For Contractors, Successful Projects Are Profitable Projects.
Construction Cost Estimating Is Part Art & Part Science
Construction projects can fail for a number of reasons.
According to BuildRite Construction, underestimating the project ranks as the most common, and costly reason for a failed construction project.
Learning proper and accurate cost estimation techniques can go a long way to building better estimates.
de-mystify, explain and teach you Construction Cost Estimating.
Dr. Saleh Mubarak will guide you step-by-step through the theory, techniques and principles of building cost estimates.
Not only that, Dr. Mubarak will share real-world examples and situations from over 20 years of experience in the field of Project Controls education and research.
Whether you’re confused by where to get started in estimating, or you just need to fill in your knowledge & skills gaps, Dr. Mubarak & I will share everything you need to know about Construction Cost Estimating, from definitions to expert techniques and processes.
Oh, AND there’s HOMEWORK so you can truly practice what you’ve learned.
I believe that wherever you are in your career, learning and growing your knowledge is a must to keep adding value to your projects and their outcomes. It just takes patience, dedication, and the right amount of focused learning, starting with principles first.
Join me and Dr. Saleh Mubarak and let’s explore Construction Cost Estimating together.
–Chief Learning Officer, Plan Academy
What Will I Learn?
- Learn the concepts and processes for building cost estimates.
- How to adjust estimates to be compatible with project conditions.
- Learn to estimate labor, equipment, and materials quantities & costs.
- Understand the methodologies of both approximate and detailed estimates.
- Understand the concepts for monitoring & controlling costs.
- Invaluable tips on preparing accurate construction cost estimates.
Detailed Course Outline
- Intuitive Math: How to Do Rough Estimates Quickly
- Introduction to Cost Estimating
- Conceptual & approximate estimates
- Assemblies & models estimates
- Unit price estimates
- Parametric estimates
- Detailed estimates
- Total project cost to an owner
- To bid or not to bid; factors involved, cost of bidding
- Direct versus indirect cost
- Unbalancing bids (front-end loading)
- Format of the estimate, CSI MasterFormat, Work Breakdown Structure (WBS)
- Source of cost estimating data & databases
- Contracts: definition, types of contracts (lump-sum, unit price, cost-plus-fee), effect of contract type on cost estimate
- Types of projects delivery methods
- When time matters
- Change (Variation) Orders
- How cost estimating related to project scheduling and project control
- Estimating indirect cost
- Bonds: bid bonds, performance bonds, payment (labor and materials) bonds
- Insurance: Workers Compensation, Builders Risk, Public Liability, other
- Estimating general and job / project overhead
- Estimating profit and contingency
- Inflation / escalation
- Allocating indirect costs
- Understanding the Land Development Process
- Construction Cost Estimating
- Labor analysis: labor productivity (adjustment factors), overtime, labor wage add-ons
- Equipment analysis: Ownership expenses and operating expenses
- Materials management: types of costs of materials, balancing between inventory buffer and just-in-time theories
- Quantity take offs
- Cost estimating database/sources of pricing
- Schedule of values (Bill of Quantities, Project Cost Breakdown)
- Cost Control
- Progress payments
- Estimating Hints
- Excavation / earth work, Concrete, Masonry, Metals, Interior Finish, Other
- General Conditions
- General tips on take-off and estimating
- Approximate estimating
- Unit area, functional unit
- Assemblies estimating & Model estimating
- Understanding risk, professional responsibility, and liability for all parties
Construction Cost Estimating Course Agenda
The course is spread over 5 days, with each session lasting 2-3 hrs, and time for homework assignments. Each day’s training builds on the last one and helps to you see the big picture.
Let’s take you through the course agenda.
- Day 1: Welcome, Intuitive Math, Intro to Cost Estimating Part 1, Land Development
- Day 2: Intro to Cost Estimating Part 2: Direct vs indirect costs, cost estimating and contracting
- Day 3: Labor Analysis, Equipment Analysis, Materials Management
- Day 4: Cost estimating database & sources of pricing, tips & best practices
- Day 5: Homework Assignment Review, Approximate estimating, Understanding the risks, wrap-up
Keep reading below for dates & times the course is scheduled.
Meet Dr. Saleh Mubarak, Ph.D.
Dr. Saleh Mubarak is an internationally renowned Project Controls speaker, consultant, author and educator. Saleh is an authority on cost estimating, project planning, scheduling and project controls.
He’s the author of “How to Estimate with RSMeans Data: Basic Skills for Building Construction” a text widely used by estimators world-wide. He was a member of the team that wrote the first Project Scheduling certification exam for PMI in 2007.
Saleh’s 26 year career in project management spans across industries in both the private and public sectors as well as over 12 years teaching in Universities, including most recently at Qatar University where he was department head.
Who Is This Course For?
Let’s find out if this course is for you. It’s a perfect fit if….
Student #1: You have some experience working in project controls with no idea on how cost estimating works.
Student #2: You already know something about construction cost estimating, but you’d like to better understand other techniques and concepts and improve your skills.
Student #3: You are a seasoned cost estimator but need a refresher on estimating techniques, and how to prepare detailed, accurate cost estimates for construction projects.
Basically, if you are a complete master of Cost Estimating, if you often participate in preparing Cost Estimates, then DON’T take the course. Everyone else: you should take the course, today.
“Great topic to learn and the structure was well organized. Dr. Mubarak and Michael showed us a good understanding and knowledge about the topic and they answered all of the questions from the group.”
Joaquin Casanova — INITEC Energia
Frequently Asked Questions
“Are there any pre-requisites to this course?”
Yes. You must have experience in building and managing CPM schedules. It is essential to know how to perform CPM scheduling calculations manually without software. This course is not for beginners to project controls, but for professionals who have minimum 2 years of experience in project controls. If you are a beginner in project controls, contact us about other training courses that are a better fit for your experience.
“How do I attend the live training sessions?”
Attend from home or the office. You must have a good internet connection to attend! The training sessions will be conducted over a collaborative & screen-sharing platform. You will have to install the software client on your computer to attend the sessions.
“Will the training sessions be recorded?”
Yes, the sessions will be recorded and posted on a dedicated course resource page you will given access to on PlanAcademy.com. If you don’t have a PlanAcademy.com login, one will be provided to you after registration. The videos will not be downloadable.
“Is any software required for the coursework?”
No, it is not necessary to have access to any scheduling tools. The course will focus on fundamental techniques and concepts outside of any software package. This is NOT a Primavera P6 course, but rather a course that focuses on techniques.
“How long will I have access to the recordings?”
You will have access to the recordings for 1 year from the course start date.
“Do I have to attend all of the sessions?”
In order for us to provide you with a certificate of completion, you must attend all of the LIVE sessions. The recordings are provided in order for you to review the material only.
“How many PMI PDUs can I claim for this course?”
We understand that PMI allows 1 PDU for every 1 hour of contact training, within the Category “Courses or Training / Courses from other 3rd party providers.” This course is 10 hours of training and should result in 10 PDUs. Please refer to PMI CCR guide for more information. Plan Academy is not a PMI Registered Education Provider.
“Are there discounts for students?”
If you are currently enrolled in post-secondary college or university and can provide proof of enrollment, you may qualify for a student discount. Please contact us for more information.
More Questions For Us?
What You Get
- 15+ hours of Coursework over 2 weeks
- Cost Estimating techniques for labor, materials & equipment
- in-depth hands-on homework assignment
- access to the training recordings for 1 year
- 15 PMI Professional Development Units / CEUs
- a handsome certificate of completion
A complimentary copy of “Estimating with RS Means – 4th Edition” by Saleh Mubarak. Saleh’s book is used around the world by teachers and practitioners of cost estimating and construction project management. It’s a big addition to your project management library.
Value: $120 USD
A Certificate of Training that shows you’ve done the work on learning as much as possible when it comes to construction cost estimating.
Value: Invaluable to your CV and Career
Next Course Dates:
This course is scheduled to run in the fall of 2018