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Circle Circle
PCM - 44
5 days
Doha
25 September, 2021
10900 QAR

Cost Estimating, Budgeting & Cost Control

COURSE OVERVIEW

This course examines the key concepts of cost engineering including estimating, risk analysis, cost control, scheduling and change management to achieve best value for investments and expenditures. It provides methodologies, procedures and tools (e.g. tables, forms) to do the work, along with hands-on experience on their use. Participants will be in a position to use these tools and procedures starting immediately to meet success criteria of current activities.

 

This course provides extensive knowledge about cost planning and scheduling. It covers the classification of cost elements (Labor, Equipment and Material ), how to estimate the required project resources, allocating them on the time schedule, solving over allocation problems,  generating cash flow and S-curve, the financial impact of shortening project duration.

 

COURSE OBJECTIVE:

By the end of this training, participants will be able to:

  • Discover the basics of project execution and project control
  • Be able to understand estimates and prepare control budgets
  • Prepare meaningful cost reports
  • Get insight into change management, trends and change orders
  • Use project schedules
  • Prepare cash flow forecasts
  • Assist in value engineering studies
  • Calculate life cycle costs

 

WHO SHOULD ATTEND

This course is designed for all those responsible for making significant decisions concerning costs, plans and budgets for large and complex projects. Project managers, project cost estimators, cost controllers, project planners, contract professionals, and project procurement staff will find this course highly relevant.

The course should also be of interest to anyone involved in project initiation, project estimating and budgeting, and development as well as critical assessment of project cost proposals in client and contracting companies

 

COURSE CONTENT:

Module (01) the Role of Budgeting & Cost Control

1.1     The complexity of managing contemporary organisations

1.2     Strategic planning, budgeting and management control systems

1.3     The key elements of budgeting: objectives, initiatives and resources

1.4     Understanding the context for budgeting & the role of the controller

1.5     What are the advantages and the disadvantages of budgeting

1.6     What is it the situation in your organization? How to improve it?

 

Module (02) Budgeting and Cost Control

2.1     What are the essential inputs of the budgeting process?

2.2     What is zero-based budgeting?

2.3     Costing for budgeting: key terms and concepts

2.4     Variable vs. Fixed costs

2.5     The important role of contribution margin

2.6    Cases, problems and examples

 

Module (03) Costing: From Traditional to Activity-Based

3.1     Complementing traditional costing with activity-based costing

3.2     Direct vs. indirect cost

3.3     Cost allocation: traditional costing and activity-based costing (ABC)

3.4     From traditional budgeting to Activity-based budgeting (ABB)

3.5     The importance of costs analysis

3.6     Cases, problems and exercises

 

Module (04) Capital Budgeting

4.1     Capitalized vs. period costs

4.2     Capital budgeting

4.3     Payback period

4.4     Net-present value

4.5     Internal rate of return

4.6     What is it the situation in your organization?

 

Module (05) Managing Cost Risk

5.1     Risk Analysis & Management

5.2     Risk Identification

5.3     Qualitative Risk Analysis

5.4     Quantitative Risk Analysis

5.5     Risk & Probability Matrix

5.6     Risk Response Strategy

 

Module (06) Contract Types & Compensation Arrangements

6.1     Procurement Management

6.2     Make or Buy Analysis

6.3     Procurement documents

6.4     Contract types

6.5     Risk distribution in contracting

6.6     Project risk profiles

 

Module (07) Cost of Quality

7.1     Quality Planning & Assurance

7.2     Quality Control

7.3     Benchmarking

7.4     Pareto Analysis

7.5     Cause & Effect – Fishbone

7.6     Control Chart

 

 

Qatar Skills Training Centre
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TRAINING PLAN FORM

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