Cost Control Training

Each participant to bring a brief description (half page maximum) of a typical cost control problem, or cost/estimating work method, that has been or is a problem, in the control of projects or work assignments. These issues will be addressed during the course.

Content:

• Reasons For Cost Creep (Group Exercise):
• A brainstorming session to identify the reasons and areas of cost escalation.
• The Foundation Stone – Defining the What  (Lecture & Group Exercises):
•   To demonstrate the use of product and work breakdown structures to describe the scope of the project and develop the basic controls.
• The Benchmark – Estimating How Much (Lecture & Case Study):
•  Intensive lecture covering aspects of estimating.
• Approaches to Estimating.
• Elements of Estimating.
• Estimate planning sequence.
• Types of Estimate.
• Make-up of an Estimate.
• Contingencies.
• Using the correct estimating technique.
• Uses of different types of estimates.
• Estimating case study describing the methods used by the various departments of a company to prepare an estimate.
• Cost – Profit – Price
• Cost Reduction (Lecture & Discussion):
•  A review of the issues involved in reducing the costs.
• Redesign, scope and specification.
• Breakdown v’s Make-up.
• Negotiating the deal.
• Pricing or costing changes.