ProvidingQualityand

ProfessionalTrainingSince1984

ProjectBudgeting,CostEstimating,andValueEngineering
Date:31August201511September2015
CourseID:ADDS038/2015
Duration:12Days
FeeUS$:8500US$
Venue:Barcelona/Spain
Category: CONSTRUCTIONMANAGEMENT
Introduction:
Projectcostisoneofthemajorconstraintstomanageandcompleteprojectssuccessfully.ProperCostestimatingandbudgetingisthecornerstoneforprojectcost
managementthroughouttheproject.Theaccuracyofcostestimatingandbudgetingisdependentonmanyfactors,butmostlyonthelevelofinformationavailableand
thepurposeoftheestimate.Studyingalternativesandimprovingthevalueoftheprojectisanotherchallengeaccomplishedthroughvalueengineeringtechniques.

Thiscoursewillguideyouthroughthecostestimatingandbudgetingprocessesfrominceptiontoprojectclosure.Itwillcoverdifferentcostestimateclassification
systemsrecognizedfrominternationallyrecognizedbodiessuchastheAssociationforAdvancementofCostEngineering(AACE)internationalandtheConstruction
specificationInstitute(CSI).ItwillcoveralsotheValueengineeringproceduresaccordingtoSAVEInternational.Workshopsandcasestudieswillshowthe
participantshowthesetechniquescanbeappliedonprojects.
Objectives:
Attheendofthecoursetheattendeesshouldbeableto:
Knowhowtoplanandprepareforcostestimatingandbudgeting
Preparetheprojectbudgetinearlierphasesbasedonexpertjudgment
Howtocollectprojectinformationfromprojectdocuments
Learnthedifferentclassesofcostestimatesandhowandwhentousethem
Learnthedifferentmethodsforcostestimating
LearnhowtousetheAACEcostclassificationsystem
LearnhowtousetheUniformatelementalsystem
UnderstandandapplythemasterformatofCSI
Learnthestandardmethodologyandbenefitsofvalueengineering
understandthedifferentstages/phasesofvalueengineering
UnderstandhowtoapplysystematicValueEngineeringonyourprojects
Whoshouldattend:
ThiscourseistargetedforChiefExecutiveOfficers,FinanceManagers,HumanResourcesManagers,ProjectManagers,EngineersandPlanners,Information
TechnologyManagers.
DailyOutlines:
Introductiontocostmanagement
TheTotalCostManagementFramework
Basicdefinitionofcostmanagement
Costelements
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Labourcosts

Basicdefinitionofcostmanagement
Costelements
Labourcosts
MaterialCosts
Equipmentcosts

Planningforcostmanagement
ProjectPhasesandcostestimatingclasses
RelationshipBetweenEstimateAccuracyandEngineeringProgress
AACECostestimateclassificationsystem
Uniformatcostestimatessystem
Othercostestimatesclassificationsystems
Selectingtheappropriatemethodandaccuracylevel
Definingscopeofwork
Definingdatasources

AACECostEstimateClassificationSystem
Class5EstimateforConceptScreening
Class4EstimateforStudyorFeasibility
Class3EstimateforBudget,Authorization,orControl
Class2EstimateforControlorBid/Tender
Class1EstimateforCheckEstimateorBid/Tender

CostEstimatingToolsandTechniques
ExpertJudgment,orAnalogousmethodsusinghistoricaldata
Capacity/EquipmentFactoredmethods,
ParametricModels,
SemiDetailedUnitCostswithHighLevelLineItems
DetailedUnitCostwithForcedDetailedTakeOff
RSMeansandothercommercialdatabases

CostEstimatingUsingUniformatElementalSystem
A.Substructure:foundations,basementconstruction
B.Shell:superstructure,exteriorenclosure,roofing
C.Interiors:interiorconstruction,stairs,interiorfinishes
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D.Services:conveying,plumbing,HVAC,fireprotection,electrical

B.Shell:superstructure,exteriorenclosure,roofing
C.Interiors:interiorconstruction,stairs,interiorfinishes
D.Services:conveying,plumbing,HVAC,fireprotection,electrical
E.Equipmentandfurnishings:equipment,furnishings,
F.Specialconstructionanddemolition:specialconstruction,selectivebuildingDemolition

WorkshopI:CostEstimatingUsingUniformatElementalSystem

CostEstimatingUsingConstructionSpecificationInstitute(CSI)MasterFormat

01GeneralRequirements
02ExistingConditions
03Concrete
04Masonry
05Metals
06Wood,Plastics,andComposites
07ThermalandMoistureProtection
08Openings
09Finishes
10Specialties
11Equipment
12Furnishings
13SpecialConstruction
14ConveyingEquipment
21FireSuppression
22Plumbing
23Heating,Ventilating,andAirConditioning
25IntegratedAutomation
26Electrical
27Communications
28ElectronicSafetyandSecurity
30SiteandInfrastructureSubgroup(3135)
40ProcessIntegrationSubgroup(41to48)

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40ProcessIntegrationSubgroup(41to48)

WorkshopII:CostEstimatingusingCSIMasterFormat

BudgetDevelopmentTechniques
Establishingcostaccountcodes
DevelopingtheCostBreakdownStructure(CBS)
Developingtimephasedbudgetsusingtheprojectschedule
Developingtheprojectcashflowandfundingrequirements
DevelopingContingencyreservesandmanagementreserve
EstablishingCostperformancemeasurementBaseline

CostEstimatingUnderUncertainty(CostRiskAnalysis)
WorkshopIII:Presentationofcostrisksimulationsoftware

ValueEngineering
ValueEngineeringhistory
Valueengineeringbenefitsvs.othertechniques
ValueEngineeringthroughouttheprojectlifecycle
PreStudyStage
Rolesandresponsibilitiesforvalueengineering
VEStudyStagesixphases
Informationphase
SOWTAnalysis
ParetoAnalysis
Theprojectcharterforthevaluestudy
Functionanalysisphase
FASTandotherfunctionanalysistools
CostFunctionAnalysis
Creative(speculative)phase
Brainstormingandnominalgrouptechniques
Overcomingtheresistancetochange
Evaluationphase
Prioritizationmethods
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Projectlifecyclecosting

Evaluationphase
Prioritizationmethods
Projectlifecyclecosting
Breakevenanalysis
Developmentphase
Valueproposals
Riskscenarios
Presentationphase
ValueEngineeringReport
PreStudyStage

WorkshopIV:ValueEngineeringCaseStudy(Road/BridgeProject)

PrincipalsofcostcontrolusingEarnedValueManagement
WorkshopV:EarnedValueCaseStudy

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