Cost Estimating Essentials

This 2-day course teaches you the basics of cost estimation, cost control and planning. You will learn basic terminology and approaches for these three fields and you will learn the way in which these three fields interconnect. After that, the Introduction Course Cost Engineering will focus on estimating.

You will learn more specific approaches to estimating and their related terms. You will also learn what estimates can be used at what stages of your projects. This makes the Introduction Course Cost Engineering a great course for project managers. As this course emphasizes practical experience as well as theoretical knowledge, a number of small cases will be prepared during the course. This helps you familiarize with the knowledge you have just gained and apply it to real world situations. Cost overruns are the last thing project manager need during the volatile economic times when budgets need to be strictly adhered to as much as possible. The first step in successfully managing project costs is to prepare estimates and budgets that can realistically reflect the costs of project execution.

A quality estimate is the first step to keeping the costs of the project within the budget. But any first step needs a follow-up to be successful. A good understanding of the different project phases and the estimating methodologies that can be used for each phase is crucial. This comprehensive and intensive 2 day workshop will equip delegates with the approaches and techniques required to prepare quality estimates and execute cost control and manage the costs of the project, keeping it within the budget.

Key Learning Objectives
• Basic understanding of the definitions of cost estimation, cost control and planning. You will also be able to read cost engineering reports and put it in the perspective of your project.
• Basic knowledge to prepare and evaluate estimates quicker and more accurately. This will immediately have its effect on the control you have on the cost of your project.
• The ability to make your own factor estimates and validate factor estimates prepared by others.
• The knowledge to identify major cost risks of engineering. Together with the estimating methods this means you will be able to estimate the engineering involved in your projects

Contact Details
Email: [email protected]
Website: http://www.opuskinetic.com/details-training-285
Telephone: +65 6294 6415