Project
INTRODUCTION
Projects cannot be successful without accurate and timely project cost estimating. Estimating is a practice that occurs throughout the project management lifecycle, and so it must be done effectively and efficiently.
Cost estimation is an approximate method of knowing the cost of a program, project or operation. It is a product of a cost estimation process.
Project Cost Estimating Techniques training course will provide the skills to correctly/accurately cost estimate a project and prepare budget reports based on it.
The estimating techniques 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.
OBJECTIVES
At the end of the The Project Cost Estimation Techniques training course,delegates will learn how to:
Learn the methods of cost estimation in a project, from the initial stages of the project till the final stage.
Preparation of lump-sum, cost-plus and unit price and time and materials estimate and contracts.
Analysing and applying risk assessment method to reduce risks at minimal costs.
Contingency plan for residual risks
Understand different types of contracts
WHO SHOULD ATTEND ?
The Project Cost Estimating Techniques training course is ideal for :
Project Cost Estimators
Project Designers
Project Planners and Schedulers
Contracts Professionals
Project Procurement and Purchasing Staff
Project Control and Business Services Professionals who have the responsibility for preparing cost estimates and project proposals in client and contracting companies
COURSE OUTLINE
Day 1
The methodology of Cost Estimation
Fundamental information about project management
Setting up projects for success
Importance of cost management and cost control in projects
Methods of cost selection and resource and cost allocation
Understanding project management data and how to apply cost estimation
Day 2
Cost Analysis, Contracts and Risk Distribution
Methods of Cost budgeting
Understanding the requirements of resource
Difference between Direct costs and Indirect costs
Concept of risk distribution in contracting and allocation of risk in contracts
Types of contracts in cost estimation/budgeting
Day 3
Construction Cost Estimation Methods
Cost estimation of materials
Approximate method of estimation
Labour estimation and detailed cost estimation with labour
Methods of procurement management
Risk profiles in a project (estimation for probability of risks in a project)
Day 4
Budgeting of Project and Cost Control
Analysis of risk
Understanding the concept of Qualitative risk analysis vs Quantitative risk analysis
Training on developing risk assessment matrix
Strategies and tools for risk response planning
Day 5
Advanced Estimating Methods: BIM and CER
Building information modelling (BIM)
Technique of cost estimating relationship(CER)
Computer training on cost estimation and control charts
Concept of cash flow management
Review of the course and Question and Answer session
IN-HOUSE TRAINING
LPC Training is capable of conducting this training programme exclusively for your delegates. Please e-mail us on admin@lpcentre.com for further information and/or to receive a comprehensive proposal.
www.lpcentre.com
DOCUMENTATION
High-Quality material has been prepared by the LPC team for distribution to delegates. In addition, a special note pad to facilitate note-taking will be provided.
CERTIFICATES
Accredited Certificate of completion will be issued to those who attend & successfully complete the programme.
SCHEDULE
Our Course timings commence at 09:00AM12:45PM Or 01:00PM - 05:00PM.
REGISTRATION & PAYMENT
Please complete the registration form on the course page & return it to us indicating your preferred mode of payment. For Further Information, please get in touch with us.
CANCELLATION AND REFUND POLICY
Delegates have 14 days from the date of booking to cancel and receive a full refund or transfer to another date free of charge. If less than 14 days notice is given then we will be unable to refund or cancel the booking unless on medical grounds. For more details about the Cancellation and Refund policy, please visit www.lpcentre.com/terms-and-conditions/
TRAVEL AND TRANSPORT
We are committed to picking up and dropping off the participants from the airport to the hotel and back.
CONTACT INFO
LONDON
Oxford Street, 25 N Row, London W1K 6DJ
+44 20 36 916 970 | +44 20 80 900 464 info@lpcentre.com
DUBAI
Business Bay, ParkLane Tower, Offices 718 - 719
+971 43 88 00 94
dubai.training@lpcentre.com
KUALA LUMPUR
No. 3273 Level 32, Menara Prestige, 1, Jalan Pinang, 50450 Kuala Lumpur +60 19 305 5694
www.lpcentre.com
www.lpcentre.com