Program Objectives...

This program will build the following skills:

• How to go about preparing estimates ensuring Quality Assurance in Estimate Completeness and Accuracy?

• How to obtain Realistic Cost Estimates?

• Advanced Methodologies for Material Takeoff from Specifications Drawings and Quality Assurance Checks.

• How to ensure that these Estimates have been prepared after application of Value Engineering Analysis.

• How to Setup Estimating Cost Control Early Warning Systems.

• Effective use of Estimating Information Technology Tools - Estimating Organizing and Historical Cost Database System Development.

• The Sources of Estimating, Prediction and Value Engineering Information (including that available on the internet) and How to Interpret them to be relevant to your organizations estimating needs.

Who Should Attend?

Professionals with responsibility to Estimate, Review Estimate, Approve Project Budgets, Evaluate Proposals and Variation Orders and Control Costs. These will include Estimators, Managers, Engineers, Cost Engineers, Planning Engineers, Work Administrators, Project Supervisors, Project Managers, Management Consultants, Management Auditors, Cost Controllers etc..

Euro Training Credentials…

Euro Training Ltd has been providing world-wide training in Practical Estimating and Cost Control for the last 15 years. The Gulf participants list for Euro Training programs includes most of the Oil Companies, Ministries, Major Consultants, Contractors and Business Groups – References available on request.

About this Program…

Estimates are determinations of Future Costs. Any prediction of the future is full of dangers - assumptions or scenarios form hidden backbones of any estimate. For reasonable prediction of the future an understanding of the behaviour of a number of "present indicators of likely future costs" is essential. To control the accuracy of our estimates an analysis and monitoring of these "indicators" can assist us develop Early Warning Systems - so appropriate decisions can be taken before it is too late.

In this age of information the Estimating professional can have access to a number of sources of information to assist him obtain realistic estimates –but the problem of relevance or applicability of the data to your organization needs to be sorted out. All these methodologies and more will be discussed in this program.

Why is Value Engineering Important in Estimating Study?

It is cost-effectiveness. It is doing away with waste of resources. This is what management is looking for in this increasing globalized and competitive marketplace. Value engineering, is the systematic analysis of the functions of a program, project, system, product, item of equipment, building, facility, service, or supply, performed by qualified personnel or contractor personnel, directed at improving performance, reliability, quality, safety, and life-cycle costs.

Program Style

The Program extensively relies on Quality Assurance Checklists and Case-Study Approach to Estimating. Program emphasis is on practical skills required by the job function. Management based on facts is emphasized – in place of based on "feelings". Discussion, implementation and case studies will be based on actual conditions prevailing in the area where the program is being held.

PROGRAM CONTENT

PROGRAM AGENDA

(Subject to Customarization by Program Director based on Participant Group)

(Program Timings 8:30 AM to 2:30 PM)

Day 1

• Registration

• Program Introduction

• Program Overview

• Estimating & Value Engineering Problems

Day 2

• Bidding & Negotiation Issues

• Understanding "Value" for your Organization

• Understanding "Value" for your Customer

• Impact of Contract Conditions on Estimates

• Good Practices in Estimating (Quality Assurance)

Day 4

       Value Engineered...

• Work Scope & Objectives: Physical, Documentation & Strategic

• Planning & Scheduling

 Day 5

• Value Engineered Estimating Methodology

Day 6

• Computer Tools for Estimating

• Value Engineering Implementation Step-by-Step Methodology

• Quality Assurance in Estimating

Day 7

• Understanding Strategic & Customer Focus for Estimating Function

• Good Practices for Estimating Management

Day 8

• Best Practices for Estimating Management

• Program Recommendations and Your Action Plan

Day 9 (Workshop)

• Hands on Preparing an Estimate for a Project using Checklists & Forms

  • Feasibility Project

  • Design Project

  • Construction Project

Day 10 (Workshop)

• Hands on Value Engineering Analysis for a Project.

For Latest Program Schedule Email:

    est201@EuroTraining.com