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Project Cost Estimation and Control (PowerPoint PPTX)
PowerPoint (PPTX) 61 Slides
BENEFITS OF DOCUMENT
- Enhances project cost estimation skills
- Learn project financials
- Enhance cost control skills
DESCRIPTION
Introduction and Course Objectives
The estimating techniques covered in this course will provide participants with the necessary skills to forecast accurately the anticipated costs of projects.
The development of reliable cost estimates during the design and early conceptual stages of a proposed project is of critical importance since the decision to proceed with a project is often based almost exclusively on early conceptual cost estimates. These estimates also provide the basis for the cash flow projections and forecasts used during the project feasibility study.
Course Outlines
Day 1
Cost Estimating Basics
? Basic Project Management definitions
? Cost Selection Methods
? Typical project terminology & setting up for success
? Project cost management, Cost Control
? Resource & Cost Allocation
? Understanding project management inputs to cost estimation
Day 2
Pricing, Contracts and Risk
? Project management inputs to cost budgeting
? Resource Requirements
? Direct & Indirect Project Costs
? Probability and Standard Deviation Formulae
? Contract types according to risk distribution
? Fixed Price Contracts, Cost-Plus Contracts
Day 3
Developing the Project Budget & Cost Control
? Risk Identification, Analysis & Management
? Qualitative Risk Analysis
? Quantitative Risk Analysis
? Risk & Probability Matrix
? Risk Response Strategy
? Cash Flow management
Who Should Attend
? Project Cost Estimators
? Project Designers
? Project Planners and Schedulers
? Contracts Professionals
? Project Procurement and Purchasing Staff
? Project Control and Business Services Professionals who have the responsibility for preparing cost estimates and project proposals in client and contracting companies
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Source: Best Practices in Project Cost PowerPoint Slides: Project Cost Estimation and Control PowerPoint (PPTX) Presentation, Tarek Darwish, Sr. Consultant & Trainer
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