Cost Estimating Foundation

Cost Estimating Foundation is a course dedicated to the basics of cost estimation, cost control and planning.

Topics

• Cost Engineering

  • The basic definitions of and ties between cost estimation, cost control and planning
  • Various contract forms
  • The position of estimating in each phase of the project lifecycle
  • Definitions within estimating
  • Value engineering

  Detail Estimating

  • Estimating methods
  • Different approaches to estimating
  • Principles of the quantitative method
  • Buildup of unit rates
  • Direct versus indirect
  • Cases in preparing estimates by using various techniques for different disciplines

  Factor Estimating

  • Different factor estimating methods
  • Advantages and disadvantages of these methods
  • Quantitative estimating method
  • Estimating of equipment

  Estimating of engineering

  • Engineering activities
  • Engineering effort in engineering phases
  • Methods of estimating engineering
  • Detailed approach per discipline

Who should Attend

• Project managers/directors
• Everyone who is part of any team that executes industrial projects
• Project engineers
• Finance project executives/managers
• Project cost engineers
• Cost estimators
• Members of the purchase department
• Discipline leads
• Work preparators
• Members of a tendering team
• All who are involved in technical projects, cost estimation, cost control and planning, and contract review in their organizations.