Course description
Cost engineering is a well-established area of research, training and development at Cranfield University.
It is recognised that improving cost engineering capabilities within industry contributes to the development of affordable products and services. There is growing demand at local, national and international levels to impart cost and affordability engineering knowledge to support organisations that seek high quality cost engineers.
Upcoming start dates
Suitability - Who should attend?
This course is suitable for engineers, buyers and people with a commercial background eager to further their skills and knowledge in cost engineering, particularly in life cycle costing; or graduates currently working in industry keen to extend their qualifications; or individuals with other qualifications who possess considerable relevant experience.
Outcome / Qualification etc.
What you will learn
On successful completion of this module the student will be able to:
- Have an appreciation of ‘cost as a business driver’
- Have knowledge and understanding of cost engineering principles and procedures
- Have an appreciation of cost estimation techniques
- Have knowledge and understanding of lifecycle cost
- Understand how to model cost estimates for assessing the impact of risk
- Understand why and how risk analysis can assist the cost engineer
- Have working knowledge on manual and industry standard software based cost estimating
- Appreciate how cost engineering is practiced within industry.
Training Course Content
Core content
- Cost as a business driver
- Quality of cost estimates
- Parametric costing
- Cost of systems
- Predicting cost of obsolescence resolution
- Risk analysis in cost engineering
- Uncertainty based cost estimating
- Cost Engineering in practice
- Cost Engineering hands-on practice in Cost Studio®.
Course delivery details
Course structure
32 hours in total, including 25 hours of interactive lectures and 4 hours group practice, and 3 hours of hands-on practice using industry standard cost estimation software. This course will delivered online - morning only.
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Cranfield University
Cranfield is a specialist postgraduate university that is a global leader for education and transformational research in technology and management. We have many world-class, large-scale facilities, including our own global research airport, which offers a unique environment for transformational education...