Cost, Project and Value Engineering for Effective Project Control (European)

HRODC Postgraduate Training Institute
In Amsterdam (Netherlands), Milano (Italy) and Brussels (Belgium)

£ 20,000 - (Rs 16,32,499)
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Important information


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
Damrak 1-5, 1012, Noord Holland, Netherlands
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Brussels Hoofdstedelijk Gewest, Belgium
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Via Washington, 66 Milan, 20146, Milano, Italy
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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

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