How to Make Accurate Building Cost Estimates: A Guide for Managers (Document)
Course objectives and contents
The general objective of this course is to explain the fundamentals of cost estimation to engineers, managers, and professionals involved in the construction industry. At the conclusion of the course, the professional should be able to develop a critical opinion and contribute to discussions related to cost estimation and cost engineering. The following key questions will be covered.
Understanding Cost Estimation: What constitutes cost estimation, and what skill sets are essential for proficient cost estimators?
Steps in Cost Estimation Development: Which sequential steps are necessary to formulate a comprehensive cost estimate?
Falsification Criteria for Cost Estimates: What criteria are utilized to assess the validity and accuracy of a cost estimate?
Post-Estimate Actions: What actionable steps should be taken subsequent to the development of a cost estimate?
Project Delivery Methodologies: How can one differentiate between the various project delivery methods commonly employed in the construction industry?
Example of Cost Estimate Development: Can participants review a practical example illustrating the process of generating both a high-level and preliminary cost estimate
Course materials and resources
This course is comprised of four components:
50-page Course Notes: These notes are designed to assist you in recalling and revisiting the topics covered during the lecture.
Video Presentations: These presentations are conducted by the facilitator, who will elucidate the course's theoretical concepts.
Case Study Video Presentation: In this session, the facilitator will delve into a case study, guiding you through the development of both a high-level and preliminary cost estimate.
Course Test: This test consists of multiple-choice questions, providing you with an opportunity to evaluate your learning progress.
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