/  Project Cost Estimating Skills Training

Project Cost Estimating Skills Training

BMC Training provides a training course in Project Cost Estimating Skills in Project , Procurement and Contracts

Course Title
Venue
Start Date
End Date
  • Istanbul
    26 - 9 - 2021
    30 - 9 - 2021
  • London
    19 - 9 - 2021
    23 - 9 - 2021
  • Madrid
    19 - 9 - 2021
    23 - 9 - 2021
  • Berlin
    19 - 9 - 2021
    23 - 9 - 2021
  • Dubai
    26 - 9 - 2021
    30 - 9 - 2021
  • Paris
    26 - 9 - 2021
    30 - 9 - 2021
  • Dubai
    17 - 10 - 2021
    21 - 10 - 2021
  • Paris
    17 - 10 - 2021
    21 - 10 - 2021
  • Kuala Lumpur
    24 - 10 - 2021
    28 - 10 - 2021
  • Barcelona
    24 - 10 - 2021
    28 - 10 - 2021
  • Zurich
    24 - 10 - 2021
    28 - 10 - 2021
  • Istanbul
    3 - 10 - 2021
    7 - 10 - 2021
  • London
    10 - 10 - 2021
    14 - 10 - 2021
  • Madrid
    10 - 10 - 2021
    14 - 10 - 2021
  • Berlin
    10 - 10 - 2021
    14 - 10 - 2021
  • Dubai
    3 - 10 - 2021
    7 - 10 - 2021
  • Paris
    3 - 10 - 2021
    7 - 10 - 2021
  • Dubai
    10 - 10 - 2021
    14 - 10 - 2021
  • Paris
    10 - 10 - 2021
    14 - 10 - 2021
  • Istanbul
    21 - 11 - 2021
    25 - 11 - 2021
  • Dubai
    7 - 11 - 2021
    11 - 11 - 2021
  • Paris
    7 - 11 - 2021
    11 - 11 - 2021
  • London
    14 - 11 - 2021
    18 - 11 - 2021
  • Madrid
    14 - 11 - 2021
    18 - 11 - 2021
  • Berlin
    14 - 11 - 2021
    18 - 11 - 2021
  • Dubai
    21 - 11 - 2021
    25 - 11 - 2021
  • Paris
    21 - 11 - 2021
    25 - 11 - 2021
  • London
    13 - 12 - 2021
    17 - 12 - 2021
  • Madrid
    13 - 12 - 2021
    17 - 12 - 2021
  • Berlin
    13 - 12 - 2021
    17 - 12 - 2021
  • Dubai
    19 - 12 - 2021
    23 - 12 - 2021
  • Paris
    19 - 12 - 2021
    23 - 12 - 2021
  • Kuala Lumpur
    26 - 12 - 2021
    30 - 12 - 2021
  • Barcelona
    26 - 12 - 2021
    30 - 12 - 2021
  • Zurich
    26 - 12 - 2021
    30 - 12 - 2021
  • Istanbul
    12 - 12 - 2021
    16 - 12 - 2021
  • London
    5 - 12 - 2021
    9 - 12 - 2021
  • Madrid
    5 - 12 - 2021
    9 - 12 - 2021
  • Berlin
    5 - 12 - 2021
    9 - 12 - 2021
  • London
    13 - 12 - 2021
    17 - 12 - 2021
  • Madrid
    13 - 12 - 2021
    17 - 12 - 2021
  • Berlin
    13 - 12 - 2021
    17 - 12 - 2021
  • Dubai
    12 - 12 - 2021
    16 - 12 - 2021
  • Paris
    12 - 12 - 2021
    16 - 12 - 2021
  • Dubai
    5 - 12 - 2021
    9 - 12 - 2021
  • Paris
    5 - 12 - 2021
    9 - 12 - 2021
  • Dubai
    13 - 12 - 2021
    17 - 12 - 2021
  • Paris
    13 - 12 - 2021
    17 - 12 - 2021

Introduction

The estimating techniques covered in this course will provide delegates with the necessary skills to forecast accurately the anticipated costs of projects with a focus on estimates for pre-construction services, estimating sub-contractor work, estimating general conditions, pricing self-performed work, and estimating negotiated contracts.

The development of reliable cost estimates during the design and early conceptual stages of a proposed project is of critical importance since the decision to proceed with a project is often based almost exclusively on early conceptual cost estimates. These estimates also provide the basis for the cash flow projections and forecasts used during the project feasibility study.

Objectives

  • Apply techniques used in Project estimating, from the conceptual stage to the final detailed estimate
  • Understand the different types of contracts based on the distribution of risk between contracting parties
  • Synthesize innovative incentive arrangements to get the best results from the contract
  • Apply proper risk analysis to effectively mitigate risks at minimal costs, and to determine appropriate contingencies for residual risks
  • Prepare lump-sum, unit-price, cost plus, and time-and-materials estimates and contracts

Content

Day One

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 Two

Pricing, Contracts and Risk

  • Project management inputs to cost budgeting
  • Resource Requirements
  • Direct & Indirect Project Costs
  • Probability and Standard Deviation Formulae
  • Contract types according to risk distribution
  • Fixed Price Contracts, Cost-Plus Contracts

Day Three

Developing the Project Budget & Cost Control 

  • Risk Identification, Analysis & Management
  • Qualitative Risk Analysis
  • Quantitative Risk Analysis
  • Risk & Probability Matrix
  • Risk Response Strategy
  • Cash Flow management

Day Four

Approximate & Detailed Estimating Methods

  • Material Estimating
  • Civil/Construction Estimating
  • Labor estimating, Detailed estimating with labor crews
  • Procurement Management
  • Risk distribution in contracting
  • Project risk profiles

Day Five

Advanced Estimating Methods

  • Building Information Modeling (BIM)
  • Cost Estimating Relationships (CER)
  • Computer Estimating
  • Control Charts

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