Any successful project/program depends on the effective management of cost.
Cost Engineering is the practice of applying formal processes, procedures and techniques, systematically throughout each phase of the project, in the areas of business analysis, planning and scheduling, estimating and cost control to enable the project team to forecast EFC (Estimated final cost) and completion dates continuously during the project.
It is a specialized field focus on Engineering and Investment Projects.
The objective of this course is to provide a clear foundation and skill in cost engineering to work as Cost Engineers/Projects control engineers.
Key points of syllabus
Introduction to Types of cost estimates
Quantity take off and measurement
Pricing and building the estimate
Cost control techniques
EVM (Earned Value Management)
Estimated final cost (EFC)
Life cycle cost analysis
Duration – 30 hours