Cost Estimating
About This Course
Cost estimation for contract managers and project managers is a critical yet challenging responsibility.
Leex’s Cost Estimating program will provide insights on the processes, concepts and methods of cost estimation, based on best practices, and the “GAO Cost Estimation and Analysis Guide.”
Participants learn the step-by-step process for developing accurate and realistic project cost estimates that can withstand customer and management review and serve as a basis for tight financial control. Furthermore, participants will also learn how risk and uncertainties need to be taken into account in their estimation, provided range estimates and managed over the whole project lifecycle.
Learning Objectives
Ensure that the cost estimation process runs smoothly throughout the project lifecycle.
Includes risk and instability in estimations
Understand the process of cost estimation
Understand the cost risk
Requirements
- For a smooth learning experience (Online Courses), participants must have basic computer skills and a computer with a reliable Internet connection and speakers.
- Participants are expected to have a basic knowledge of procurement practices in the public or private sector and a solid command of the English language.
Target Audience
- Managers
- Supervisors
- Project Managers
- Contracting personnel
- Finance Professionals
- Those who are interested in the field
Curriculum
Section One: Overview of Cost Estimating
The significance of the cost estimating process
Cost estimates in project management vs. acquisition
Challenges faced by cost estimators
Characteristics of a credible cost estimate
Types of cost estimates
Section Two: The Cost Estimating Process
Section Three: Estimating Methodologies
Section Four: Cost Risk, Uncertainty, Validating And Documenting The Estimate
Section Five: Linking the Credible Cost Estimate to the EVM System
Free
Material Includes
- Delegates who successfully complete this training course will be awarded a LEEX Certificate of Completion.
- Course Slides
- Additional Materials (Case study, etc.)
