Cost Engineering Effective Estimating and Cost Control of Technical Projects

Start Date End Date Venue Fees (US $)
26 Oct 2025 Al-Khobar, KSA $ 4,500 Register

Cost Engineering Effective Estimating and Cost Control of Technical Projects

Introduction

Project leaders and technical staff charged with delivering tangible results require objective cost assessments for funding and control decisions. The business purpose of the cost engineering function is to provide these assessments early and reliably so that a 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 the best value for investments and expenditures. It also provides methodologies, procedures, and tools, along with the hands-on application, of use.

Main Topics:

  • Professional associations & their role
  • Cost estimating
  • Project execution
  • Cost control
  • Project schedules
  • Scheduling basics
  • Relationship with Cost
  • Cash flow forecasting
  • Life-cycle costing
  • Value engineering

Objectives

    After participating in this course, you will be able to:

    • Apply the basics of project execution and control
    • Understand estimates and prepare control budgets
    • Prepare meaningful cost reports
    • Use project schedules
    • Prepare cash flow forecasts and calculate life-cycle costs

Training Methodology

This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practices. Participants will have the opportunity to share with the facilitator and other participants on what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.

Who Should Attend?

Those involved with cost estimating and controls:

  • Engineers
  • Technical staff
  • Project Managers
  • Construction Managers
  • Estimators

Course Outline

Module I: Welcome, Introduction, Workshop Preview, Learning Outcomes, and the Assessment Method

Professional Associations and their Role

  • AACEI and CIQS
  • Professional qualifications

Project Execution Basics

  • Definition and examples of projects
  • Phases of a project

Cost Estimating Basics

  • Definition
  • Basis of estimate
  • Types of estimate
  • Estimating accuracy
  • Estimating methodologies
  • Construction labor productivity
  • Indirect costs
  • Allowances and contingency

Module II: Cost Control

  • Elements of a good cost control system
  • Definitions
  • Work breakdown structure
  • Responsibilities and key elements
  • Forecasting
  • Reporting
  • Follow up and closeout
  • Tools and techniques

Project Schedule

Scheduling Basics

Relationship with Cost

Cash Flow Forecasting

Life Cycle Costing and Value Engineering

  • Life cycle costing
  • Value engineering
  • Exercise

Final Review

  • Lessons learned
  • Certificates
  • Next steps

Accreditation

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