Timely and accurate cost estimates at various phases of the project cycle are essential for project success. Estimates permit determination of project feasibility, evaluation between alternatives, and allocation of useful developmental budgets, preparation or confirmation of accurate bids and probable final project costs, and control against the estimated costs. This knowledge and capabilities are imperative for the decision-makers of the project team. As project scope is progressively better-defined, understanding of estimate types and techniques enables their accurate, iterative evolution.
Along with product quality and completion timeliness, control of cost forms the third leg of project success. Project success cannot be supported without accurate knowledge of the cost ceilings to which the project must be controlled, and those ceilings are imposed by cost estimates.
Upon completion of this section of the Internet-based AACE CCC/CCE Certification Review Course, the professional will better understand what he or she must yet learn about cost estimating to improve their score on the CCC/CCE Certification Examination.
Upon completion of this course, students will better understand cost estimating and the following:
- The common industry classifications of cost estimates
- The common methodologies applied to prepare cost estimates of the various classifications
- The accuracy of estimates types to the typical definition of scope and viable methodologies for the types
- How to apply risk analysis techniques to determine appropriate contingency for an estimate
Course Price: $988
(Active Duty Military Personnel $917)
Total Contact Hours: 45 (4.5 CEUs)
Register Here for "Cost Estimating" Course