Construction Cost Estimating and Cost Control

Details

This advanced training course focuses on the critical aspects of cost estimating and cost control in construction projects. Participants will learn advanced techniques for detailed cost estimation, budgeting, cost tracking, and financial control. The course aims to enhance participants' abilities to manage project costs effectively, ensuring projects are completed within budget and achieving financial objectives.

Target Group

Target Group:

• Construction project managers and site supervisors.
• Cost estimators and quantity surveyors.
• Financial controllers and accountants in construction firms.
• Civil engineers and construction professionals involved in cost management.
• Students and recent graduates in construction management or related fields.

Goals

• Master the principles and methodologies of construction cost estimating.
• Develop accurate and detailed project cost estimates.
• Implement effective budgeting and financial planning practices.
• Utilize advanced techniques for cost tracking and control.
• Optimize resource allocation and manage cost variances.
• Enhance decision-making through financial analysis and reporting.

Target Competencies

Target Competencies

• Advanced understanding of construction cost estimating
• Skills in accurate and detailed cost estimation
• Competency in budgeting and financial planning
• Knowledge of cost tracking and control techniques
• Ability to optimize resource allocation and manage cost variances

Outlines

Introduction to Construction Cost Estimating

• Importance of cost estimating in construction
• Overview of cost estimating methodologies
• Types of cost estimates (preliminary, detailed, etc.)
• Factors influencing construction costs
• Case studies on successful cost estimating practices

Advanced Cost Estimation Techniques

• Detailed cost estimation methods (analogous, parametric, bottom-up)
• Using historical data and cost databases
• Software tools for cost estimating
• Developing and validating cost estimates
• Managing contingencies and allowances