Certified Cost Technician (CCT) - AACE

Programma

CERTIFIED COST TECHNICIAN (CCT) – PROGRAM
The Certified Cost Technician (CCT) training course is an interactive mix of lectures. Many practical exercises are included in the training so that you can immediately put your newly acquired knowledge into practice. In addition to the training days, you should take into account 8 - 14 hours of self-study.

The Certified Cost Technician (CCT) training course is composed of 2 modules:

• Module I  – 5 consecutive in-class days Cost Engineering Principles and Practice (40 hours)
• Module II – Certified Cost Technician certification exam (21 hours of live online training (spread over 4 half days) plus 2 hours of online mentoring per delegate prior to the CCT exam)

The live online training days (module II) consist of:

• Review of CCT training topics including 100 sample questions
• CCT mock exam: 119 questions 

COURSE PROGRAM MODULE I

Module I consists of 5 days in-class training

1. Introduction to project capital budgeting and control

• What is the project capital budgeting process?
• The importance of capital budgeting controlling during project execution
• Disciplines involved in capital budgeting and control
• Standards and recommended practices

2. Financial mathematics and the time-value of money

• Interest - from concept to quantification
• Converting interest rates for different time periods
• Calculating present value, future value, and annuity
• Discounted Cash Flow (DCF)
• PRACTICAL EXERCISE

3. Project evaluation and selection methods

• Project economic evaluation indices
  PRACTICAL EXERCISE
• Project scoring models
  PRACTICAL EXERCISE
• Project portfolio optimization
  PRACTICAL EXERCISE

4. Depreciation methods and types of costs

• What is economic depreciation and why it matters
• Depreciation methods and types of costs
• PRACTICAL EXERCISE

5. Comparing project alternatives for replacing versus improving assets

• Elaborating alternative cash flow scenarios
• Evaluating and selecting the best alternative
• PRACTICAL EXERCISE

6. Cost and schedule estimating with risk contingency

• Principles of estimating
• AACE International Recommended Practices 17R-97 and 27R-03
• Cost estimating techniques
  PRACTICAL EXERCISE
• Parametric estimating and modelling
  PRACTICAL EXERCISE
• Schedule estimating techniques
  PRACTICAL EXERCISE
• Estimating the contingency reserve
  PRACTICAL EXERCISE
• Documenting the basis of estimates

7. Developing the project baseline and cash flow funding requirements

• Integrating the cost estimates, project schedule, and risk contingencies to develop and consolidate the project Performance Management Baseline (PMB) using Earned Value Management (EVM)
• Deriving the cash flow funding requirements from the project baseline 
• PRACTICAL EXERCISE

8. Capital budgeting monitoring and control

• Project cost and schedule performance measurement and analysis using Earned Value Management (EVM)
• Project risk performance measurement and analysis
• Managing project changes
• Using performance measurements to update the cost and schedule estimates
• Updating the project funding requirements and the benefits realization cash flows
• Updating and monitoring the project evaluation models and indices
• PRACTICAL EXERCISE

9. Final discussion

COURSE PROGRAM MODULE II

Certified Cost Technician (CCT) exam preparation
21 hours of live online training (spread over 4 half days) plus 2 hours of individual online mentoring.

Certification process and requirements (1 hour)

DAY I – Webinar (5 hours)

• Probability and statistics/basic business and finance/inflation
• Optimization
• Break - 30 minutes
• Communications
• Cost engineering areas of study/computer operations/operations research

DAY II – Webinar (5 hours)

• Elements of cost/costing and pricing
• Cost indices and escalation factors/estimating data sources
• Break - 30 minutes
• Cost, quality, resource, and productivity management

DAY III – Webinar (5,5 hours)

• Organizational structures/management theories, behavioral science, motivational management
• Planning & scheduling
• Break - 30 minutes
• Basic scheduling and present/future work analysis/metrics

DAY IV – Webinar (5,5 hours)

• Value engineering
• Depreciation
• Break - 30 minutes
• Cost management

Additional online materials for self-study

• Productivity adjustment/learning curve/capital equipment purchase, lease and rental (1 hour)
• Contracting and contract administration/societal/legal issues of management/constructability analysis (1 hour)
• Engineering economics/time value of money (1 hour)
• Comparative economic studies/forecasting (1 hour)

Preparation
To prepare for the Certified Cost Technician (CCT) training course, you should read and work out some problems in 'Skills and Knowledge of Cost Engineering' (6th edition) and the 'Certification Study Guide' (2nd or 3rd edition). These publications are included in the course fee. You should also reacquaint yourself with college algebra, including logarithms and exponents.

Docent(en)

This Earned Value Professional (EVP) training course is delivered under the Authorized Education Provider (AEP) accreditation program by AACE International. Your instructors are highly qualified and experienced international experts in the fields of cost engineering and project management. They will provide you with a unique blend of theoretical information and practical challenges and make sure that you will successfully pass the EVP exam! Your instructors are:

Alexandre G. Rodrigues, Eng PhD PMP
Dr. Alexandre Rodrigues has over 30 years of professional experience and is the founder and executive partner of PMO Projects, a consulting firm highly specialised in modern project management practices, with a special focus on areas such as performance measurement based on the Earned Value Management (EVM) method, cost engineering, project planning and scheduling, integrated risk management, and benefits management in large programmes and portfolios. PMO Projects has been operating in the international market for over 20 years, providing services to some of the most prestigious international organisations in the adoption of these practices and in a wide range of industry sectors, including defense, IT, mining, energy, pharmaceuticals, the public sector, and infrastructure.

Alexandre is one of 150 internationally recognised leading experts from the Cutter Consortium, a renowned international IT research company member of Arthur D. Little. He is president of the Portuguese Section of AACE International and has been coordinator/collaborator for the development of ISO 21500/21508 (EVM)/21511 (WBS) standards until September 2024, an initiative to which he continues to contribute as a volunteer. He was the lead author of the EVM standards published by the Project Management Institute (PMI), including the ANSI/PMI 19-006-2019 standard currently in force. Throughout his career, Dr Alexandre Rodrigues has lectured to undergraduate, postgraduate, and MBA courses at various universities in Europe, the United Kingdom, Australia, South America, and Africa.

Dr. Sean T. Regan, PhD CCP FAACE CEP EVP MRICS
Dr. Sean Regan has over 40 years of experience in planning, scheduling, estimating, cost engineering, contract administration, risk management, project management and Total Quality Management (TQM). He is experienced in implementing project management and construction project control systems for transportation, facilities, hospitality, telecommunications, power, infrastructure, mining & metals, nuclear, and petrochemical projects in over 56 countries in all 7 continents. Sean has experience with FIDIC, DTRA/DCMA/FAR, IMF, World Bank, EBRD and Asian bank policies, and tendering in support of projects.

Sean Regan is an active member, author and presenter for AACE, PMI, ACostE, FIDIC, and Project Controls Guild. He is association member (TAG) of ISO and ISO Work Group Voting Representative on project and programme management for ANSI standard 21506, 21508, 21511 and 21512. Sean is also lecturer at Anglo American University and has been a professor at international and US universities.