Cost, Project and Value Engineering for Effective Project Control (Diploma-Postgraduate)

HRODC Postgraduate Training Institute
In Kuala Lumpur (Malaysia), Dubai (United Arab Emirates), Manila (Philippines) and 4 other venues

£ 20,000 - (Rs 17,58,284)
You can also call the Study Centre
50919... More

Important information

Typology Training
Start At 7 venues
Duration 20 Days
Start Flexible

Suitable for: üCost Engineers. üCost Analysts. üClaims and Changes Specialists. üConstruction Managers. üContract Management Specialists. üCost Estimators. üPlanner/Scheduler (or Scheduling Engineers). üPre-Construction Managers. üProject Controls Engineers. üProject Managers. üQuantity Surveyors

Important information

Where and when

Starts Location
Bin Ali Street, 11118, Jordan, Jordan
South Sathon Road, 10120, Bangkok, Thailand
See map
Champolion, 12421, Egypt, Egypt
See map
Coral Deira Hotel, Muraqabat Street, Deria, Dubai, 82999,, 82999, Dubai, United Arab Emirates
See map
Oxford Road, 2132, Johannesburg, South Africa
See map
See all (7)
Starts Flexible
Bin Ali Street, 11118, Jordan, Jordan
Starts Flexible
South Sathon Road, 10120, Bangkok, Thailand
See map
Starts Flexible
Champolion, 12421, Egypt, Egypt
See map
Starts Flexible
Coral Deira Hotel, Muraqabat Street, Deria, Dubai, 82999,, 82999, Dubai, United Arab Emirates
See map
Starts Flexible
Oxford Road, 2132, Johannesburg, South Africa
See map
Starts Flexible
Kuala Lumpur
Jalan Ampang Hilir, 68, Malaysia, Malaysia
See map
Starts Flexible
Makati, 1200, Philippines, Philippines
See map

Course programme

Course Contents, Concepts and Issues:

Cost Engineering: Overview

  • Objectives of Cost Engineering
  • History
  • Importance
  • The International Cost Engineering Council (ICEC)
  • Mathematics of Cost Comparisons
  • Depreciation
  • Accelerated Cost Recovery System
  • Modified Accelerated Cost Recovery System (MACRS)
  • Cost Comparisons of Unequal Durations
  • Inflation
  • The Learning Curve
  • Profitability
  • Working Capital
  • Conceptual Costing
  • Forecasting
  • Value Engineering
  • Optimisation
  • Nomenclature

Cost Accounting

  • Project Cost Accounting
  • Functions of Cost Accounting
  • Types of Costs

Estimating Cost

  • Capital Cost Estimation
  • Operating Cost Estimation

Economic Equivalence and Profitability

  • Introduction
  • Profitability Analysis
  • Depreciation
  • Economic Comparisons and Profitability: Examples
  • Lease vs. Purchase
  • Economics for Capital Projects or Replacements
  • Scheduling a Loan Payment

Cost Control and Reporting

  • Overview
  • Project Formats
  • Establishing Baselines for Control
  • Status Evaluation and Control
  • Reporting and Analysis

Cost Indexes, Escalation and Location Factors

  • Cost Indexes
  • Location Factors

Operations Research Techniques

  • Linear Programming
  • Dynamic Programming
  • Simulation

Risk Analysis

  • Concept
  • The Fourth Variable
  • The Monte Carlo Approach
  • Contingency
  • Avoiding Risk Analyst Induced Risk
  • Conducting the Risk Analysis
  • Available Risk Analysis Software

International Cost Engineering

  • Overview
  • Project Elements
  • Initiation

Computer Applications for Project Control

  • The Need for Computerization
  • Important Terms to Consider
  • Designing Project Management Systems
  • Steps in System Design and Implementation
  • Project Control Software
  • Computer-Aided Design (CAD) Applications for Project Management

Project Management

  • Defining a Project
  • Benefits of Project Management
  • What Project Management Helps You to Achieve?
  • Project Management, Organisation and Execution Conflict
  • Project Management and Control
  • Factors Determining Project Success
  • Project Constraints
  • Project Management Cost Estimating Tools
  • Project Cycle Management (PCM)

Project Life Cycle

  • Planning – Conceptualisation, Analysis, Proposal, Justification, Agreement
  • Doing – Start-Up, Execution, Completion, Hand Over
  • Checking – Review
  • Acting – Feedback
  • Development of a Project Life Cycle, Project Brief and Proposal
  • The Management of Change
  • The Systems Approach to Project Management
  • The Requirements of Successful Project Management
  • Balancing Costs and Benefits
  • Managing the Planning Process
  • Critical Incident Analysis
  • Project Control Mechanism
  • The Value Chain: Adding Value to Processes, Products and Processes
  • Project Decision-Making
  • Project Coordination: The 5 Bases of Co-Ordination
  • Developing A CATWOE Focus of Project Management
  • Why do Project Fails?
  • PERT, CPM, Arrow and Precedence Scheduling

Introducing Value Engineering

  • What is Value Engineering?
  • Value Engineering History
  • 5 Precepts of Value Engineering
  • Addressing the Problems through Value Engineering
  • Benefits of Value Engineering
  • The Reasons for Unnecessary Costs
  • When to Apply Value Engineering
  • How is Value Engineering Done?
  • Concept of Value
  • VE Methodology and Techniques
  • Variations in Cost
  • Interface with Other Programs
  • Demonstrated Impact of VE

Value Engineering Practical Applications

  • Project Scope and Budget
  • The Capitalized Income Approach to Project Budgeting (CIAPB)

Advanced Value Analysis Phases

  • Phase 1 – Information Phase
  • Phase 2 – Function Phase
  • Phase 3 – Creative Phase
  • Phase 4 – Analysis/Judicial Phase
  • Phase 5 – Recommendation
  • Phase 6 – Presentation and Implementation

Achievements for this centre

Students that were interested in this course also looked at...
See all