Project Cost Management: Estimating, Budgeting and Value, London

1 November, 2017 | 09:00 - 17:00

Venue address:

The Hatton
51-53 Hatton Garden
London
EC1N 8HN
United Kingdom

About this event

During the training course you will address three broad themes that underpin project cost:

  • The project budget - What is the project budget and how does it compare to the final cost
  • Cost estimating - How do we develop an estimate of the cost - and does this differ between client, designer and contractor
  • Risk and value - How are risk and value incorporated into the budget

Set against a background of estimating in the construction industry you will explore the elements of project cost and how budgets are established. Working from first principles, cost build up and bills of quantities will be developed and tested using case studies. Contractor tender pricing processes and the effects of risk, value and decision making on project costs will be explored.

The further learning value and structure of this training course conforms to CPD guidelines.

Learning objectives:

  • How to prepare a project budget and relate the budget to a Bill of Quantities
  • How to prepare a feasibility cost estimate
  • How to control costs
  • How to accommodate risk in cost estimating
  • Broad principles and processes of construction cost estimating
  • Elements of price and build up of cost from first principles
  • The difference between cost, value and waste
  • The financial consequences of construction cost decision making
  • The interaction between project, client and project governance
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