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Cost Estimating Foundation

In this 4-day Cost Estimating Foundation course you will learn the basics of cost estimation, cost control and planning

Cost Estimating Foundation – mode of study

Option 1: Public 4-day course
Option 2: In-company course

See also Certified Cost Technician (CCT) and Certified Cost Professional (CCP)

Cost Estimating – what will you learn?

A successful project starts with a well-founded estimate of the costs. The 4-day Cost Estimating Foundation course will teach you the basics of cost estimation. You will learn approaches for different aspects of the estimating profession and you will learn how to apply them in your daily work.

During this course we emphasize practical experience as well as theoretical knowledge. A number of small cases will be prepared during the course. This helps you get familiarized with the knowledge you have just gained and apply it to real world situations. At the end of the Cost Estimating Foundation course you will have:

  • A basic understanding of the definitions of cost estimation, cost control and planning. You will also be able to read cost engineering reports and put it in the perspective of your project.
  • The basic knowledge to prepare and evaluate estimates quicker and more accurately. This will immediately have its effect on the control you have on the cost of your project.
  • The ability to make your own factor estimates and validate factor estimates prepared by others.
  • The knowledge to identify major cost risks of engineering. Together with the estimating methods this means you will be able to estimate the engineering involved in your projects.

Cost Estimating – course overview

On the first day of this Cost Estimating Foundation course, you will learn about specific approaches to estimating and their related terms. You will also learn what estimates can be used at what stages of your projects. The second and third day focus on detailed and factor estimating - the two main estimating techniques - and how to apply them. The fourth, and final, day focuses on estimating the cost of the actual engineering work. Engineering not only defines the cost of your project by the design that is made, but the engineering process in itself is part of your project cost as well. The focus of this day is on estimating those engineering cost. It will help you keep the cost low for your engineering phases, but as a result you can also prevent budget overruns.

Cost Estimating – who should attend?

The Cost Estimating Foundation course is suitable for everyone who is part of any team that executes industrial projects. The course is aimed at: project managers/directors, finance project executives/managers, project engineers, cost estimators, project cost engineers, discipline leads, members of the purchase department, members of a tendering team, work preparators and all who are involved in technical projects, cost estimation, cost control and planning, and contract review in their organizations.

Cost Estimating – requirements

There are no specific requirements to successfully attend this course.

Cost Engineering – limited number of participants

We keep the groups small to give every participant individual attention.

Partners

Would you like your logo/banner to be displayed here and are you interested in becoming a partner? Join us now and you and your business will have exposure during our monthly courses, on our website, in our brochures and through our newsletters. Contact us for more information!

In-company

Cost Estimating course – in-house
With at least 5 persons, an in-company Cost Estimating Foundation course could be your best choice. Are you interested? Please contact us at +31 (0)40 - 246 02 20 or send an e-mail to info@imfacademy.com to discuss the possibilities.

Content

COST ESTIMATING – CONTENT

DAY I
Cost Engineering – introduction

  • The basic definitions of and ties between cost estimation, cost control and planning
  • Various contract forms
  • The position of estimating in each phase of the project lifecycle
  • Definitions within estimating
  • Value engineering

DAY II
Detail Estimating

  • Estimating methods
  • Different approaches to estimating
  • Principles of the quantitative method
  • Buildup of unit rates
  • Direct versus indirect
  • Cases in preparing estimates by using various techniques for different disciplines

DAY III
Factor Estimating

  • Different factor estimating methods
  • Advantages and disadvantages of these methods
  • Quantitative estimating method
  • Estimating of equipment

DAY IV
Estimating of engineering

  • Engineering activities
  • Engineering effort in engineering phases
  • Methods of estimating engineering
  • Detailed approach per discipline

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Trainer(s)

All teachers are international experts in the field of cost control. They will provide you with a unique blend of theoretical knowledge and practical challenges.

Start date(s)

The Cost Estimating Foundation course consists of 4 consecutive days. All course days start at 09.00 hrs and last until approx. 17.00 hrs. The course will be held near Rotterdam (The Netherlands). You can attend the course at:

The Cost Estimating Foundation - training I

  • 11 - 14 March 2019

The Cost Estimating Foundation - training II

  • 16 - 19 September 2019

Fee / Registration

The fee of the Cost Estimating Foundation course is € 2,250 (VAT excl.) per participant. The fee includes all course materials, drinks and lunches.

*USD price is an approximate value. The actual USD price is based on the invoice date's exchange rate.



Step 1/4: Your selection


Terms & Conditions
In the event that you wish to transfer your booking to a later Cost Estimating Foundation course (if possible), you must notify us at least 4 weeks prior to the start of the booked course. In case you are not able to attend at all, delegate substitution may be made up until 2 weeks before the course starts, without any additional costs being charged. Cancellations will be accepted up to 14 days prior to the starting date of the Cost Estimating Foundation course. In this case we will invoice 10% of the course fee for administration costs. For cancellations made between 14 and 2 days before the starting date of the course, 50% of the course fee is due. If you cancel within 2 days before the start of the Cost Estimating Foundation course, you will have to pay the full course fee. All cancellations must be received in writing.

Payment
Payment of course fees must be received within 30 days of the invoice date, though always before the start of the Cost Estimating Foundation course.

Cost Estimating Foundation

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