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Each program participant will get 1 year free individual license access to a Program Domain Specific AI System to Answer his job related queries
EST200-4
4 Week Online Instructor-Lead Professional-Level Training

Certified Estimating, Budgeting, Cost Control & Value Engineering Professional
with Domain Specific Ai Competencies

Building Professional Certification Skills & Competencies in

  1. Step by Step Estimating & Cost Control Methodologies

  2. Incorporating Quality Assured Approach in Cost Engineering

  3. Effective Review & Validation Methods for Estimating

  4. Increase Productivity & Efficiency through Organizational Estimating & Cost Control Knowledgebase

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4 Week On-Line Training
1st Monday of Month



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What is Covered in this Program?

  1. This Certified Estimating & Cost Control Professional program Provides Professional Level Skills and Help Meet Estimating & Cost Control Operational and Strategic Objectives.
  2. This program will also provide Job Related Skills and Competencies in Cost Engineering for all Estimating, Budgeting, Cost Control and Value Engineering Professionals. Participant will gain essential multi-discipline understanding, methodologies and tools for effective estimating, budgeting, cost control and value engineering on his job. The program emphasizes use of standardized methods, procedures, knowledgebase and checklists to increase productivity and effectiveness. The participant will be empowered to participate, and potentially lead, corporate effort to build supporting knowledgebases and early warning systems for problems and opportunities.
  3. The program will develop in the participant a professional performance level understanding of: the Estimating Function; Issues and Methods for obtaining Realistic Cost Estimates; Understanding Project Planning and how it Impacts Costs; Methodologies for Work Scope Development; Material Takeoff from Specifications Drawings; Applying Value Engineering Analysis to Estimating; Setting-up Cost Control Early Warning Systems; Using Computer Tools for Estimating; Sources of Estimating, Prediction and Value Engineering Information; Cost Control Early Warning Systems for detection of overruns; Assist participant develop Estimating Knowledgebase for his Section.
  4. This Program will also Build Skills and Competencies in Developing Effective Estimating & Cost Control Performance Evaluation Systems, Developing Meaningful Estimating & Cost Control Key Performance Indicators KPIs, Developing & Maintaining Updated Estimating & Cost Control SOPs, Developing Knowledge System to Support Estimating & Cost Control Effectiveness and Efficiency, Leveraging Data Analytic System for Timely & Proactive Estimating & Cost Control Data, Leveraging Artificial Intelligence System for Proactive Decision Support Insights and Recommendations for Estimating & Cost Control Professionals. This program will also provide the Certified Professional Understanding and Skills to Plan and Implement an Internal Skills and Competency Building Training, Coaching and Mentoring System for Estimating & Cost Control Professionals and Team Members.
  5. Estimating Methodology as a diligent determination of Future Costs with known risks and probabilities. This program will show: any prediction of the future is full of dangers - assumptions or scenarios are often hidden in any estimate, and if this program has is way, will be prominently displayed with any estimate submissions and evaluations.
  6. This program will enable reasonable prediction of the future costs through the understanding of the many factors that can influence future costs. To control the continued accuracy of our estimates and cost proposals, a data analysis and monitoring system can assist us develop an Early Warning Systems to warn of the changes and likely impacts. This will enable appropriate decisions to be taken before it is too late. This program will discuss the Data Analytics and Artificial Intelligence tools and methods that are becoming available to do this easily and proactively and often on real time basis. Program will recommend what Organizations need to implement in order to incorporate these aspects into the estimating process.

Who should Attend?

  1. This Professional Certification Workshop is intended for Professionals Seeking High Level Expertise in Estimating & Cost Control, including, Preparing, Analyzing, Reporting, Auditing or Approving Budgets, Estimates, Value Engineering Proposals, Change Orders/ Variation Orders, Evaluate Claims of Contractors or Additional Budget Requests and Cost Control Functions.
  2. This Program can also be used to train Estimating, Budgeting, Cost Control, Value Engineering and Project Management teams.

PROGRAM CONTENT

Certified Estimating, Budgeting, Cost Control & Value Engineering Professional
with Domain Specific Ai Competencies


  1. Business Aspects (Use, Value, Impact) of Estimating
  2. Big Picture Business Aspects of Budgeting
  3. Big Picture Business Aspects of Cost Control
  4. Big Picture Business Aspects of Value Engineering
  5. Estimating Step-by-Step Methodology
  6. Budgeting Step-by-Step Methodology
  7. Cost Control Step-by-Step Methodology
  8. Estimating, Budgeting, Cost Control

    (1) Operational Objectives
    (2) Strategic Objectives
    (3) Customers & Stakeholders
    (4) Performance Expectations
    (5) Key Performance Indicators
    (6) Data Required for Decision Making
    (7) Sources of Data
    (8) Risks and Sources of Error
    (9) Performance Dashboards
  9. Accuracy in Estimating & Budgeting
  10. Classification of Costs
  11. Updating Data to Current Relevance using

    (1) Escalation Formulas
    (2) Other Aspects Impacting Estimates & Budgets
  12. Project Proposal Preparation
  13. Preparing a Project Contract Bid
  14. Treatment of Risks & Contingencies
  15. Calculating Production Costs
  16. Impact of Contract Conditions on Estimates & Bids
  17. Good Management Process Practices while

    (1) Estimating
    (2) Budgeting
    (3) Cost Control
  18. Pre-Estimating Documents and Date Collection
  19. Breaking the Project into Deliverables (WBS)
  20. Identifying Tasks for each Deliverable
  21. Deciding between Work Methods Used - Where Alternatives Exist
  22. Estimate Work Quantities and Resource Requirements
  23. Contingencies for Known Problems & Inefficiencies
  24. Estimating Direct Costs
  25. Adjusting Direct Costs for Contingencies
  26. Estimating Site Overheads
  27. Estimating Head Office Overheads
  28. Estimating Contractual Contingencies
  29. Contractor's Contingency Allowances
  30. Owner or Client's Contingency Allowances
  31. Treatment of Profit
  32. Presenting the Estimate & Basis
  33. Alternate Estimates Plan B, Plan C, Monte Carlo Analysis
  34. Cost Control of Raw Materials
  35. Cost Control through Standardization
  36. Smart Dynamic Cost Control
  37. Impact of Project Changes, Variation Orders & Claims
  38. Reporting Cost Control Variances the New Approach

    (1) Good Cost Variances
    (2) Neutral Cost Variances
    (3) Bad Cost Overruns
  39. Early Warning Systems for Proactive Reporting Cost Performance
  40. Computer Tools for Estimating & Budgeting
  41. Impact of Contract Conditions on Estimates
  42. Good Estimating Process Practices
  43. Planning & Scheduling Decisions Impacting Estimates & Costs
  44. Useful Internal & External Data Sources for Estimating
  45. Implementing Strategic & Customer Focus for Estimating
  46. Some Best Benchmarked Practices for Estimating Management
  47. Quality Assurance in Estimating & Budgeting
  48. Quality Assurance in Cost Control
  49. Workshop 1
  50. Deeper Insights into Estimating & Cost Control for Professional Level Understanding
  51. Developing an Estimating & Cost Control Performance Evaluation System
  52. Developing Meaningful KPIs for Estimating & Cost Control Performance Reporting
  53. Workshop 2
  54. Framework for an Estimating & Cost Control Knowledge System
  55. Building an Estimating & Cost Control Knowledge System
  56. Workshop 3
  57. Leveraging an Estimating & Cost Control Data Analytic System to Support Real Time or Near Real Time Decision Support
  58. Leveraging Artificial Intelligence Methods for Proactive Estimating & Cost Control Decision Support Insights, Management Support, Decision Suggestion System & Automated Decisions
  59. Workshop 4
  60. Setting Up an Internal Estimating & Cost Control Skills & Competency Training System
  61. Building a Multi-Level Internal Estimating & Cost Control Skill & Competency Certification System
  62. Estimating & Cost Control Professional Certification Tests
  63. Certification Interview Estimating & Cost Control Professional
  64. Program Recommendations
  65. Detailed Personalized Estimating & Cost Control Improvement Action Plan

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 AI Assisted Electronic Document, eLibrary & Knowledge Management Best 1 Week Training Programs in Dubai San Francisco London New York Paris Rome Kuala Lumpur Singapore New Delhi Barcelona BerlinEST200-4 Certified Estimating, Budgeting, Cost Control & Value Engineering Professional <br>with Domain Specific Ai Competencies

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