Module 08-1 - Introduction to Managing Cost Estimating & Budgeting - The Purpose of Managing Cost Estimating & Budgeting
- The Process of Managing Cost Estimating & Budgeting
- History & What is a Cost Estimate
- Challenges Facing Both Owner and Contractor Cost Estimators
- Types of Cost Estimates and Their Uses
- Cost Estimating Processes (Owners and Contractors)
| Rev 1.04 |
Module 08-2 - Develop Cost Estimating & Budgeting Policies & Procedures Manual - Formatting Your Standard Operating Procedure
- Writing your Standard Operating Procedure
- Maintaining and Updating your Standard Operating Procedure
| Rev 1.01 |
Module 08-3 - Define The Estimates Purpose And Scope Of Work (Owner) - Team Cost and Scheduling Meetings
- Determine Level of Detail, Project Phasing, Weather & Other Constraints
- Finalise Work Breakdown Structure & Control Accounts & Responsibility Assignment
- Cost Estimating Templates, Activity Codes & Additional Schedule Coding Structures
| Rev 1.01 |
Module 08-4 - Creating The Owners Cost Estimate (Top Down) - Standardized WBS Structures, Source of the Cost Data, Assumptions/Constraints
- Major Changes, Project Information, Cost Estimating Software
- Conceptual Screening - (GPC Level 1 Cost Estimate)
- Capacity Factored Method, Parametric Modelling or Parametric Estimate
- Analogy or Cost Estimate Relationship (CER) or Cost Estimating Model (CEM)
- Expert Opinion Technique
- Study or Feasibility- (GPC Level 2 Cost Estimate)
- Life Cycle Cost/Costing, Calculating the Total Life Cycle Cost (LCC)
- Equipment Factored Cost Estimating, Percentage or Ratio Factored Cost Estimate
- Value Analysis/Value Engineering
- Budget, Authorization or Control (GPC Level 3 Cost Estimate)
- Owner Baseline, Owner Estimate, Bid or Tender Estimate (GPC Level 4 Cost Estimate)
| Rev 1.02 |
Module 08-5 - Define The Estimates Purpose & Interpret The Scope Of Work (Contractor)- Team Cost and Scheduling Meetings
- Value Analysis/Value Engineering
- Determine Level of Detail, Project Phasing, Weather & Other Constraints
- Finalise Work Breakdown Structure & Control Accounts
- Standardized WBS Structures, Responsibility Assignment Matrix (RAM)
- Cost Estimating Templates (Contractors)
- Source of the Cost Data, Assumptions/Constraints
- Major Changes
| Rev 1.01 |
Module 08-6 - Developing The Contractors Cost Estimate (Bottom Up)
- Bill of Quantities / Bill of Materials
- Contractor Cost Baseline, Bid or Tender- (GPC Level 5 Cost Estimate)
- What is Activity Based Costing, Components of Activity Based Costing, Case Study
- Producing the “S-Curve”
- Level of Effort
- Using Activity Based Management
- Using the Cost Estimate and Actual Costs of Work Performed (Cost Variance)
| Rev 1.01 |
Module 08-7 - Validate The Time & Cost Trade-Offs
- Assumption Testing & Sensitivity Analysis
- Monte Carlo Simulation, PERT Analysis & Cost vs Time Trade Offs (Optimization)
| Rev 1.00 |
Module 08-8 - Validating Horizontal And Vertical Integration
- Schedule & Cost Interfaces & Horizontal Traceability
- Summarising, Rolling Up / Down & Vertical Traceability
| Rev 1.01 |
Module 08-9 - Conducting A Cost Risk Analysis
- Dealing with Risks and Uncertainties
- Duration Risk & Uncertainty
- Monte Carlo Simulation
- Network Logic Risk & Uncertainty
- Merge Bias or Merge Points
- Schedule Cost Contingency Approaches
- Prioritizing Risks
- Probabilistic Branching
| Rev 1.01 |
Module 08-10 - Baselining And Communicating The Cost Estimate/Cost Budget
- Communicate the Cost Estimate/Cost Budget
- Develop Written Basis and Cost Estimate/Cost Budget Narrative
- Benchmark & Freeze the Schedule & Cost Performance Measurement Baseline
| Rev 1.02 |