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Construction Cost Estimating and Cost Control

Approx. 19 hours to complete

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Course Summary

This course provides an introduction to construction cost estimating, covering various topics such as quantity takeoff methods, cost estimating techniques, and project budgeting. You'll learn how to create accurate cost estimates for construction projects and gain insight into the construction industry.

Key Learning Points

Learn the basics of construction cost estimating
Understand quantity takeoff methods and cost estimating techniques
Develop skills in project budgeting and cost control

Learning Outcomes

Develop skills in cost estimating and budgeting for construction projects
Understand quantity takeoff methods and cost estimating techniques
Gain insight into the construction industry and the role of cost estimators

Prerequisites or good to have knowledge before taking this course

Basic knowledge of construction and project management concepts
Familiarity with Microsoft Excel

Course Difficulty Level

Intermediate

Course Format

Online
Self-paced

Similar Courses

Construction Project Management
Construction Scheduling
Construction Safety

Notable People in This Field

Brian Tracy
Mike Rowe
Eric Thomas

Related Books

Description

This course introduces the types of cost estimation from the conceptual design phase through the more detailed design phase of a construction project. In addition, the course highlights the importance of controlling costs and how to monitor project cash flow. Students will work on a break-even analysis of construction tasks in a project.

Outline

Construction Cost Estimating and Cost Control Overview
Introduction to Cost Estimating and Cost Control

Understanding Design in the Construction Industry
Design In The Construction Industry
Understanding Design

Introduction to the Types of Cost Estimates
Overview of the Types of Cost Estimates
Cost Indices
Cost-Capacity Factor
Cost Estimates Quiz
Cost Estimates Work Problem

Quantity Take-Off and Measurement
Measurement, Masonry, Glass Curtain Wall
Facade / Wall Finishes / Measurement Overview
Cut and Fill Process and Equipment
Cut and Fill Takeoff
Cut and Fill Software
Introduction to Deep Foundations
Concrete Foundation and Concrete Properties
Concrete Formwork
Concrete Takeoff: Parking Lot Example
Concrete Takeoff: Skyscraper Example
Quantifying rebar Walkthrough
History of Structural Steel
Steel Sections in Design
Structural Steel Takeoff Example
Quantity Take-Off and Measurement

Pricing
Cost of Materials and Formwork
Concrete Material: Reinforcing Steel and Concrete
Money Component
Productivity Component and Examples
Estimating Equipment Costs
Pricing

Building the Estimate
Estimate Classification, Methods and Formats
Design Estimate project
Schematic Design Estimate Demo
Schematic Design: A Deeper Dive
Building and Finalizing the Estimate
Checks and Due Diligence
Building the Estimate

Procurement
General Procurement: Pre-Bid Estimate and Bid Documentation
Bid Stage, Bid Returns and Levelling
Procurement

Post Contract and Cost Estimation within a Project
Cost Reporting Overview
Cost Reporting Examples
Change Orders and Communication
Post-Contract Quiz

Construction Cost Control Methods
What is Cost Control
Defining Methods of Cost Control
Cost Control

Earned Value Method (EVM)
Defining EVM
EVM Parameters
Performance Examples
EVM Favorable Performance
Calculating EVM
Earned Value Method
Work Problem EVM

Close Out Period
Close Out Punch List Review
Close Out Activities
Close Out Period

Cost Estimation in Practice
Cost Estimating in General Practice
Tips in Cost Estimating and Cost Management
Roles and Responsibilities of Cost Managers
Cost Estimation

Project Cash Flow
Cash Flow Method
Accrual Method
Contractor Cash Flow
Charting Cash Flow
Calculating Billing
Payment Cycle
Payment Cycle Drivers
Payment Cycle Delays
Schedule of Value
Accelerating Revenue
Front Loading
Delaying Expenses
Project Cash Flow

Technology Trends in Cost Estimating and Cost Control
5D Estimating Systems (BIM)
Estimating Software in Action
Workflows
Implementation Perspective
Next Steps

Program Cost Estimating
Program Cost Control
Defining the Cost of a Capital Program
Useful Tools for Cost Control
Cost Control for Large Programs

Lean in Cost Control
Money and Estimate in Capital Project Delivery
Benchmarking and Normalization Process
Lean Design: Value
Lean in Cost Control
Lean Set Based Design
Lean in Cost Control

Summary of User Reviews

Key Aspect Users Liked About This Course

The course provides practical tips and techniques that are useful in real-life construction projects.

Pros from User Reviews

The course content is comprehensive and informative.
The instructors are knowledgeable and engaging.
The course is well-structured and easy to follow.
The assignments are challenging and help reinforce the concepts learned.
The course is applicable to both beginners and experienced professionals.

Cons from User Reviews

Some users found the course to be too basic.
The course may not be suitable for those without a background in construction.
The course lacks interaction with other students.
Some users found the course to be too time-consuming.
The course does not provide a certificate of completion.

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