Cost is a very important factor in project management. This course impacts the skills needed to estimate, plan and control project costs on large infrastructure projects. The course is designed in three self-contained modules corresponding to different requirements in the infrastructure cost management process. Upon completion of this course, students are able to develop project feasibility study, to estimate project cost and to manage the financial and cost issues of construction projects.
Who should Attend :
Civil Engineers whose working in planning and contracts dept.
Participant will be familiar to :
Course Contents :
o Requirement for project feasibility assessment
o The Common methods for feasibility assessment: Payback period, Return on investment, Present Worth, Future Worth, Internal Rate of Return, Benefit cost analysis
o The effect of depreciation on project feasibility
o The effect of taxation on project feasibility
o The effect of inflation on project feasibility
o Risk and sensitivity analysis for projects
o Rationing capital to competing projects
o Design Cost Estimating Methods: Unit methods, Floor area method, Regression method, Factor and Percentage methods, Parameter estimating, Cost-capacity ratios, Cost significant estimating.
o Construction Cost Estimates: A generalised procedure. Estimating costs for specific project elements
o Making adjustments to cost estimates: Cost indices, location factors, etc.
o Whole life cycle costing (WLCC) of projects
o The allocation and appropriation of project contingencies
o Project cost accounting and control
o Budgeting and budgetary control
o Bidding strategy and project pricing
o Financial management of projects and implications for companies
o Managing risk and returns
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