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Project Cost Estimating

This two-day, in-depth course focuses on approaches to estimating costs and schedules for any project. Understand the various project areas that must be estimated, and the tools and methodologies best suited for the estimates you will prepare. Recognize the importance of effective estimating throughout the project management lifecycle.

Learning Objectives
  • Estimate costs and resources needed for projects
  • Learn how different estimating techniques work and interact together
  • Size project deliverables
  • Identify associated project costs to build a comprehensive project estimate
  • Identify risks and their impact on project costs
  • Estimate a development schedule, staffing, and effort
  • Select estimating techniques best suited to your projects
  • Determine how different factors impact estimate accuracy
  • Update estimates throughout a project’s duration
Topics

Cost Estimating Overview

  • Cost estimating terms and key concepts
  • Major challenges associated with cost estimating
  • Iterative nature of cost estimating
  • Estimating with different product life cycles

Getting Started

  • Prerequisites to the estimating process
  • Creating a deliverable-based WBS
  • Resource breakdown structures (RBS)

Estimating Techniques

  • Units of measure
  • Estimating techniques for developing cost estimates
  • Creating cost estimates using the different estimating techniques

Finalizing the Estimate

  • Ten-step cost estimating process
  • Techniques to clarify the estimating request and scope of work
  • Accounting for individual characteristics of resources
  • Documenting an estimate to ensure clear understanding of the cost estimate, assumptions, accuracy, confidence, etc.
  • Five tips that can improve estimating
Suggested Prerequisites
Suggested Follow-on Courses
Additional Information
  • Bring this course to your organization! To learn more, call 888.545.8577.

Course Details

Course Number: 6111
Tuition: $1239
Duration: 2 days
PDU Credits: 14
NASBA CPE Credits: 16
CLPs: 16
CEUs: 1.4
Level: Intermediate
Field of Study
Management Advisory Services
Course Format
Presentation, class exercises, and case studies
Exam Format
One Exam

Course Location & Dates

Washington, DC

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