Construction Cost Estimating and Management

Course Overview

What does this course tell?
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Hi, and welcome to this short course on construction cost management. This course teaches the fundamental construction management skills used to ensure projects finish under budget. The course is designed for engineers, quantity surveyors, and construction management professionals looking to further develop their learning. It's loaded with engaging lectures, quizzes, and practice activities that reflect the type of work you'll be required to do on real-world construction projects. The course is broken down into three sections; the introduction cost estimating and cost management. In the introduction, we cover the basics of construction cost management including what it is, why it's important, and the overall process on a project. We relate this back to the life cycle of a construction project so you can see where these skills are put into action.Section 2 of the course focuses on cost estimating. Estimating is the tool used to accurately quantify construction costs. We'll teach you exactly how to work out how much a construction project will cost to deliver. We cover an introduction to estimating, developing a pricing model, quantity take-offs, estimating direct and indirect costs, the final estimate review process, and submitting our estimate to the client.Section 3 focuses on cost management and control. This section will teach you how to monitor and control construction costs during project delivery. We'll teach you how to calculate all the key metrics used to determine how we are progressing compared to our budget. We cover the fundamental project management concept of earned value management, how to set up a budget, and how to monitor and track costs to identify and flag budget issues early.Hopefully, this course has something in it for you and you find it useful. If you have any questions, please get in contact and I'll answer as soon as possible! Enjoy!

We considered the value of this course from many aspects, and finally summarized it for you from two aspects: skills and knowledge, and the people who benefit from it:
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What skills and knowledge will you acquire during this course?
During this course on Construction Cost Estimating and Management, learners will acquire the following skills and knowledge:
1. Understanding of construction cost management: Learners will gain a comprehensive understanding of what construction cost management is, why it is important, and how it fits into the overall project life cycle.
2. Cost estimating: Learners will learn the techniques and methods used to accurately estimate construction costs. This includes developing a pricing model, conducting quantity take-offs, estimating direct and indirect costs, and reviewing the final estimate before submission to the client.
3. Cost management and control: Learners will acquire the skills to monitor and control construction costs throughout the project delivery process. This includes learning how to calculate key metrics to track progress against the budget, implementing earned value management techniques, setting up a budget, and identifying and addressing budget issues early on.
4. Project management concepts: Learners will gain a fundamental understanding of project management concepts, specifically related to cost management. This includes learning how to track and monitor costs, as well as how to identify and flag potential budget issues.
Who will benefit from this course?
This course on construction cost estimating and management will benefit engineers, quantity surveyors, and construction management professionals. It is designed for individuals who are looking to further develop their skills in construction management and ensure that projects finish under budget. The course provides engaging lectures, quizzes, and practice activities that reflect real-world construction projects.
Specifically, engineers will benefit from this course as it teaches them the fundamental skills needed to accurately quantify construction costs and effectively manage and control costs during project delivery. Quantity surveyors will also find this course valuable as it covers topics such as developing a pricing model, quantity take-offs, and estimating direct and indirect costs. Construction management professionals will benefit from the course as it focuses on key project management concepts such as earned value management, budget setup, and cost monitoring and tracking.