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Cost Engineering - Effective Estimating and Cost Control of Technical Projects

ENDED
Training by  CITED
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On-Site / Training
Ended last Jul 30, 2020
NGN  120,000.00

Details

THE COURSE


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. 

Outline

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 
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Citadel for Technological and Engineering Dev. (CITED), a leading organisation in rendering quality service in Corporate Training, Manpower Development and Continued Professional Development (CPD) of Engineers, Technologist and Technicians have been in existence for over twenty years bringing quality service to Nigerians and Nigerian Engineers. Our portfolio of programs is renowned for its breadth and depth of focus, the caliber of its speakers, its interactive, practical and result-orientated nature, and the diverse and national range of participants. It is an excellent networking opportunity.

CITED programs also offer concrete toolkits of effective and practical techniques, strategies and skills to take away. The content continually evolves in response to new business. Our workshops are designed specially for individuals interested in or currently using engineering/technical expertise/skills and technologies to solve their organisation challenges.

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