Cost Estimating and Scheduling of Construction Projects

Course Description

This training seminar will present the participants with straightforward approaches to developing a cost baseline and setting up a cost and schedule baseline. It will also provide participants with a proven set of methods, processes, tools and techniques to develop a systematic and dynamic project plan to ensure progressive monitoring control and reporting of project cost and schedule.

Objectives

After the training, participants should be able to:

• Understand the relationship between cost and time and describe what elements are key to project planning
• describe how a work breakdown structure is used as an input to developing a project plan
• use a work breakdown structure and define work deliverables
• describe the basis of a project schedule and the link between a work breakdown structure and a project schedule
• describe the different types of activity relationships
• explain what precedence diagramming methods are and how they can be used to understand project duration and flexibility
• use a precedence diagramming method to deliver a project schedule with durations
• define the principles behind time and cost estimation
• use estimation tools and techniques to present expected project costs and durations
• define and develop a cost budget
• use the cost estimates to structure a cost baseline
• understand a cost and schedule baseline