TRAINING.

Estimate and Budget Forecasting for Construction Projects

Online /
Apr 2 - 3, 2025 /
Course Code: 15-0401-ONL25

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  • Overview
  • Syllabus
  • Instructor

Overview

Please note, This instructor-led course has specific dates and times:
This course is held online over 2 days on the following schedule (All times in Eastern Time Zone):

10 am to 6 pm Eastern (Will include the usual breaks)

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

  • Apply the essentials of project estimation to ensure accurate timelines, resource allocation, and budget forecasting for a successful project
  • Develop expertise in preparing diverse classes of estimates to optimize budget accuracy and enhance project planning management
  • Enhance project transparency and precision by elaborating the Basis of Estimate (BOE) to detail the underlying assumptions and methodologies
  • Implement project cost control strategies to optimize spending and maximize value
  • Strategically prepare a budget to effectively manage financial resources and ensure project success

Description
Construction cost estimating is a comprehensive calculation to determine the total budget needed to complete a project. This phase is as crucial as any other in the construction lifecycle because a well-constructed preconstruction estimate significantly influences the project's success. As important as any other phase, your preconstruction estimate directly affects the goal to achieve a successful project. The total scope of the project must be factored into the estimate, and mistakes can be costly even after construction is complete.

By participating in this course, you will gain the skills to effectively scope project costs, use tools for estimation, and apply strategic thinking to mitigate financial risks. This comprehensive approach not only aims at teaching the basics of cost estimation but also equips you with the knowledge to adapt to varying project demands and maintain budget control throughout the project lifecycle.

This course examines different strategies to achieve an accurate estimate to deliver your project on time and on budget.

Who Should Attend

Those involved with estimating and Budget preparation:
Engineers • Technical staff • Project Managers • Construction Managers • Estimators

More Information

Time: 10:00 AM - 6:00 PM Eastern Time


Please note: You can check other time zones here.

Syllabus

Day1

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

  1. Introduction & Generalities
  2. Definitions
  3. Estimator: Role & Responsibilities
  1. Contractual Process
  2. Contract types
  3. Risks vs Contract type
  4. Risks vs Cost
  5. Example – Case study
  1. Bid Process
  2. Content of a bid package
  3. Specification vs cost
  4. General & particular clauses vs cost
  5. Case study – Example
  1. Estimation process
    1. Classes of estimate
    2. Forms of estimate
    3. Basis of estimate
    4. Element of estimate
    5. Estimate vs Budget
    6. Budget vs cost control
    7. Example – Case study

Day 2

  1. Estimate preparation
    1. Methods
    2. Pre-estimate
    3. Unit rates
    4. Rate adjustments techniques
    5. Contingencies
    6. Indirect costs
    7. Contractor Overhead & Profit
    8. Accuracy
    9. Optimization
    10. Benchmarking
    11. Example – Case study
  1. Budget forecast
    1. Cost Management
    2. Project Cost System
    3. Budget vs Estimate
    4. Indexation/Inflation
    5. Example – Case study
  1. Sources of Cost information
    1. Commercial database

  2. Homemade database - Example – Case study
    1. Guide to construction cost sources

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

Instructor

Johny Kesserwany, ing./ P.Eng.

Johny has 30+ years of experience in project management, design management, administration, and control management in Canada and internationally. He has worked on construction projects in the commercial, residential, healthcare, hotel and leisure, retail, industrial, railway, and infrastructure sectors.

Mr. Kesserwany has expertise in all project phases, including design review and management, tender management, estimating, planning and scheduling, time and resources management, budget analysis, cost control, and document control. He has extensive experience in contract administration (FIDIC, AIA, and government contracts) and a broad knowledge of claims assessment and avoidance.

In addition to teaching construction management, Mr. Kesserwany has previously lectured on project management and Primavera and MS Project software applications.




The Engineering Institute of Canada
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Fee & Credits

$1295 + taxes

  • 1.4 Continuing Education Units (CEUs)
  • 14 Continuing Professional Development Hours (PDHs/CPDs)
  • ECAA Annual Professional Development Points
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