/  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
  • London
    4 - 3 - 2018
    8 - 3 - 2018
  • Dubai
    11 - 3 - 2018
    15 - 3 - 2018
  • Paris
    4 - 3 - 2018
    8 - 3 - 2018
  • Kuala Lumpur
    15 - 4 - 2018
    19 - 4 - 2018
  • Istanbul
    8 - 4 - 2018
    12 - 4 - 2018
  • Muscat
    15 - 4 - 2018
    19 - 4 - 2018
  • London
    20 - 5 - 2018
    24 - 5 - 2018
  • Dubai
    6 - 5 - 2018
    10 - 5 - 2018
  • Paris
    20 - 5 - 2018
    24 - 5 - 2018
  • Kuala Lumpur
    10 - 6 - 2018
    14 - 6 - 2018
  • Istanbul
    17 - 6 - 2018
    21 - 6 - 2018
  • Muscat
    10 - 6 - 2018
    14 - 6 - 2018
  • Dubai
    24 - 6 - 2018
    28 - 6 - 2018
  • London
    15 - 7 - 2018
    19 - 7 - 2018
  • Dubai
    8 - 7 - 2018
    12 - 7 - 2018
  • Paris
    15 - 7 - 2018
    19 - 7 - 2018
  • Kuala Lumpur
    12 - 8 - 2018
    16 - 8 - 2018
  • Istanbul
    26 - 8 - 2018
    30 - 8 - 2018
  • Muscat
    12 - 8 - 2018
    16 - 8 - 2018
  • London
    9 - 9 - 2018
    13 - 9 - 2018
  • Dubai
    16 - 9 - 2018
    20 - 9 - 2018
  • Paris
    9 - 9 - 2018
    13 - 9 - 2018
  • Kuala Lumpur
    28 - 10 - 2018
    1 - 11 - 2018
  • Istanbul
    21 - 10 - 2018
    25 - 10 - 2018
  • Muscat
    28 - 10 - 2018
    1 - 11 - 2018
  • London
    4 - 11 - 2018
    8 - 11 - 2018
  • Dubai
    11 - 11 - 2018
    15 - 11 - 2018
  • Paris
    4 - 11 - 2018
    8 - 11 - 2018
  • Kuala Lumpur
    16 - 12 - 2018
    20 - 12 - 2018
  • Istanbul
    9 - 12 - 2018
    13 - 12 - 2018
  • Muscat
    16 - 12 - 2018
    20 - 12 - 2018
  • London
    13 - 1 - 2019
    17 - 1 - 2019
  • Dubai
    20 - 1 - 2019
    24 - 1 - 2019
  • Paris
    13 - 1 - 2019
    17 - 1 - 2019
  • Kuala Lumpur
    24 - 2 - 2019
    28 - 2 - 2019
  • Istanbul
    17 - 2 - 2019
    21 - 2 - 2019
  • Muscat
    24 - 2 - 2019
    28 - 2 - 2019

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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