Construction Costs and Estimating: Cost-Risk, Control and Estimation Techniques
| Start Date | End Date | Venue | Fees (US $) | ||
|---|---|---|---|---|---|
| Construction Costs and Estimating: Cost-Risk, Control and Estimation Techniques | 16 Nov 2025 | 20 Nov 2025 | Kuala Lumpur, Malaysia | $ 4,500 | Register |
Construction Costs and Estimating: Cost-Risk, Control and Estimation Techniques
| Start Date | End Date | Venue | Fees (US $) | |
|---|---|---|---|---|
| Construction Costs and Estimating: Cost-Risk, Control and Estimation Techniques | 16 Nov 2025 | 20 Nov 2025 | Kuala Lumpur, Malaysia | $ 4,500 |
Introduction
Cost estimating, and analysis requires a knowledge of costing combined with a variety of experiences in alternative analysis, material selection, risk management, contingency planning and contract types. This Construction Costs and Estimating training course is designed to offer participants the opportunity to enhance their capabilities in cost estimating and analysis as a profession that combines the understanding of theoretical estimating principles with engineering, project management, procurement, and budgeting disciplines.
Participants attending this training course will develop the following competencies:
- Key cost estimating and management definitions and concepts
- Various conceptual and detailed cost estimating techniques
- Cost-Risk analysis and defining the required risk reserves
- Cost controlling using earned value management
- Understand costing versus pricing
- Review contract types regarding the price payment
Objectives
- Know the basic concepts of preparing costs estimates, budgets and cost reports
- Learn how to calculate, analyse and manage costs, and acquire the skill of measuring and calculate costs elements for goods and services.
- Recognize the different concepts of preparing estimated costs for projects and tenders (Pricing)
- Understand the cost control of the projects using Earned Value Management.
- Preparing policies and processes that help in estimating the financial costs of the projects and submitting proposals costs and recommendation.
This training course aims to enable participants to achieve the following objectives:
Training Methodology
The training course will combine presentations with interactive practical case studies, supported by video materials, and group activities. Delegates will be encouraged to participate actively in relating the principles of cost estimating and management to the needs of their projects and organizations.
Who Should Attend?
This training course is designed specifically for those professionals who are involved in cost planning, estimating, analysis, budgeting, and controlling such as, but not limited to:
- Cost estimators and cost controllers
- Project planners and project controllers
- Project managers and team members
- Procurement leaders and staff
- Finance staff
Course Outline
Day 1 - The Foundation for Project Cost Management
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Applications of Cost Estimating
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Types of Cost Estimates: Life Cycle Costs, Budget, Proposal, etc
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Cost Estimating Inputs and Products
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WBS and Cost Element Structure (CES)
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Estimate Development and Validation
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Estimate formal and informal reviews
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Day 1 Q and A
Day 2 - Cost Estimating Techniques and Case Studies
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Analogous Estimating Methods
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Parametric Estimating Process
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Parametric Model Development
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Bottom-Up Estimating Methods
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Estimating Labour, Material and Equipment Costs
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Cost Breakdown Structure (CBS)
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Inflation and Cost Estimating
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Inflation Indices and Procedures
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Day 2 Q and A
Day 3 - Cost Control using EVM, Learning Curve and Regression Analysis
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Earned value management (EVM)
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Cost Variance (CV)and Schedule Variance (SV)
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Schedule and Cost Performance Indices (SPI & CPI)
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Estimate At Complete (EAC) and Variance At Complete (VAC)
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Different Learning Curve Concepts and Theories
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Learning Curve Application
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Regression Analysis
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Day 3 Q and A
Day 4 - Cost Risk Analysis
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Risk Definitions and Risk Process
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Risk Management Planning and Identification
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Risk Analysis and Treatment (Mitigation)
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Quantitative Risk Analysis and Sensitivity Analysis
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Simulation and probability
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Present Value of Money and Time Value of Money
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Cost-Benefit Analysis and Breakeven Analysis
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Day 4 Q and A
Day 5 - Contracts and Pricing
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Pricing vs costing
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Pricing strategies
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Profit and Revenue
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Contract Types and Risk Sharing
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Overall Course Review
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Post Course Assessment

