Construction Cost Estimating and Cost Control
This course provides an overview of the stages of design in a construction project, as well as the types of cost estimation and cost control tools and methods. Professor Odeh will guide learners through the topics of project cash flow and break-even analysis of construction tasks. This course is designed to give learners an understanding of construction cost estimating and cost control. ▼
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Course Feature
Cost:
Free
Provider:
Coursera
Certificate:
Paid Certification
Language:
English
Start Date:
17th Jul, 2023
Course Overview
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Updated in [March 06th, 2023]
In this course, Construction Cost Estimating and Cost Control, Professor Odeh will provide an overview of the stages of design in a construction project and the types of cost estimates used. Learners will explore the tools and methods used to create estimates, as well as the importance of controlling costs and how to monitor project cash flow. Additionally, learners will work on a break-even analysis of construction tasks in a project. By the end of the course, learners will have acquired the fundamentals of cost estimation and cost control, and will understand the close out period of the project.
[Applications]
Upon completion of this course, learners can apply the knowledge gained to create cost estimates for construction projects, monitor project cash flow, and control costs. They can also use the Earned Value Method to track project performance and progress. Additionally, learners can use the knowledge gained to understand the close out period of a project and the tasks associated with it.
[Career Paths]
1. Construction Cost Estimator: Construction cost estimators are responsible for preparing cost estimates for construction projects. They use their knowledge of construction materials, labor costs, and other factors to create accurate estimates. They must also be able to analyze and interpret blueprints and other documents related to the project. As the construction industry continues to grow, the demand for construction cost estimators is expected to increase.
2. Construction Project Manager: Construction project managers are responsible for overseeing the entire construction process from start to finish. They must be able to manage budgets, coordinate with subcontractors, and ensure that the project is completed on time and within budget. As the construction industry continues to grow, the demand for construction project managers is expected to increase.
3. Construction Cost Analyst: Construction cost analysts are responsible for analyzing the costs associated with construction projects. They must be able to analyze and interpret data related to the project, such as labor costs, materials costs, and other costs. They must also be able to identify areas where costs can be reduced and suggest ways to improve the efficiency of the project. As the construction industry continues to grow, the demand for construction cost analysts is expected to increase.
4. Construction Cost Controller: Construction cost controllers are responsible for monitoring and controlling the costs associated with construction projects. They must be able to analyze and interpret data related to the project, such as labor costs, materials costs, and other costs. They must also be able to identify areas where costs can be reduced and suggest ways to improve the efficiency of the project. As the construction industry continues to grow, the demand for construction cost controllers is expected to increase.
[Education Paths]
1. Bachelor of Science in Construction Management: This degree program provides students with the knowledge and skills needed to manage construction projects from start to finish. Students learn about the principles of construction management, including project planning, budgeting, scheduling, and risk management. They also gain an understanding of the legal and ethical aspects of the construction industry. This degree is becoming increasingly popular as the construction industry continues to grow.
2. Master of Science in Construction Engineering: This degree program focuses on the engineering aspects of construction projects. Students learn about the design and analysis of structures, materials, and systems used in construction. They also gain an understanding of the principles of construction engineering, such as project management, cost estimation, and safety. This degree is becoming increasingly popular as the construction industry continues to grow.
3. Master of Science in Construction Management: This degree program provides students with the knowledge and skills needed to manage construction projects from start to finish. Students learn about the principles of construction management, including project planning, budgeting, scheduling, and risk management. They also gain an understanding of the legal and ethical aspects of the construction industry. This degree is becoming increasingly popular as the construction industry continues to grow.
4. Doctor of Philosophy in Construction Management: This degree program provides students with the advanced knowledge and skills needed to manage complex construction projects. Students learn about the principles of construction management, including project planning, budgeting, scheduling, and risk management. They also gain an understanding of the legal and ethical aspects of the construction industry. This degree is becoming increasingly popular as the construction industry continues to grow.
Course Syllabus
Construction Cost Estimating and Cost Control Overview
Professor Odeh describes the course and provides an overview of what will be covered. Also covered is an introduction to Construction Cost Estimating and Cost Controls.Understanding Design in the Construction Industry
Ian Taylor, project manager for Turner and Townsend, introduces the stages of design in a construction project.Introduction to the Types of Cost Estimates
Professor Odeh describes the types of cost estimates in a construction project. Also covered in this module are the tools and methods used to create estimates.Quantity Take-Off and Measurement
James Sneath, Associate Director of Cost Management for Turner and Townsend, and Ian Taylor, Project Manager for Turner and Townsend, discuss Quantity Take Off and Measurement. Estimating cut and fill costs is taught along with a detailed example of using cut and fill software. Also covered in this module is the topic of deep foundations, concrete foundations and structural steel, measurement, masonry, glass curtain wall, facade and wall finishes.Pricing
James Sneath, Associate Director of Cost Management for Turner and Townsend, discusses pricing, labor costs and equipment costs. Topics include, cost materials, formwork, reinforcing steel and concrete. Money component and productivity component is discussed in labor costs, as well as estimating equipment costs.Building the Estimate
James Sneath, Associate Director of Cost Management at Turner and Townsend, Inc., illustrates how to build an estimate. Sneath does a deep dive into a schematic design project.Procurement
James Sneath, Associate Director of Cost Management for Turner and Townsend, discussed the procurement stage of a construction projects and they typical involvement of a cost manager or cost estimator.Post Contract and Cost Estimation within a Project
James Sneath, Associate Director of Cost Management for Turner and Townsend Construction, discusses post contract and cost estimation with a construction project. Also covered in this module are cost reporting, change orders and communication and meetings.Construction Cost Control Methods
Professor Odeh introduces construction cost control and the work segments contained in a project.Earned Value Method (EVM)
In this module, Professor Odeh goes deeper into the Earned Value Method of Cost Control.Close Out Period
Ian Taylor, Project Manager at Turner and Townsend, Inc., introduces cost management close out and punch-list review.Cost Estimation in Practice
James Sneath, Associate Director of Cost Management at Turner and Townsend, Inc., talks about cost estimation in general practice. The unit starts with tips in cost estimating and cost management and ends with a discussion of the international roles of cost managers.Project Cash Flow
Ben Miller, Project Manager at Gilbane Building Company, discusses contracts and cash flows. Revenues, expenses and how they impact projects as a whole will be covered.Technology Trends in Cost Estimating and Cost Control
Kevin Labrecque, Senior Vice President at Harper Limbach LLC discusses technology trends in cost estimating and cost control. Topics include 5D Estimating Systems (BIM), estimating software, technology workflows, and implementation.Program Cost Estimating
Christopher Toomey, Senior Vice President at AECOM Global Programs, discusses cost control for large programs.Lean in Cost Control
Sam Spata, Owner of Method Lean, presents this module on Lean In Cost Control.Pros & Cons
Substantial and important information
Practical and close to reality examples
Valuable information
Great practical knowledge
Helpful for graduates
Unclear questions in quizzes
Poorly written assignments
Lecture and assignment mismatch
No feedback from instructor
Peer review assignment not effective
Course Provider
Provider Coursera's Stats at AZClass
Construction Cost Estimating and Cost Control provides an overview of the design phases of construction projects, as well as types of cost estimating and cost control tools and methods. Prof. Odeh will guide students through the topics of project cash flow and construction task break-even analysis. This course will give learners a comprehensive understanding of construction cost estimating and cost control. Learners will learn about the design phases of construction projects, types of cost estimates, and the tools and methods used to create estimates. They will also study cost control and cost containment methods, with an emphasis on the Earned Value Method, or EVM. Finally, learners will analyze the break-even analysis of the construction tasks in the project and understand the closure period of the project.
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