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Cost Engineering - Effective Estimating and Cost Control of Technical Projects Course

By: Citadel for Technological and Engineering Dev.

Lagos State, Nigeria

28 - 30 Jul, 2020  3 days

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NGN 120,000

Venue: CITED/BOAZ Training Centre,Nigerian Institute of Surveyor (NIS) Building, 2nd floor, Left Wing,Opposite Lagos Revenue House (formerly Elephant Cement House),ASSBIFI Road, Secretariat, Alausa,Ikeja, La

Project leaders and technical staff who are charged with delivering tangible results in their areas of responsibility require objective cost assessments for funding and control decisions on ongoing basis. The business purpose of the cost engineering function is to provide these assessments early and reliably, so that better decision may be made.

This seminar examines the key concepts of cost engineering including estimating, risk analysis, cost control, scheduling and change management to achieve best value for investments and expenditures. It provides methodologies, procedures and tools (e.g. tables, forms) to do the work, along with hands-on experience on their use. Participants will be in a position to use these tools and procedures starting immediately to meet success criteria of current activities.
The Goal

To provide an understanding of the key concepts of cost engineering and where/how they should be applied. To provide proven, effective cost estimating and control methods. To enable participants to prepare estimates and assess/mitigate risk by utilizing appropriate sources, and to use these data plus forecasting techniques for cost control

Programme Content

Overview of Cost Management

  • The 10 key elements of capital management
  • Models of project and process development
  • Roles and responsibilities
  • Mission statement of Cost Engineering

Cost Engineering Practices

  • The 4 key elements of cost engineering
  • Work Breakdown Structure
  • Cost engineering products
  • Cost information - sources of data
  • Training and Behaviours

Cost Estimating

  • Types of estimates
  • Estimating methods
  • Direct and indirect costs
  • Estimate format and preparation
  • Factors of a Good Estimate
  • Cost containment

Risk Analysis

  • Types of uncertainty
  • Risk assessment - the checklist approach
  • Risk tracking and reporting
  • Case studies

Computer Based Estimating

  • Software and databases
  • The practitioner-machine interface
  • Mastery levels
  • Roles and responsibilities

Option Analysis

  • Best value assessment
  • Project/process selection criteria
  • Key factor analysis

Project Cost Controls

  • Cost tracking and trending
  • Authorization for expenditure
  • Cost status reports
  • Forecasting methodology and procedure
  • Fixed asset management
  • Change management
  • Scheduling
  • Close-out procedures
  • Contract files
  • Lessons learned
  • Case study 
CITED/BOAZ Training Centre,Nigerian Institute of Surveyor (NIS) Building, 2nd floor, Left Wing,Opposite Lagos Revenue House (formerly Elephant Cement House),ASSBIFI Road, Secretariat, Alausa,Ikeja, La Jul 28 - 30 Jul, 2020
NGN 120,000.00 + 6,000.00 (VAT)
(Convert Currency)

ENGR BOLA BIDO 08037192728