Program Overview

In this program you will learn about...

• This Program is Intended for any Professionals Preparing, Analyzing, Auditing or Approving  Estimates. Proposals, Value Engineering Ideas, Claims or Budgets.
• The program will provide the participant with the essential methodologies and tools for effective estimating, budgeting, cost control and value engineering on his job.
• The program emphasises use of standardized methods, procedures, knowledgebase and checklists.
• The participant will be empowered to participate and potentially lead corporate effort to build an estimating knowledgebase and early warning systems of potential overruns.
• A workshop during the program will give the participant a hands on opportunity to Prepare a Project Estimate.

Program Content

(Subject to Customization by Program Director based on Participant Group)
(Program Timings 8:30 AM to 2:30 PM) (Some Days 3:00 PM - 7:30 PM)

Day 1

• Registration
• Program Introduction
• Program Overview
• Estimating & Cost Control Problems

Day 2

• Understanding the Estimating Problem
• Estimating vs. Guess Work
• Classification of Costs
• Bidding & Negotiation Issues
• Analyzing Production Costs

Day 3

• Impact of Contract Conditions on Estimates
• Good Practices in Estimating (Quality Assurance)

Day 4

• Defining Work Scope & Objectives: Physical, Documentation & Strategic
• Understanding Planning & Scheduling
• Impact of Planning Decisions on Costs
• Cost Escalation

Day 5

• Material Takeoff
• Standard Material Costs Data
• Work Method
• Productivity
• Labour Hours
• Labour Rates Data

Day 6

• Site Overheads
• Head Office Overheads
• Profit Allowance
• Contractor's Contingency Allowances
• Owner/Client's Contingency Allowances
•  

Day 7

• Cost Control…
• Achievement Measurement
• Regular Achievement Analysis
• Monitoring by Milestones
• Monitoring by Variances
• Impact of Variation Orders Claims
• Predicting for Remaining Part of Work
• Reporting Variances
• Proactive Reporting using Early Warning Systems

Day 8

• Computer Tools for Estimating
• Value Engineering Implementation
• Quality Assurance in Estimating
• Program Recommendations and Your Action Plan

Day 9 (Workshop)

• Hands on Preparing an Estimate for a Project using Checklists & Forms
• Feasibility Project
• Design Project
• Construction Project

Day 10 (Workshop)

• Evaluating Estimate or Cost Proposal Prepared by Others
• Feasibility Project
• Design Project
• Construction Project
• Using Computer Tools for Estimating