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Management Concepts

Project Cost Estimating

Aug 21—22, 2019
2 days
Washington, District of Columbia, United States
USD 1399
USD 699 per day
Apr 13—14, 2020
2 days
Washington, District of Columbia, United States
USD 1399
USD 699 per day
Aug 19—20, 2020
2 days
Washington, District of Columbia, United States
USD 1399
USD 699 per day

How it works

Disclaimer

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Description

Projects cannot be successful without accurate and timely project cost estimating. Estimating is a practice that occurs throughout the project management lifecycle, and so it must be done effectively and efficiently. You will understand the project areas that must be estimated and use tools and methodologies best suited for the estimates you prepare. You will be challenged through exercises where you practice using different cost estimating techniques in an experiential classroom environment.

Learning Objectives

  • Define cost estimating, cost estimating terms, and cost estimating concepts such as basis of estimate
  • Create and use a solid work breakdown structure (WBS) and resource breakdown structure (RBS) to estimate cost and work
  • Create cost estimates using different estimating techniques
  • Apply a formal process to create a cost estimate for any project

Course Topics

Cost Estimating Overview

  • Everything Has a Cost
  • Estimate
  • Roles and Responsibilities
  • Components of a Cost Estimate
  • The Value of a Solid Cost Estimate
  • The Estimating Challenge
  • Which Is Better: Overestimating or Underestimating?
  • Estimating Approaches
  • When Is Cost Estimating Performed?
  • Accuracy and Confidence
  • Managing Expectations

Getting Started

  • Cost Estimating Prerequisites

Estimating Techniques

  • Units of Measure
  • Five Estimating Techniques
  • The Techniques Compared
  • Estimating Guidelines

Finalizing the Estimate

  • Key Factors in Estimating
  • The 10-Step Estimating Process
  • Tips to Improve Estimates

Course Summary

  • Review of Course Objectives
  • Estimating
  • Basic Questions
  • WBS
  • Resource Breakdown Structure
  • Five Estimating Techniques
  • Key Factors in Estimating
  • The 10-Step Estimating Process
  • Secrets for Estimating Success
  • Course Key Messages

Who should attend

This course is intended for intermediate level program and project managers.

Next dates

Aug 21—22, 2019
2 days
Washington, District of Columbia, United States
USD 1399
USD 699 per day
Apr 13—14, 2020
2 days
Washington, District of Columbia, United States
USD 1399
USD 699 per day
Aug 19—20, 2020
2 days
Washington, District of Columbia, United States
USD 1399
USD 699 per day

How it works

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