Web Toolbar by Wibiya

  • Successful Project Cost Estimation & Control

Date Duration Location  
06-Dec-11 4 days Kuala Lumpur, Malaysia -



Designed for
Cost control managers, controller, estimators, engineers as well as project directors, heads, managers and quantitative surveyors plus technical personnel that manage, perform, or participate in project scope development, project execution, project cost estimation, project cost control, and project capital expenditure investment.
 
 
 
You will learn how to
  • Drive a consistent and effective process across the execution of all projects then improve the results of the entire portfolio of projects
  • Understand the AACE International best practices framework for Cost Engineering known as Total Cost Management (TCM)
  • Capitalize on TCM cost engineering practices to increase your cost estimation and project control accuracy and effectiveness 
  • Apply TCM cost engineering practices to increase your cost estimation and project control accuracy and effectiveness
  • Implement organizational leadership for TCM within your work environment 
  • Gain more in-depth knowledge of cost engineering estimation and control terminology 
  • Understand the different requirements for estimating throughout the project life cycle 
  • Obtain a comprehensive understanding of estimating methodologies used throughout the project lifecycle, and when to use them 
  • Understand how progress measurement, performance assessment, realistic forecasting, and effective change management contribute to project success
 
 
 
Overview
AACE International (The Association of the Advancement of Cost Engineers) designed TCM (Total Cost Management) in 2006, as a proven international framework and standard to estimate and control your project costing more accurately and effectively. Since 1954, AACE has been the leading-edge professional society for cost, schedulers and project professionals with over 7000 members worldwide. It also manages the professional project and cost engineering certifications such as CCC, CEP and CCE. 
 
All organizations need to have a consistent project methodology or process that is clearly defined and understood by all project participants in order to achieve consistent results each time. Some projects may turn out well because of the expertise of the specific individuals working on that particular project, but most projects will underachieve because not every project has the “A” team working on it. 
 
Total Cost Management (TCM) is designed to drive a consistent and effective process across the execution of all projects that will in turn improve the results of the entire portfolio of projects. This must be the goal for all organizations. The TCM Cost Engineering Process is organized to align with the phase-gate (or stage-gate) process by which most organization engineering and fun their projects. 
 
This AACE TCM Series is the best practices application and framework of professional and technical expertise to plan and control resources, costs, profitability and risk. Simply stated, TCM is a systematic approach to managing cost throughout the life cycle of any enterprise, program, facility, project, product or service. The TCM Framework is a representation of that “systematic approach”. It is a process for applying the skills and knowledge of cost engineering.
 
 
 
Outline
  • Project control overview
  • Total cost management - Planning
  • Scheduling 
  • Estimating
  • Risk analysis
  • Budgeting
  • Cost accounting
  • Planning
  • Forecasting
  • Change management
  • Risk fund management
  • Project recovery