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Cost Estimation & Budgeting

MF103

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Cost estimates are summary figures for a project. Cost budgets allocate portions of the total to individual tasks. These tasks or work items are the output of the WBS process. Cost budgets can be used in ways that cost estimates cannot. They can identify individual tasks that are over estimates, focusing cost control management within the project. Because tasks in the WBS are also tied to a calendar, cost budgets also allow costs to be easily tracked over time. A measure of total cost of a project over time is referred to as the cost baseline.

Build a cost engineering background for all project elements and activities as part of an integrated project management suit.

All project staff looking for a project management position or certification and those working in cost engineering or looking for career promotion to start cost engineering such as project managers, project engineers, project control engineers and cost estimators.

Introduction
Project budgeting
Capital expenditure budgeting and analysis
Types of budgets, approaches to budgeting, budgeting and costing techniques
Linking the tactical budget to strategic objectives
Role cost engineering
Estimating types and approaches
Estimating sources
Analysis of cost elements
Cost control and management budget reports
Cost monitoring and cost control

Presentation & Slides
Audio Visual Aids
Interactive Discussion
Participatory Exercise
Action Learning
Class Activities
Case Studies
Workshops
Simulation

Terms & Conditions

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