Construction Cost & Value Management

Introduction:

Construction project cost and economic value management are two critical competencies of construction project managers that are instrumental in achieving customer satisfaction. Accurate cost estimates form the essential foundation upon which all aspects of construction project pricing, budgeting and cost control are built. This course covers the various categories of construction cost estimating techniques and the cost management processes required to ensure that overall cost targets will be achieved. Value management complements cost management through value analysis techniques that allow cost reductions to be made without sacrificing project scope. The candidates will practice value analysis techniques and applications using practical construction examples.

This course will produce candidates who have the ability, training, demonstrating and attitude to manage all types of construction projects of various sizes and types as the project manager for the developer or contractor, a site manager or supervisor of construction works, an Estimator or to perform the role of a resident consultant representative. The candidates will have varying degrees of experience and some will need more practical experience and exposure to enhance their abilities and competence to perform at the higher levels.

Course Objectives:

By the end of this course delegates will be able to:

  • Prepare and apply construction cost concepts, cost estimating & control techniques to manage project cash flow requirements
  • Prepare a project cost management plan to set project finance parameters and to control project implementation
  • Select and use different types of construction contracts and bid preparation to suit the implementation framework
  • Perform basic value engineering, analysis and management techniques to improve construction efficiency increasing the output/input ratio
  • Simulate the investigation, preparation and completion of work assignments under strict time and resources constraints
  • Utilize project & business financial analysis techniques to set guidelines for project financial performance

Who Should Attend?

Construction Engineers, Senior Construction Engineers, Construction Supervisors, Construction General Supervisors, Construction Project Managers, Engineering Technologists, Supervision Engineer, Inspection Engineers, Civil Inspectors, Foremen, Design Structural Engineers, Planners, Structural Engineers, Material Specialists, Quality Control and Quality Assurance Experts, Architects, Supervision Engineers, Team Leaders, Site Officers and Managers, Mechanical Engineers, Technical Professionals, Field Production Supervisor, Operation Engineers, Clients Representatives

Course Outline:

Introduction and Learning Concepts

  • Learning Concepts
  • Approaches & Rules of Order
  • Project Cost Management
  • Concepts of Value Engineering
  • Analysis & Management defined

Methods of Construction Cost Estimating

  • Cost Concepts
  • Analogous
  • Parametric
  • Top Down
  • Order of Magnitude
  • Bottom Up
  • Data Base
  • Construction Costing Software
  • Work Study & Measurement
  • Vendor Bid Analysis & Control
  • Contingencies
  • Reserves for Risk & Cost of Quality
  • Cost Management System & Change Order

Standard Methods of Construction Cost Estimating

  • Standard Method of Measurement from Drawings
  • Standard Method of Recording & Compilation of Estimate
  • Bills of Quantities & Construction Budget
  • Different Types of Cost Measurement
  • Construction Contracts

Construction Cost Control

  • Project Cost Plan & Cost Baseline, Design & Specifications
  • Work Performance Information & Reports
  • Earned Value Analysis
  • Variance, Control & Corrective Action
  • Re-baseline projects

Capital Budgeting Techniques

  • Time Value of Money
  • Discounted cash flow
  • Net Present Value
  • Payback Method
  • IRR
  • Project Buyout
  • Takeover analysis, negotiation & continuation
  • Sustainability & Profitability

The Construction Budget & Cash flow

  • Construction Documents
  • Work Breakdown Structure
  • Bills of Quantities & Construction cost control
  • The Project & Construction budget
  • Cash flow charting & analysis

Construction Bid Preparation & Submission

  • RFP & ITB & Bid Documents
  • Pre & Post Qualification
  • Bonds & Insurances
  • Site Mgt & Integration -Main & Sub-contractors/suppliers
  • The Bid (Tender)
  • Review & Submission

Value Engineering & Analysis

  • The VE process
  • Application: The FAST process
  • Fast worksheet

Construction Value Management

  • Integrating VE processes: The QFD process
  • Value Management Systems
  • QFD Worksheet

Project Cost Worksheets

  • Estimating
  • EMV
  • Capital Budgeting
  • Value Management

Project Performance Appraisal

  • Trend Analysis
  • Variance Analysis
  • Advanced Earned Value Analysis
  • Project Report

Business Accounting & Financial Analysis

  • The Balance Sheet
  • Profitability : Income & Expenses Statement
  • Assets & Liabilities – Current & Fixed
  • Project & Company
  • Financial Statements Analysis

COURSE LOCATIONS

Code From To City Fees
CE07 19 Jan 2020 30 Jan 2020 Cairo US$ 6500 Register
CE07 02 Mar 2020 13 Mar 2020 Kuala Lumpur US$ 7500 Register
CE07 03 May 2020 14 May 2020 Dubai US$ 7000 Register
CE07 13 Jul 2020 24 Jul 2020 Istanbul US$ 7500 Register
CE07 28 Sep 2020 09 Oct 2020 London US$ 8000 Register
CE07 16 Nov 2020 27 Nov 2020 Bangkok US$ 7500 Register

DUBAI OFFICE

Ittihad Deira Building,
Al Ittihad Rd, Deira
Dubai,
UAE
info@petrogas-training.com

USA OFFICE

642 E14 Street,
10009-13 Manhattan,
New York (NY)
USA
info@petrogas-training.com

EGYPT OFFICE

52 General Kamal Hejab Street,
Suez Bridge,
Cairo,
Egypt
info@petrogas-training.com
 

COURSE CERTIFICATE

Certificate of Completion will be provided to the candidate(s) who successfully attend and complete the course. Training hours attendance percentage of 75% is required.

TRAINING HOURS

Standard course hours: 8:30 A.M. to 3:30 P.M. Informal discussions: 4:30 P.M. to 5:30 P.M.

TRAINING METHODOLOGY

We use a blend of interactive and hands-on methods, active participation, a variety of instructional techniques, dynamic presentations, individual and group exercises, in depth discussion, DVD’s, role-plays, case studies, examples. All of the information, competencies, knowledge and skills acquired within our training programs, are 100% transferrable to the participants’ workplace.

ASSESSMENT & EVALUATION

Pre-Test and Post-Test Assessment are applied on 5-day and 10-day programs. Also, post course evaluation and candidate’s evaluation are applied to add another level of quality measurement. Candidates’ feedback is highly appreciated to elevate the training service quality.

ORGANIZATIONAL IMPACT

A- Have staff trained in the latest training and development approaches

B- Support nationalization and talent management initiatives

C- Have properly trained and informed people who will be able to add value

D- Gain relevant technical knowledge, skills and competencies

PERSONAL IMPACT

A- Develop job related skills

B- Develop personal skills in subject matter

C- Have a record of your growth and learning results

D- Bring proof of your progress back to your organization

F- Become competent, effective and productive

G- Be more able to make sound decisions

H- Be more effective in day to day work by mastering job-related processes

I- Create and develop competency to perform job well

FREQUENT NOMINATIONS SCHEME

A- 10% discount after 05 candidates’ registration.

B- 15% discount after 10 candidates’ registration.    

C- 20% discount after 20 candidates’ registration.

D- 25% discount after 25 candidates’ registration.

E- 30% discount after 30 candidates’ registration

F- Higher discount rates will be offered based on work volume with different clients.  

SEVERAL NOMINATIONS ON THE SAME COURSE SCHEME

A- One extra free seat is offered on 4 candidates on the same course and dates.

B- Two extra free seats are offered on 6 candidates on the same course and dates.

C- Three extra free seats are offered on 8 candidates on the same course and dates.

D- Four extra free seats are offered on 10 candidates on the same course and dates.

E- Five extra free seats are offered on 12 candidates on the same course and dates.

REGISTRATION POLICY

Nominations to our public courses are to be processed by the client’s Training and/or HR departments. A refund will be issued back to the client in the event of course cancellation or seat unavailability. A confirmation will be issued to the relevant department official(s). 

CANCELLATION POLICY

If a confirmed registration is cancelled less than 5 working days prior to the course start date, a substitute participant may be nominated to attend the same course or a 20% cancellation charge is applied. In case of a no-show, a 100% fee will be charged.

PAYMENT POLICY

Payment is due upon receiving the course confirmation, invoice and/or proforma invoice. However; the fee due can be wire transferred to our bank account directly after course completion. Our bank details are illustrated on the confirmation, invoice and proforma invoice, as well. The above documents can be communicated electronically, i.e., in a soft copy or/and in hard copy based on customer’s request.

COPYRIGHT

© 2017. Material published by PETROGAS shown here is copyrighted. © 2017. All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing in any medium, transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.