Project Cost Estimating and Control (12 PDUs)
|Event Date/Time: Jun 25, 2012||End Date/Time: Jun 26, 2012|
The purpose of this course is to present essential practices of project estimating and control, applying proven cost estimation techniques.
The course is taught on the basis of â€œcase methodâ€ comprised of lectures and group question and answer periods.
To familiarize participants with the various aspects of estimating, budgeting and project cost control techniques - from the initial feasibility to projects completion stages - that will ensure projects success.
This seminar is relevant to all personnel of organizations active in procuring or delivering construction services, including private and public owners, consultants and contractors, financial institutions, bonding and insurance companies. It will be of particular benefit to all engineers, architects, construction managers, project managers, and other professionals who want to have a better understanding of the various aspects of cost estimating to provide knowledgeable advice to decision makers and better manage projects budget.
Program Outline (1.2 CEUs / 12 PDHs)
Purpose of the course
Objectives of cost management
Creating an effective cost management plan aligned with business strategy
Cost Estimation: cost baselines for project stages
Defining project scope and requirements
Cost estimating formats
Establishing the unity of measurement
Process of capturing the historical costs
Cost estimation techniques
Procurement and Legal Aspects in Cost Estimating
Preparing Tender Documents
Establishing an independent and unbiased budget analysis & control process
Making best use of the project baselines to control the project
Tracking progress: proactively zeroing in on variances
Creating project spend graphs and other tools for cost monitoring
Uncovering and taking action on cost control opportunities
Mitigating Risk in Project Costs: Contingency Management
Identifying the sources of risk at each project phase
Risk allocation and assignments of liability for costs
Establishing and managing the project contingency reserve
After Attending This Course You Will be able to
Establish cost management plan
Prepare and organize cost estimates for each project stage
Monitor , analyze and control project budget
Recommended Textbooks Construction Estimating -Professional Reference by DEWALT
Construction Budgeting by Frank W Helyard
Mohamed Elbarkouky, Ph.D., P.Eng., PMP, is a project controls expert with more than 12 years of hands-on experience covering a wide range of project management technical areas. He has planned and controlled large number of successful civil, mechanical and installation projects of varying size and complexity in Canada, Greece, Africa, and the Middle East. Mohamed is a project management professional (PMP) and he currently works for a large Canadian Contractor Company, as a senior project engineer.
Mohamed obtained his Masters degree in Construction Management specialization with the American University in Cairo (AUC), and his Ph.D. in Construction Engineering and Management specialization with the University of Alberta. His field of specialization is Project Modeling, Planning and Control. Mohamed also has more than ten years of project management teaching experience. He conducted several successful courses with the Canada School of Public Services and Global Innovative Campus, such as the preparation for the PMP exam of PMI and the NPPE of APEGGA in addition to teaching several courses in project management, planning and control.