An Intensive 5-day Training Course
Construction Costs and Estimating
Cost-risk, Control and Estimation Techniques
CLASSROOM DATES
INTRODUCTION
Cost estimating, and analysis requires a knowledge of costing combined with a variety of experiences in alternative analysis, material selection, risk management, contingency planning and contract types.
This EuroMaTech training course in Construction Costs and Estimating is designed to offer participants the opportunity to enhance their capabilities in cost estimating and analysis as a profession that combines the understanding of theoretical estimating principles with engineering, project management, procurement, and budgeting disciplines.
Participants attending this Construction Costs and Estimating training course will develop the following competencies:
- Key cost estimating and management definitions and concepts
- Various conceptual and detailed cost estimating techniques
- Cost-Risk analysis and defining the required risk reserves
- Cost controlling using earned value management
- Understand costing versus pricing
- Review contract types regarding the price payment
TRAINING OBJECTIVES
This Construction Costs and Estimating training course aims to enable participants to achieve the following objectives:
- Know the basic concepts of preparing costs estimates, budgets and cost reports
- Learn how to calculate, analyse and manage costs, and acquire the skill of measuring and calculate costs elements for goods and services.
- Recognize the different concepts of preparing estimated costs for projects and tenders (Pricing)
- Understand the cost control of the projects using Earned Value Management.
- Preparing policies and processes that help in estimating the financial costs of the projects and submitting proposals costs and recommendation.
WHO SHOULD ATTEND?
This EuroMaTech training course is designed specifically for those professionals who are involved in cost planning, estimating, analysis, budgeting, and controlling such as, but not limited to:
- Cost Estimators and Cost Controllers
- Project Planners and Project Controllers
- Project Managers and Team Members
- Procurement Leaders and Staff
- Finance Staff
TRAINING METHODOLOGY
The EuroMaTech training course in Construction Costs and Estimating will combine presentations with interactive practical case studies, supported by video materials, and group activities. Delegates will be encouraged to participate actively in relating the principles of cost estimating and management to the needs of their projects and organizations.
TRAINING SUMMARY
This Construction Costs and Estimating training course shall provide cost estimating techniques including conceptual and detailed cost estimating techniques, It will also cover the important aspect of Cost-Risk analysis and defining the required risk reserves as well as the Earned value analysis for cost controlling and reporting.
TRAINING OUTLINE
Day 1: The Foundation for Project Cost Management
- Applications of Cost Estimating
- Types of Cost Estimates: Life Cycle Costs, Budget, Proposal, etc
- Cost Estimating Inputs and Products
- WBS and Cost Element Structure (CES)
- Estimate Development and Validation
- Estimate formal and informal Reviews
- Day 1 Q and A
Day 2: Cost Estimating Techniques and Case Studies
- Analogous Estimating Methods
- Parametric Estimating Process
- Parametric Model Development
- Bottom-Up Estimating Methods
- Estimating Labour, Material and Equipment Costs
- Cost Breakdown Structure (CBS)
- Inflation and Cost Estimating
- Inflation Indices and Procedures
- Day 2 Q and A
Day 3: Cost Control using EVM, Learning Curve and Regression Analysis
- Earned Value Management (EVM)
- Cost Variance (CV)and Schedule Variance (SV)
- Schedule and Cost Performance Indices (SPI & CPI)
- Estimate At Complete (EAC) and Variance at Complete (VAC)
- Different Learning Curve Concepts and Theories
- Learning Curve Application
- Regression Analysis
- Day 3 Q and A
Day 4: Cost Risk Analysis
- Risk Definitions and Risk Process
- Risk Management Planning and Identification
- Risk Analysis and Treatment (Mitigation)
- Quantitative Risk Analysis and Sensitivity Analysis
- Simulation and probability
- Present Value of Money and Time Value of Money
- Cost-Benefit Analysis and Breakeven Analysis
- Day 4 Q and A
Day 5: Contracts and Pricing
- Pricing vs Costing
- Pricing Strategies
- Profit and Revenue
- Contract Types and Risk Sharing
- Overall Course Review
- Post Course Assessment
- Course Closure
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
FAQ
EuroMaTech provides a range of ISO certification and compliance training courses, including:
- ISO 9001 – Quality Management Systems Training
- ISO 45001 – Occupational Health & Safety Management Training
- ISO 14001 – Environmental Management Systems Training
These courses help organizations adopt internationally recognized standards and improve their overall performance.
To register for a training course, you can:
- Visit the EuroMaTech website, browse the available courses, and follow the online registration process.
- Contact EuroMaTech’s support team for assistance with course selection or inquiries about corporate training solutions.
EuroMaTech stands out as a leader in training and professional development due to:
- 30+ years of experience delivering high-impact training courses across industries.
- Accreditations from leading institutions, ensuring top-tier course quality and recognition.
- A portfolio of thousands of training courses, serving professionals at every level.
- A focus on innovation and future-ready learning models, including blended and digital training.
- Long-term partnerships with organizations globally, ensuring sustained success through talent development.
EuroMaTech has successfully delivered thousands of training courses, with thousands of professionals from over 50 countries attending annually.
We are happy to share the profiles of our expert instructors. To learn more about their qualifications and experience, please contact us info@euromatech.com
We provide two flexible training formats to suit your preferences:
- Classroom Training: Experience in-person learning with expert instructors. Engage in interactive discussions, hands-on activities, and benefit from face-to-face networking.
- Online Training: Join live online sessions from anywhere, offering flexibility for those with busy schedules or who prefer remote learning.
- In-House Training: We can bring our training directly to your organization, allowing for tailored sessions that address your specific needs and objectives.
Yes, we provide tailored training solutions designed to meet the specific needs of your organization. Customized courses can be delivered either in-person or online, and you can select the dates and duration that best fit your schedule. For more details, please contact us at inhouse@euromatech.com
Yes, we can assist you with the following:
- Corporate Discount: If available, we can extend our corporate discount for your stay at selected hotels.
- Hotel Suggestions: We can provide recommendations for nearby hotels based on your preferences and budget.
Feel free to explore online booking platforms for the most cost-effective options.
