This course covers the fundamental principles of cost estimating either in a generic version or a version for capital investment projects (petroleum, utilities, engineering, and construction industries).
The main topics include estimates’ classifications, estimating tools and techniques, the importance of historical records, project management maturity and impact on cost estimating. We also emphasize the need to have more than one or two estimates during the project life span. The course will discuss appropriate estimating in accordance with the different project stages and for different requirements.
Further, the course will also cover the specific components of proper estimates, such as: direct and indirect costs, escalation and technology allowances, contingencies and management reserve and any other project specific requirements.
This course will not provide specific rates or material costs tools since these are specific to a company and industry.
- Understand key terms and definitions relating to cost estimating
- Understand the need for more than one estimate along the project life span
- Learn about the difference between estimates classifications, which is a function of the use of the estimate
- Develop a good working knowledge of cost estimating tools and techniques
- Learn about the various components of an estimate
- Understand the differences between an estimate and a control budget
Who should Attend
All personnel, project team members, project managers, and others who are interested in learning how to prepare an estimate for projects of all types and classes.
Other versions of the generic course would be a version with a focus on clients’ organizations or an emphasis on capital projects.
About this Institute
SUKAD was established in Dubai, United Arab Emirates in 2004. In 2012, SUKAD opened another office in Lebanon. From these two offices, SUKAD has been providing services across West Asia and Africa. SUKAD is highly recognized as a leader in project management services; with a large percent of revenues acquired through repeat business and referrals from leading organizations.
SUKAD has an extensive project management research and development program. Under the label and trademark The SUKAD Way™, the R&D effort has led to the development of proprietary products such as The Customizable and Adaptable Methodology for Managing Projects™ (CAM2P™) and The Seven Elements of Project Management Maturity™ (The 7Es™).
In addition to the PM Methodology and PM Maturity Model, SUKAD has developed numerous advance courses and master certificates in project management. SUKAD is also publishing a series of books, booklets, and sample projects in Arabic and English. Their publications include ‘The Inheritance’ and the upcoming ‘Insan Al-Mujtama’ (Arabic), upcoming ‘Redefining the Basics of Project Management’, Project Management for the Accidental Project Manager, and a 4-part series on The Customizable and Adaptable Methodology for Managing Projects™.
SUKAD is a corporate citizen and a business with a heart. Over the years, SUKAD has provided numerous complimentary learning events to thousands of professionals either on our own (under our 2SPI™ program) or through partnerships with various organizations and universities.
In recognition of their business and community successes, in 2011/2012 SUKAD was recognized and ranked on the Dubai SME 100 ranking and the AllWorld Network Arabia 500 ranking.See all courses