TRAINING.

Overview

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
This course is for professionals who play a pivotal role in estimating and budget preparation, such as engineers, technical staff, project managers, construction managers, and estimators. If you're responsible for the financial success of projects and seek to sharpen your skills in cost estimation and budget management, this course will provide you with the essential tools and insights. Whether you're looking to refine your techniques or stay ahead in a competitive industry, this course is tailored to meet your needs, helping you excel in your role and contribute more effectively to your projects' financial outcomes.

Please note: You can check other time zones here.

Syllabus

Day1

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

• Introduction & Generalities
• Definitions
• Estimator: Role & Responsibilities

• Contractual Process
• Contract types
• Risks vs Contract type
• Risks vs Cost
• Example - Case study

• Bid Process
• Content of a bid package
• Specification vs cost
• General & particular clauses vs cost
• Case study - Example

• Estimation process
• Classes of estimate
• Forms of estimate
• Basis of estimate
• Element of estimate
• Estimate vs Budget
• Budget vs cost control
• Example - Case study

Day 2

• Estimate preparation
• Methods
• Pre-estimate
• Unit rates
• Rate adjustment techniques
• Contingencies
• Indirect costs
• Contractor Overhead & Profit
• Accuracy
• Optimization
• Benchmarking
• Example - Case study

• Budget forecast
• Cost Management
• Project Cost System
• Budget vs Estimate
• Indexation/Inflation
• Example - Case study

• Sources of Cost information
• Commercial database
  
• Homemade database - Example - Case study
• Guide to construction cost sources
  
• Questions and Answers and Feedback to Participants on Achievement of Learning Outcomes

Instructor

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.