Why Attend This Training Course?

Project Planning & Cost Control course is designed to provide owners, managers, estimators, and field personnel with a general knowledge of the process of planning and controlling a project from beginning to end utilizing ways and means of monitoring, saving and controlling costs. 

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What Is The Training Course Methodology?

This training course methodology depends on enabling participants to interact and exchange experiences, explore their competencies and achieve their career aspirations, using forward-thinking training arts, such as theoretical lectures and/or open discussion to exchange opinions and experiences, scenarios, innovative thinking brainstorming. Participants will receive an agenda including training material as a reference, in addition to some extra notes and booklets. 

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Who Should Attend This Training Course?

This training course is designed the following levels:

• Project Managers

• Civil Engineers

• Construction Managers

• Contractors & Sub-contractors

• Site engineers

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What Are The Training Course Objectives?

The aim of this course is to enhance the knowledge & skills of the participants in the following topics and will include:

• Understand the impact and methodology of construction cost control

• Understand the benefits of good project cost control for successful project outcomes

• Ways and means of minimizing and controlling costs on site

• Use best practice to minimize costs and negative impacts

• Describe a typical project cost management life cycle

• Cost reporting systems - new technology in monitoring costs and reports

• Understand the effect improper field reporting has on cost control

• Explain the action required at each phase of the project cost management life cycle and understand the significance of each phase

• Explain the key steps required to improve project estimates, budget and cost baselining, performance measurement and analysis, cost monitoring and control during project execution and interpreting and reporting project performance throughout a technical project life cycle

• Understand the Contract process from bidding to project close-out

• Specify key quantitative measures for determining the project performance using Earned Value Management (EVM)

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What Is The Training Course Curriculum?

Estimating Definitions

• Project life cycle

• Purpose of estimates

• Accuracy & probability

• Allowances

• Contingency and escalation

• Money of the day/real term

• Estimating plan/basis of estimate

Factor Estimating

• Dentitions, advantages, and disadvantages

• Exponent method

• Cost per capacity method

• Case study: factor estimating (I)

Quantity Ratio Estimating

• Definitions, advantages, and disadvantages

• Quantity ratios for piping

• Quantity ratios for electrical & instrumentation

• Quantity ratios for structural steel

• Quantity ratios for civil, painting & insulation

• Case study: quantity ratio estimating (II)

Parametric and Range Estimating

• Nomenclature

• Pareto's law

• Critical elements and key questions

• Range estimating input and simulation

• Detailed estimating

• Discipline estimating

• Unit rates & sources of pricing

• Estimating of equipment

• Piping estimate

• Insulation estimate

• Civil estimate

Location Factors and Market Factors

• How to set up a location factor

• Location cost surveys

• Steel- and commodity prices

• Benchmarks

• Indices

• Cost modeling

Budgeting

• Setting up a project budget

• Cost breakdown structure

• Project baseline

• Contingency allocation

• Work breakdown structure

• Code of accounts

• Interaction with contracting

• Procurement

Why Cost Control

• Pre-requisites for effective cost control

• Cost control plan and procedures

• Schedule control

• Progress measurement

• Earned value analysis/management

• Project controls best practices

• Integrated cost & schedule control

• Project control tools

Risk Identification and Risk Workshops

• Methodology

• Attendants

• Risk registers

• Risk modeling

• Cost risk analysis

• Schedule risk analysis

• Deterministic methodology

• Probabilistic methodology

• Risk analysis tools

• Risk management

Risk Management and Analysis

• Risk mitigation

• Project risk management

• Cost risk analysis

• Ranges

• Distributions

• Correlation

• Iterations

• Uncertainties in duration

• Critical path

• Critical chain