ABOUT THIS COURSE
The purpose of cost estimation is to predict the quantity, cost, and price of the resources required to complete a job within the project scope.
Once the Project Team have identified and analyzed all of the work packages for the project, a cost estimate can be created for each work package. During this process the costing options are discussed and reviewed.
To establish an estimated cost against project tasks and activities that feed into the subsequent Cost Management processes, the Project Manager should first understand what’s involved in predicting quantity, cost, & price of resources.
In this course, you will gain an understanding of the cost estimation process and how to get to the financial commitment required for a successful project.
TOPICS COVERED IN THIS COURSE
- Some definitions and terminologies
- Cost Estimating Techniques
- Cost Estimating Work Packages
- Estimating Supplier and Subcontractor Costs
- Direct and Indirect Costs
- Capitalized Cost criteria
- Cost Allocation
- Allocating Costs
- Allocating the Cost of Risk
- Calculating the Cost of Quality
- Inputting Project Costs into the Project Schedule
COURSE DURATION
Approximately 20 Minutes
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