Construction Cost Estimating & Control Training

Course Description

This intensive 1-week course provides a comprehensive overview of construction cost estimating and control techniques. Participants will learn industry-standard methods for accurate cost estimation, from conceptual design to detailed project phases. The course covers essential topics including quantity take-offs, pricing strategies, cash flow management, and earned value analysis.

Learning Objectives

• Develop accurate cost estimates for various construction project phases
• Apply effective cost control methods to monitor and manage project expenses
• Utilize earned value analysis for project performance measurement
• Implement strategies for optimizing project cash flow
• Understand and apply industry best practices in construction cost management

Course Modules

Day 1: Fundamentals of Construction Cost Estimating

• Introduction to cost estimating principles
• Types of estimates: conceptual, preliminary, and detailed
• Cost estimation tools and software
• Industry standards and best practices

Day 2: Quantity Take-offs and Pricing

• Quantity surveying techniques
• Material and labor cost analysis
• Overhead and profit considerations
• Developing unit prices

Day 3: Cost Control Fundamentals

• Budgeting and cost baseline development
• Cost coding and work breakdown structures
• Progress measurement techniques
• Change order management

Day 4: Earned Value Management

• EVM principles and terminology
• Calculating and interpreting EVM metrics
• Performance analysis and forecasting
• Reporting and corrective actions

Day 5: Cash Flow Management and Advanced Topics

• Project cash flow analysis and optimization
• Risk assessment in cost estimating
• Value engineering principles
• Technology trends in cost management

Practical Wins for Participants

• Ability to create accurate and comprehensive cost estimates for construction projects
• Skills to implement effective cost control systems on job sites
• Proficiency in using earned value management for project performance tracking
• Strategies to optimize project cash flow and financial performance