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EST200-1
1 Week Training Program
Estimating, Budgeting, Cost Control & Value Engineering Leveraging Ai
Building Skills in
Accurate estimating and budgeting to prevent cost overruns
Effective cost control methodologies ensuring financial discipline
Value engineering for maximizing efficiency and minimizing waste
Standardized methods and knowledgebase development for consistency
Proactive early warning systems for cost overruns and budget risks
Integration of digital tools and data-driven estimating approaches
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What is Covered in this Program
Develop expertise in estimating, budgeting, cost control, and value engineering
Understand industry best practices for realistic cost estimation
Implement structured methodologies for project planning and scope development
Utilize early warning systems to identify and mitigate cost overruns
Enhance decision-making using computer tools for estimating and cost tracking
Build a corporate estimating knowledgebase for continuous improvement
Develop expertise in estimating, budgeting, cost control, and value engineering
Understand industry best practices for realistic cost estimation
Implement structured methodologies for project planning and scope development
Utilize early warning systems to identify and mitigate cost overruns
Enhance decision-making using computer tools for estimating and cost tracking
Build a corporate estimating knowledgebase for continuous improvement
Who Should Attend
Estimators, budget analysts, and cost control professionals; Project managers and financial controllers; Value engineering and procurement specialists
Auditors evaluating cost estimates and project budgets; Contractors, consultants, and claims evaluators; Corporate teams responsible for financial oversight and forecasting
Estimators, budget analysts, and cost control professionals; Project managers and financial controllers; Value engineering and procurement specialists
Auditors evaluating cost estimates and project budgets; Contractors, consultants, and claims evaluators; Corporate teams responsible for financial oversight and forecasting
Program Content & Modules
Estimating, Budgeting, Cost Control & Value Engineering Leveraging Ai
Overview of estimating, budgeting, and cost control fundamentals
Understanding cost classification and cost control challenges
Strategy & Planning Processes
Breaking projects into Work Breakdown Structures (WBS)
Identifying tasks, work methods, and alternatives for estimation
Adjusting for inefficiencies and known project risks
Operational Estimating & Cost Control Processes
Direct and indirect cost estimation techniques
Overhead calculations (site and head office)
Contingency planning for cost escalations
Performance Evaluation & Data Analytics
Proactive reporting using early warning systems
Computer tools for estimating and variance reporting
Monte Carlo analysis and alternative cost scenarios
Risk Management & Quality Assurance
Evaluating impact of contract conditions on estimates
Implementing quality assurance processes in estimating
Value engineering strategies for cost reduction and efficiency
Contingency & Continuous Improvement Processes
Developing estimating knowledgebases and prediction models
Smart and friendly cost control methods for financial optimization
Standardizing cost control reporting for decision-making
Workshops
Hands-on project estimating exercises
Implementation of value engineering analysis
Using cost control software and data analytics tools
Next Steps & Action Plan
Program recommendations and detailed personalized improvement plans
Use Cases Estimating, Budgeting, Cost Control & Value Engineering in Practice
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1 Week
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