Construction Cost Management
Welcome to the Construction Cost Management course, where we dive into the critical aspects of estimating, budgeting, and controlling costs within construction projects. This course is designed to equip you with the knowledge and skills necessary to navigate the complex landscape of construction economics, ensuring projects are delivered on time and within budget constraints.
Method of Delivery
Students will be introduced to the theoretical & practical concepts of the cost management starting from what is it like to be in a project in both pre-contract and post-contract stages, the basics of quantity surveying, the details of cost estimation, the budgeting, the cost controlling & monitoring as well as invoicing. This is through engaging with a real-life project where they will practice and comprehend the practical execution of cost management.
Curriculum
- 12 Sections
- 0 Lessons
- 45 Hours
- Story of a project0
- BOQs & MOM Basics: Definition, purpose, impact, formulation under contract types, formatting0
- Cost Estimation: Definition, purpose, impact, formulation under contract types, types of estimation, how to create0
- Cost Estimation: Practical Example0
- Cost Budgeting: Definition, purpose, impact, formulation under contract types, types of estimation, how to create0
- Cost Budgeting: Practical Example0
- Cost Monitoring & Controlling (Cost Control): Definition, purpose, impact, formulation under contract types, types of estimation, how to create0
- Procurement Management: Source materials and subcontractors competitively. Negotiate favorable terms and prices. Establish clear contracts and scope of work to avoid cost disputes0
- Cost Monitoring & Controlling (Cost Control): Practical Example0
- Change Management: Document and evaluate change requests thoroughly. Assess the impact of changes on cost, schedule, and quality. Obtain approvals and communicate changes effectively to stakeholders0
- Invoicing: Definition, purpose, impact, formulation under contract types, types of estimation, how to create0
- Invoicing: Practical Example0
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