Course Description

Today’s ever-changing business environment requires new approaches to cost engineering management, which has become an important tool for dealing with time-to-market, resources limitations, downsizing and global competition. The course covers the application of cost engineering and cost management principles, proven methodologies and the latest technology in support of the management process. Practical sessions will provide hands-on experience

Course Objectives

·         Understand the total cost management  and cost engineering

·         Understand the Total Cost Management through planning

·         Learn the controlling resources, costs, profitability and  risk

·         Learn the managing cost throughout the life cycle of any enterprise, program, facility, project, product or service

Who Should Attend?

·         Construction, factories and all levels from chief executive officers

·         Finance, human resources and project managers

·         Site engineers, planners and cost control engineers

Program Schedule

DAY 1

·         Course Introduction

·         Application Process and Requirements

·         The Nature and Type of Questions

·         Cost Elements

·         Pricing

·         Materials

DAY 2

·         Labor

·         Engineering

·         Equipment, Parts, and Tools

·         Economic Costs

·         Activity-Based Cost Management

·         Cost Estimating

·         Process Product Manufacturing

·         Discrete Product Manufacturing

DAY 3

·         Project planning

·         Understanding Time Management

·         Schedule development

·         Critical path method 

·         Schedule Compression

·         Progress Measurement and Earned Value

·         Earned Value for Variable Budgets

DAY 4

·         Tracking Cost and Schedule Performance

·         Performance and Productivity Management

·         Project Management Fundamentals and Planning

·         Project Labor Cost Control

·         Leadership and Management of Project People

·         Quality Management

·         Value Analysis

·         Contracting for Capital Projects

DAY 5

·         Strategic Asset Management

·         Basic Engineering Economics

·         Applied Engineering Economics

·         Statistics & Probability

·         Basic Concepts in Descriptive Statistics

·         Risk Management

·         Communication

·         The International System of Units (SI)