Course description
The decision to proceed with a project is often based almost exclusively on early conceptual cost estimates. These estimates provide the basis for the cash flow projections and budget forecasts used during the project feasibility study. Unreliable cost estimates can result in significant cost overruns later in the project when it is too late to contain them.
Project Cost Estimating, Budgeting & Value Engineering Skills training coursewill provide the delegates with the necessary skills for accurately estimating the total cost of their proposed projects, eliminating unnecessary costs, linking cost estimates to selected procurement methods, and enhancing the overall value of project delivery.
This10 days course offers a series of estimating techniques and processes to forecast the anticipated costs of projects with a focus on budget estimates accurately, estimates for pre-construction services, estimating contractor and sub-contractor work, estimating general conditions, pricing self-performed work, estimating negotiated contracts and performing lump-sum and unit-price estimates
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
This course is suitable for a wide range of professionals but will greatly benefit:
- Anyone involved in project initiation, engineering design, and critical assessment of projects
- All those responsible for making significant decisions concerning plans and budgets for large and complex projects
- Project or Program Sponsors, Project Managers, Cost Estimators, Cost Controllers, Engineers, Designers, and Project Staff
- All those aspiring to deliver better value in all sectors of the economy from major projects in construction, manufacturing, petrochemical, healthcare, education, legal and public services
Outcome / Qualification etc.
At the end of the Course Objectives of Project Cost Estimating, Budgeting & Value Engineering Skills training course you will:
- Gain knowledge of techniques used in project estimating, from the conceptual stage to the final detailed estimate
- Understand the different types of estimates used to estimate project costs accurately and progressively
- Understand the different types of contracts based on the distribution of risk between contracting parties
- Understand the fundamental concepts of Value Engineering and Analysis
- Demonstrate proficiency in applying life-cycle costing principles
- Objectively present a convincing case in support of certain project alternatives
Training Course Content
Day 1
Cost Estimating Basics
- Basic Project Management definitions
- Cost Selection Methods
- Typical project terminology & setting up for success
- Project cost management, Cost Control
- Resource & Cost Allocation
- Understanding project management inputs to cost estimation
Day 2
Pricing, Contracts, and Risk
Day 3
Developing the Project Budget & Cost Control
Day 4
Approximate & Detailed Estimating Methods
Day 5
Advanced Estimating Methods
Day 6
Framework for Applying Value Engineering in Projects
Day 7
The Function Analysis Phase - Expressing Project Functional Needs and Constraints
Day 8
The Creative Phase - Inspiring Creativity in Your Project Team
Day 9
The Evaluation Phase - Making Informed Project Decisions
Day 10
The Planning and Reporting Phases -Getting Results through Effective Communication
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...