A fundamental aspiration of all projects is to be on time and within budget. One of the challenges accountants and engineers face is defining a realistic project budget. A further challenge is then sticking to that budget. In ever increasing competition, accountants and engineers need to demonstrate that they understand the commercial aspects as well as the technical ones and defining and delivering projects within budget is a key attribute.
This two day course has been specifically designed to build ability, knowledge and awareness of the key elements of cost and budgets on projects. The course is designed to equip participants with the ability to prepare and control budgets, and equip you with the tools and understanding to work effectively and manage costs within projects
During the course you will address three broad themes that underpin project cost:
- The project budget - What is the project budget and how does it compare to the final cost
- Cost estimating - How do we develop an estimate of the cost - and does this differ between client, designer and contractor
- Risk and value - How are risk and value incorporated into the budget
At the end of the course each delegate will be able to:
- Prepare a project budget and relate the budget to a Bill of Quantities
- Prepare a feasibility cost estimate
- Understand how to control costs and accommodate risk in cost estimating
- Understand broad principles and processes of cost estimating
- Understand work breakdown structures and project accounting principles.