Description
Learn best practices in the development of a preconstruction cost estimate and budgeting of projected costs.Preconstruction cost estimating and budgeting is arguably one of the most important issues for successfully managing construction projects. The subject deals with cost issues at the planning stage, which is detrimental to the project’s success, as financial mismanagement is considered the top reason for the failure of construction companies. This course takes a quick look at cost and budgeting issues during the preconstruction phase for both the owner and the general contractor. As we all know, cost estimating is a predictive process, and there are steps to be taken to make it as accurate as possible. Aligning actual expenses with the project budget is a key to success, and this has two elements Starting with a good estimate and accurate budget and controlling the cost while in the execution phase.
Date: 2022-07-27 Start Time: End Time:
Learning Objectives
The Planning Stage: Defining Planning, Importance of Planning
Cost Estimates, Budget, and Cost Control
Types of Estimates, Uses, and Relationship With Type of Contract
Owners
• Pre-Construction Services and Costs
• Feasibility Studies
• Scope Definition and Management
• Defining Owners Constraints and Priorities: Cost and Time Parameters
• Choice of Contract Type and Method of Delivery
• Contractor Evaluation and Acquisition
• Utilize BIM and Value Engineering Study
• Securing Funding
• Proactive Risk Management
• Consult With the Expert
Contractors
• Visiting and Inspecting the Site
• Make a Site and Logistics Plan
• Plan Resource Acquisition (Materials, Equipment, Labor, Subs)
• Risk Management Plan
• Estimating and Controlling Indirect Costs
• Preparing the Detailed Schedule
• Constructability Study
• Cash Flow Prediction
The Baseline Budget
• Change Order Process
• The Progress Payment Cycle
Other Issues:
• Claims and Other Disputes Management
• Electronic Document Management System
ENG ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Saleh Mubarak-Saleh A. Mubarak, Ph. D.
