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Cost Estimation - Basic course
Rating: 4.0 out of 5(147 ratings)
851 students

Cost Estimation - Basic course

Construction Projects - Breakdowon and Analyze construction items for Cost estimation
Created byAhmed Said Refaei
Last updated 3/2020
English

What you'll learn

  • 1- Select the appropriate cost estimation methodology.
  • 2- Prepare and collect data required for cost estimating any item.
  • 3- Use the best cost estimation form.
  • 4- Normalize and describe items and packages breakdown Based on historical data and experience.
  • 5- Build a cost estimation procedures
  • 6- Build your site observations, productivity, material wastage and cost data base.
  • 7- How to quote items and analyze quotations.
  • 8- Negotiate prices with suppliers and sub-contractors

Course content

2 sections • 19 lectures • 3h 2m total length

  • Introduction4:54

    Introduction and lecturer name

  • Chapter 1 - Cost estimation definitions13:27

    An Introduction and definitions.

  • Chapter 2 - Parametric cost estimation methodology6:29

    Select the most appropriate cost estimating methodology (or combination of methodologies) for the data available to develop a high-quality cost estimate.

  • Chapter 2 - Analogy cost estimation methodology7:05

    The most appropriate methodology at initial stages (Feasibility and design phases) lectures include cases study  and examples with more than one tool.

  • Chapter 2 - case study for Analogy cost estimation methodology6:36

    More cases & solved example for analogy cost estimation

  • Chapter 2 - Engineering Build-up Cost estimation methodology9:26

    Bottom-Up or Engineering Build-Up is the common methodology.

    Also a form used for detailed cost estimation for highly proficient engineers.

  • Chapter 3 - Cost Estimation Life cycle - Accuracy7:17

    Cost estimation passes through the duration of work and projects with accurate changes and difficulties affecting decision-making. It is very important that are given very high attention during all stages of project life

  • Chapter 3 - How to build a cost breakdown structure8:18

    You will learn how to build Cost Break down structure and mapping with WBS and RBS

  • Chapter 3 - Factor influence cost estimation and difficulties11:22

    what you have to consider during estimating cost (difficulties and factors influence cost estimation and risk level)

  • chapter 4 - Cost Estimation Processes - Tasks related to project definitions 1/27:53

    As a Cost estimators you will learn how to define item scope of work and breakdown it into a detailed component.

  • chapter 4 - Cost Estimation Processes - Tasks related to project definitions 2/28:08

    what is the WBS dictionary - As a Cost estimators you will learn how to define item scope of work and breakdown it into a detailed component.

  • chapter 4 - Cost Estimation Processes - Tasks related to Methodology 1/29:02

    You will learn what tasks related to choosing appropriate methodology.

    What is the GR&A (ground rules and assumption).

  • chapter 4 - Cost Estimation Processes - Tasks related to Methodology 2/29:09

    • You will learn how to use cost estimating form and break up items.

    • You will learn how to gather data required for cost estimating and classify it.


  • chapter 4 - Cost Estimation Processes - Tasks related to Estimating cost7:00

    You will learn :

    • Cost estimation steps

    • How to organize your document.

    • How to present your work and for whom.

    • Update data and estimation.

  • chapter 4 - Cost Estimation Processes - Estimator job9:13

    You will know about Cost estimator:

    • Responsibility

    • Job

    • Skills required.

    And you will learn what data you have to collect during project site visit.

  • Chapter 5 - Case study 1/211:05

    with Case study you learn:

    • how to normalize and extract data from item description, drawing and specs.

    • How to collect equipment rate and labor wages.

    • How to calculate consumption and wastage.

    • How to fill data in estimation form.

  • chapter 5 - Case Study 2/216:20

    with Case study you learn:

    • how to normalize extract data from item description, drawing and specs.

    • How to collect equipment rate and labor wages.

    • How to calculate consumption and wastage.

    • How to fill data in estimation form.

Requirements

  • No requirements

Description

Cost Estimation is very important process in construction.

This course construction cost estimation is a proficient especially for engineers and student and all related to construction work.

This course is experience in field for the cost estimation and control.

this course gives you the main core of cost estimation you can apply for any item (Civil, Architectural and MEP)

With this course and case study you will learn and be able to:

  1. Identify and define detailed scope of each construction Items.

  2. Select appropriate methodology as the availability of data and project phase.

  3. Prepare data required to estimate items.

  4. How to breakdown items.

  5. How to analyze items.

  6. Normalize and describe items and packages breakdown Based on historical data and experience.

  7. Use the best templates and forms in cost estimate.

  8. Extract equipment's rates and labor wages from finance data.

  9. Build a cost estimation procedures.

  10. Build your site observations, productivity, material wastage and cost data base.

  11. How to quote items and analyze quotations.

  12. Negotiate prices with suppliers and sub-contractors.

  13. You will learn about cost life cycle.

  14. You will learn about cost methodologies.

  15. with some solved examples you will learn about:
    - Cost elements (Material, labor and other expenses).
    -Cost categories (all item components).

  16. Examples like:
    -Filling
    -Painting
    -Slab

Who this course is for:

  • Engineers
  • Engineering students
  • Project mangers
  • Cost Estimators
  • Cost control engineers
  • Quantity surveyors
  • Contractors
  • Construction supervisor
  • site managers
  • site engineers
  • Procurement Engineers
  • Civil Engineers
  • Architectural Engineers

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