeven Analysis.
Day 4 Q and A.

Day 5 - Contracts and Pricing

Pricing vs costing.
Pricing strategies.
Profit and Revenue.
Contract Types and Risk Sharing.
Overall Course Review.
Post Course Assessment.
Course Closure.

Code	Date of meeting	Place	Course Price
C4	23 - 27 June 2024	Online training	$3,900	Register
C4	23 - 27 June 2024	Dubai-Emirates	$3,900	Register
C10	4 - 8 August 2024	Online training	$3,900	Register
C10	4 - 8 August 2024	Dubai-Emirates	$3,900	Register
C16	15 - 19 September 2024	Online training	$3,900	Register
C16	15 - 19 September 2024	Dubai-Emirates	$3,900	Register
C22	27 - 31 October 2024	Online training	$3,900	Register
C22	27 - 31 October 2024	Dubai-Emirates	$3,900	Register
C28	8 - 12 December 2024	Online training	$3,900	Register
C28	8 - 12 December 2024	Dubai-Emirates	$3,900	Register

Inquire now

Download brochure

Construction Costs and Estimating

Introduction

Goals

Training Methodology

Target Groups

Program Content

Categories