Course Catalogue.

After participating in this course, you will be able to:

• Apply project execution and control basics to ensure efficient project delivery.
• Create accurate estimates and comprehensive control budgets.
• Generate insightful cost reports for stakeholders.
• Utilize advanced project scheduling techniques.
• Forecast cash flows and perform life-cycle cost analysis for sustainable projects.

Description
This course is designed for project leaders and technical staff tasked with delivering tangible results through objective cost assessments. In today’s competitive environment, having accurate and reliable cost assessments is crucial for the success of any project. The primary objective of the cost engineering function is to provide early and reliable assessments to facilitate informed decision-making.

Participants will explore essential concepts of cost engineering, including estimating, risk analysis, cost control, scheduling, and change management. The curriculum is structured to achieve the best value for investments and expenditures, offering a blend of theoretical knowledge and practical application. By understanding these core principles, participants will be able to optimize their project strategies and improve overall project performance. Hands-on exercises and real-world examples will reinforce learning and provide practical experience in applying these techniques.

Unlock your potential with this course that emphasizes both the theoretical foundations and practical application of cost engineering principles. With interactive sessions, case studies, and collaborative projects, you will be able to immediately apply what you learn to your own projects. Enhance your skills, boost your career, and become an indispensable asset to your organization by mastering the art and science of cost engineering.

Who Should Attend
This course is ideal for professionals looking to enhance their expertise in cost estimating and controls.

Whether you are an engineer, a member of the technical staff, a project manager, a construction manager, or an estimator, this course will equip you with the essential skills and knowledge to excel in your role. If you are responsible for delivering projects with precision and efficiency, this course will provide you with the tools and methodologies to achieve optimal results.

Elevate your career and become a pivotal asset in your organization by developing your cost engineering skills.

Course Syllabus

Welcome, Introduction, Course Preview, Learning Outcomes and the Assessment Method

Professional Associations and Their Role

• AACEI and CIQS
• Professional qualifications

Project Execution Basics

• Definition and examples of projects
• Phases of a project

Cost Estimating Basics

• Definition
• Basis of estimate
• Types of estimates
• Estimating accuracy
• Estimating methodologies
• Construction labour productivity
• Indirect costs
• Allowances and contingency

Cost Control

• Elements of a good cost control system
• Definitions
• Work breakdown structure
• Responsibilities and key elements
• Forecasting
• Reporting
• Follow up and closeout
• Tools and techniques

Project Schedule

Scheduling Basics

Relationship with Cost

Cash Flow Forecasting

Life Cycle Costing and Value Engineering

• Life cycle costing
• Value engineering
• Exercise

Final Review

• Lessons learned
• Certificates
• Next steps

Questions and Answers and Feedback to Participants on Achievement of Learning Outcomes