Advanced Cost Estimation (32 PDH)
11 February, 2019 - 08 April, 2019
This is a Professional Development Distance Program Course. These are scheduled with a start and end date.
Looking for professional development but do not have the time to take off from work?
Looking for refresher course on specific engineering topics and cannot find an intensive course to serve your needs?
This may be your ideal Professional Development course!
Find out more on how the Professional Development Distance Program (PDDP) may work for you - Click here
This course is 8 weeks in duration.
The PDDP program is more of a self-guided learning style.
You are required to read the notes and materials given, complete the follow-up assignments on your own, send in your questions prior to your 1 hour webinar meeting (if required) and be involved in live discussion via the internet.
Once you have completed the course, you will receive a certificate of completion
In competitive markets, following rigorous estimation process is a key strategy to increase your chances of winning the bid. The estimation accuracy depends on the available information and the time possible to prepare the estimates. This course introduces the attendees to different kinds of estimates, different types of costs associated with works, and it prepares the attendees to know what to include in the unit prices of various works and apply it to actual project cases.
The students will be able to:
- Apply different levels of estimation from conceptual to detailed cost estimates.
- Estimate different types of costs including direct and indirect costs.
- Allocate contingency allowances to projects and assess risks.
- Estimate preliminary works including temporary works related to various types of sites.
- Prepare elemental cost breakdown structure and develop unit rate estimates.
- Prepare a cost management plan and a cost report.
- Use the computer for cost estimation.
1. Project life cycle (Lecture 1)
- Roles of the estimator.
- Understand different kinds of projects.
- Different stages of a project.
- Whole life costing
2. Different procurement methods. (Lectures 2& 3)
- Understanding different types of contracts.
- Owner, consultant, Contractor, Subcontractors and suppliers roles in a project.
- Understanding components of contract documents.
- Understanding different factors affecting estimation.
3. Types of cost (Lectures 4 & 5)
- Discussing different types of costs.
- Factors affecting costs
- Methods of preparing cost estimates
- Classes of cost estimates.
- Risk assessment and contingencies.
- Insurance in construction
- Discussing different types of Bonds.
- Estimate various costs of different components of a project.
4. Estimation different types of work (Lectures 6 & 7)
- Understanding cost breakdown structure concept
- How to build up cost estimate.
- How to obtain cost information
- Understanding how estimators use construction cost estimating to develop a bid price
- Different types of contracts such as LS, unit rate and labor and materials
- Estimation of general requirements.
- Value analysis
- Cash flow forecasts.
5. Tender and bids. (Lecture 8 & 9)
- Different types of tenders.
- Understand tender procedures, invitation and instruction to tenderers
- Discussing the processes used to finalize and submit a bid.
- Estimator report.
- Ethical issues related to tenders
- Evaluate tenders and contract awards
6. Cost Control: (Lecture 10 , 11)
- Progress Payment preparation.
- Cost report content
- Labor productivity
- Estimation Change orders
- Delay and claims
- Computer aided estimating
GIC reserves the right to cancel or change the date or location of its events. GIC's
responsibility will, under no circumstances, exceed the amount of the fee collected.
GIC is not responsible for the purchase of non-refundable travel arrangements or
accommodations or the cancellation/change fees associated with cancelling them.
Please call to confirm that the course is running before confirming travel arrangements
and accommodations. Please click here for complete policies.
Each participant will receive a complete set of course notes and handouts that will
serve as informative references.
Request a New Location
Advanced Cost Estimation (32 PDH)
We can offer our courses in new locations, or customer prefered locations. If you
would like to have the course of your choice offered in a new location, submit this
form, include your contact information.
This course can be customized and delivered on-site at your facility.