Course Information

Number:FNU0014027
Name:Fundamentals of Cost Estimating

New Course:Yes
Description:

Cost Estimating is a vital task throughout the design lifecycle of a project to evaluate if design requirements are within budget constraints of the client/owner. This course will provide an overview on cost estimating methodology, review estimating resources/tools, define best practices, and identify key concerns.


Content:

  • Estimating Terminology
  • Estimating Methodology (Types of Estimates)
  • AACE Cost Estimate Classifications
  • Quantity Takeoffs (Group Exercise)
  • Work Breakdown Structure
  • Unit Pricing/Pricing Resources
  • Vendor Quotes
  • Exclusions/Assumptions
  • Factors to Consider
  • Contractor Markups
  • Contingency
  • Sensitivity Analysis
  • Q&A

Upon completion of this course, participants will understand how to develop and prepare a detailed cost estimate leveraging various estimating tools and estimating methods


Objectives:

  • Understanding of the estimating process and estimating methods
  • How to quantify the project scope of work
  • Understanding of pricing resources
  • Understanding of various factors that affect a cost estimate



No upcoming dates for this course.