CONSTRUCTION COST ESTIMATING AND COST CONTROL

This DIXONTECH course provides a comprehensive foundation in Construction Cost Estimating and Cost Control, focusing on the financial and managerial aspects of construction projects. Participants will learn modern techniques for estimating costs, preparing budgets, and applying cost control mechanisms to ensure project profitability and efficiency. The program aligns with global best practices and construction industry standards to enhance financial management in project delivery.

TRAINING TOPICS

• Fundamentals of Construction Cost Estimating
• Cost Classification and Estimation Techniques
• Budgeting, Forecasting, and Cost Planning
• Cost Control, Monitoring, and Reporting Tools
• Value Engineering and Risk Based Estimating
• Construction Financial Management and KPIs

BY THE END OF THIS TRAINING COURSE, DELEGATES WILL BE ABLE TO:

• Prepare accurate and detailed cost estimates
• Develop and manage project budgets effectively
• Implement robust cost control strategies
• Use performance indicators to track progress
• Apply value engineering to reduce costs
• Improve decision making through cost analysis

TRAINING IS TAILORED TO:

• Project and construction managers
• Cost estimators and quantity surveyors
• Engineers and procurement officers
• Construction finance professionals
• Site and project accountants
• Planning and control specialists

TRAINING METHODOLOGY

This program integrates interactive lectures, practical workshops, and real world case studies. Participants will use cost estimation templates, budgeting tools, and simulation exercises to develop practical experience. The DIXONTECH methodology ensures both theoretical understanding and applied competence for achieving financial control in construction projects.

DAY 1

INTRODUCTION TO CONSTRUCTION COST ESTIMATING

• Role and importance of cost estimation in construction
• Key cost components and project cost structure
• Types of estimates: conceptual, preliminary, detailed
• Factors affecting cost accuracy and reliability
• Common challenges in estimating construction projects
• Overview of cost estimation standards and guidelines

DAY 2

ESTIMATION TECHNIQUES AND COST DATA MANAGEMENT

• Quantitative and qualitative estimating methods
• Unit rate, parametric, and analogous estimating models
• Building cost databases and historical benchmarks
• Material, labor, and equipment cost analysis
• Productivity rates and resource cost allocation
• Software applications in cost estimation (Excel, BIM 5D)

DAY 3

COST PLANNING, BUDGETING, AND FORECASTING

• Establishing baseline budgets and cost breakdown structures
• Linking cost plans with project schedules (Earned Value)
• Cost forecasting and trend analysis
• Contingency planning and cost allowances
• Budget approval and change management procedures
• Monitoring cost performance during project execution

DAY 4

COST CONTROL AND PERFORMANCE MONITORING

• Implementing cost control systems and workflows
• Key cost indicators (CPI, SPI, variance analysis)
• Financial reporting and control dashboards
• Managing cost deviations and corrective actions
• Integration with project management systems
• Case studies: successful cost control frameworks

DAY 5

VALUE ENGINEERING AND RISK BASED COST MANAGEMENT

• Principles and stages of value engineering
• Identifying cost saving opportunities in design
• Risk identification and quantification in cost planning
• Applying probabilistic methods and Monte Carlo analysis
• Optimizing lifecycle costs and long term value
• Final assessment and cost improvement workshop