To secure the adequate funding of engineering projects in the process industries you need to accurately identify the project’s overall scope and monetary cost. Deficient conceptual estimates can cost you time and money and even threaten the viability of the project. This course covers the basics of conceptual development and capital cost estimating.
Develop timely and accurate cost estimates
In two days, you’ll learn important estimating terminology and concepts and how to perform the different types of project estimates. You’ll examine how to predict and account for equipment costs, installation factors and cost escalation. Plus, you’ll delve into the detailed cost estimating process, including methodology and mechanical estimating methods. By the end of the course, you’ll have the knowledge and skills necessary to conceptualize projects and develop timely and accurate cost estimates that positively impact all your engineering projects.
Take this course and CH140: Project Evaluation: Operating Cost Estimating and Financial Analysis by registering for CH758: Project Evaluation: Operating Cost Estimating Combo Course.
This course will be taught by one of the instructors listed below.
Learning Outcomes:
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Explain how to effectively conceptualize projects.
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Estimate cost based on project type, size, and location.
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Apply cost-estimating techniques.
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Analyze uncertainties and risks inherent in estimating cost.
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Set up the capital cost estimating process.
Who Should Attend:
Professionals involved in conceptualizing engineering projects and developing timely cost estimates. It will be of special value to decision-makers in the process industries – including:
- Plant engineers
- Project engineers
- Project managers
- Plant maintenance personnel
- Engineering managers
Day One
Part I: Cost Estimation Basics
- Estimating Terminology & Concepts
- Types of Project Estimates
Part II: Conceptual Development
- Scope Development
- Project Development
Part III: Conceptual Estimating
- Equipment Costs
- Installation Factors
- Factored Estimates
- Cost Escalation
- Scaling Methods
- Contingency Applications
Day Two
Part IV: Detailed Cost Estimating
- Project Management Costs
- Project Related Costs
- The Detailed Estimating Process
- Methodology of Detailed Estimating
- Mechanical Estimating Methods
Part V: Summary
Day One
Part I: Cost Estimation Basics
- Estimating Terminology & Concepts
- Types of Project Estimates
Part II: Conceptual Development
- Scope Development
- Project Development
Part III: Conceptual Estimating
- Equipment Costs
- Installation Factors
- Factored Estimates
- Cost Escalation
- Scaling Methods
- Contingency Applications
Day Two
Part IV: Detailed Cost Estimating
- Project Management Costs
- Project Related Costs
- The Detailed Estimating Process
- Methodology of Detailed Estimating
- Mechanical Estimating Methods
Part V: Summary
This course requres a calculator.
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