Cost Engineering Intensive
Cost engineering is the art of assigning value to that which has been or will be engineered.
- Level
- Intermediate
- Type
- Classroom
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About Training
Cost engineering is the art of assigning value to that which has been or will be engineered. One key objective of cost engineering is to arrive at accurate cost estimates and schedules and to avoid cost overruns and schedule slips. Cost engineering goes beyond preparing cost estimates and schedules by supporting assessment and decision making. "The discipline of ‘cost engineering’ can be considered to encompass a wide range of cost-related aspects of engineering and programme management, but in particular cost estimating, cost analysis/cost assessment, design-to-cost, schedule analysis/planning and risk assessment."
The first day will provide basic understanding of definitions of cost estimations, cost control and planning. The participants will be able to read cost engineering reports and put in the perspective of the project. Second day, will provide knowledge to prepare and evaluate estimates quicker and more accurately. This will immediately have its effect on the control you have on the cost of your project. After Day Three, you will be able to make your own factor estimates and validate factor estimates prepared by others. At the end of this course, the trainer will give comprehensive insight on how to identify major cost risks of engineering.
This course will help you keep the cost down for your engineering phases, but as a result you can also prevent budget overruns. A number of cases will be presented during the course to make it more practical and allow you to apply the principles you have learned.
Training Objectives
- Develop a sound understanding of the role of cost engineer in an organization
- Understand the definitions and the ties between cost estimation, cost control and planning
- Gain a more in-depth knowledge of various contract forms
- Knowledge of estimating in each phase of the lifecycle of a project
- Obtain a more comprehensive insight of estimating methodologies
- Practice extensively during the training through cases in preparing estimates using various techniques
- Find out how to prepare and evaluate estimates quicker and more accurately
- Learn to make your own factor estimates and validate factor estimates prepared by others
- Identify major cost risks of engineering
Audiences
The course is designed for and will benefit Cost Engineers, Cost Estimators, Cost Controllers, Project Managers, Project Engineers, Project Planners, Discipline leads, Finance Managers & Executives and all who are involved in technical projects, cost estimation, cost control and planning and contract review in their organizations.
Instructor
Ko des Bouvrie
Ko des Bouvrie is the Technical Director of Cost Engineering B.V. He has more than 20 years of cost engineering experience in consulting various heavy industries such as oil and gas, petrochemical, mining & minerals, chemical, construction, pharmaceutical, government and heavy industry among others.
Ko started his career in Engineering at Badger, He worked at AMEC as a coordinator for several principals, such as Shell The Hague, DSM Delft and NAM, specializing in cost engineering. He is also involved with all maintenance, activities concerning cost engineering and arbitration business. Since 1992, he has been a member of NAP/DACE and also a member of AACEI, AcostE and different special interest groups related to cost engineering. He teaches cost engineering at the Cost Engineering Academy and has spoken at various international conferences in the related field.
Cost Engineering B.V. was founded in 1996 as an independent cost engineering company, integrating a unique combination of technical engineering and costing techniques in their advice to their clients. Ko and his team has been actively involved in several projects which have been executed by Cost Engineering such as asset verification for a large refinery built between the fifties and now for a total value of 9 billion Euros. He was also responsible for various cost engineering projects in partnership with a number of large and smaller engineering firms for projects ranging from millions up to over a billion Euros. Apart from consulting, the company also has a Cost Engineering Academy that provides training of various levels to those with specific responsibility for cost estimation, cost control and planning in their organizations. Cost Engineering Consultancy has also developed their own multi disciplinary estimating system called Cleopatra Enterprise. Currently, Cleopatra Enterprise is used in several different continents.
Daily Aims
Day One
- Understanding the role of a cost engineer in an organisation
- Understanding the basic definitions of cost estimation, cost control and planning
- Understanding the ties between cost estimation, cost control and planning
- Understanding various contract forms
- Understanding the position of estimating in each phase of the lifecycle of a project
- Understanding the definitions within estimating
- Understanding value Engineering
Day Two
- Estimating methods
- Cases in preparing estimates by using various techniques for the following disciplines
Day Three
- Factor estimating methods
- What determines accuracy?
- Quantitative estimating method
- Estimating of equipment
Day Four
- Estimating of engineering
- Engineering effort in engineering phases
- Methods of estimating engineering
- Detailed approach per discipline; based on identified activities and deliverables
- Each case will focus on applying the different methods for each phase
Training Schedule
| Code | Start Date | End Date | Locations | Cost | Instructor |
|---|---|---|---|---|---|
| PST0297-201401 | Bali, Indonesia | SGD 4,995 | Ko des Bouvrie |
Why Choose This Training
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