Learn Estimating & Cost Control

Develop a good practical understanding of best practice estimating and cost control on building & construction Projects
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  • Lectures 11
  • Contents Video: 2 hours
    Other: 36 mins
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 7/2013 English

Course Description

This course has been designed for business owners and anyone involved in project management, and will be of particular interest to Estimators, Builders, Engineers, Construction and Project Managers, Project Coordinators and Site and Works Managers or those intending to be involved in the area of estimating or controlling costs on projects. It is the introductory course to the ASQA Unit of Competency Manage Project Costs BSBPMG504A - which is part of the Diploma of Project Management BSB51413. Contact us at Exner Education if you are interesting in the Unit of Competency or full Diploma Course.

Please note that this course is priced in US dollars.

What are the requirements?

  • Basic understanding of Budgeting
  • Basic understanding of construction projects

What am I going to get from this course?

  • Understand the Sensitivity of estimates
  • Basic spreadsheet based estimating
  • Types of resources used in projects
  • Cost estimating techniques
  • Establishing cost budgets
  • Revision of cost budgets
  • Identifying cost control requirements
  • Effective cost control techniques
  • Reporting cost performance progress
  • Early identification of deviation from cost budget

What is the target audience?

  • Business Managers
  • Project Managers
  • Planners
  • Site Managers
  • Builders
  • Engineers
  • Construction Managers

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction
07:30

Here are some guidelines to studying this course on estimating and cost control.

Full course notes - Estimating and Cost Control
33 pages
3 pages
Before commencing this course, you need to gain an understanding of Work Break Down Structures (WBS) by reading this explanation
Section 2: Estimating and Developing a Tender Estimate
13:26
This video provides an overview of understanding estimating techniques for a building and construction project.

We explain the following:
  • Why project estimating is essential to construction management
  • Understanding the sensitivities of estimates

  • What are the various acceptable cost estimating techniques
  • What is meant by project resources
  • An explanation of project direct costs
  • An explanation of project indirect costs
  • How to calculate a tender estimate - using a simple formular
  • Using spreadsheets to assist in the calculation
  • What is a "Bill of Quantities" and how is it used



12:14

Watch this videa on Developing a Tender Estimate and then download the additional material including the Self Assessment Task 1.

Section 3: Budgeting for costs and review practices
12:29
This video explains the importance of project budgets and how a Work Breakdown Structure is used to create budgets.  We provide explanations on:

  • The definition of a Work Breakdown Structure (WBS)
  • Best practice rules for creating a WBS
  • How to establish a cost budget
  • What is included in a good cost budget
  • The 4 steps to preparing a cost budget
    1. Review the initial project estimate
    2. Allocate direct costs to various activities
    3. Sum up direct costs in WBS
    4. Allocate indirect costs
  • What are overhead costs
  • The use of estimating packages
  • How to revise budgets
  • Developing a tender estimate 

Revision of Cost Budgets
09:50
Section 4: Module 3 - Cost Control & Forecasting
14:29
This video explains the requirements of good cost control on a building and construction project and how the project cost control system should be used to manage costs. We cover in detail the following:

  • Identifying cost control requirements on your project - what tasks are involved
  • The importance of controlling project costs
  • How to manage costs during the project
  • The processes of controlling costs 
  • Looking at forecasting of key project activities 
  • Looking at forecasting categories - 
    1. Budgeted costs
    2. Estimated Total Cost
    3. Cost Committed
    4. Cost Exposure
    5. Cost to date
    6. Over or Under Cost Amount
  • Estimating the total time to complete an activity
  • Comparing % of work completed against Expenditure on an activity
  • Reporting cost performance Progress

Forecasting for Activity Cost control
12:02
Section 5: Variance from Cost Budgets and Administrative Controls
Variance from Cost Budgets
13:08
10:05

Watch the video on Establishing Administrative Controls and then download the two documents for the Self Learning task and complete the task.

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Instructor Biography

Exner Education, Project Management for Building and Construction

Exner is an integrated education and consulting firm with over 25 years of experience providing an extensive range of professional management services to the construction industry. Our hands-on experience includes design and construction, expert claims quantification and management, project management, business systems consulting, value for money models, safety in design and risk management systems.

Exner Education is an ASQA registered RTO and is the training development and delivery branch of Exner. From its practical experience and knowledge Exner Education has designed, developed and delivered construction specific training over the past 15 years. Exner Education provides a 'hands on' practical approach to training, developed and delivered by people who have real current practical experience in the field and are qualified VET sector trainers. This gives Exner a unique ability to balance both theoretical teaching knowledge complemented with current 'best practice' work examples.

Our Training & Education experience includes the instructional design of training ranging from:

· safety and site compliance;

· project management including from tender preparation, claims management to project close out;

· engineering practices; and,

· corporate improvement strategies.

Exner Education has designed, developed and delivered training for both large and small companies as well as government authorities including, Leighton Contractors, Pro-Build, Grocon, Schiavello, MBAV, HIA, VMIA, Nicholson Construction, Johns Lyng, APM Group, Victorian Managed Insurance Authority, VicRoads, Department of Treasury and Finance and Victorian Catchment Management Authority.

Exner continues to develop its online learning 'experience' and provides a unique interactive delivery methodology which gives students world first teaching tools, combining Exner's practical construction knowledge with core theory to further enhance the students learning experience.

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