Project Cost Estimating, Budgeting & Control Course

Overview

📜 Course Description

This course offers practical training in estimating costs, developing budgets, and managing cost control across the lifecycle of capital projects. Using international best practices and industry standards (such as AACEI and PMI), it emphasizes cost forecasting, monitoring, variance analysis, and corrective actions.

🎯 Learning Objectives

By the end of this course, participants will be able to:

Apply techniques to prepare accurate cost estimates and budgets
Develop cost baselines and use earned value management (EVM)
Identify cost risks and manage contingencies
Monitor and control project costs using KPIs
Use Excel and/or project control software for reporting and forecasting

🧠 Training Methodology

Instructor-led lectures
Case studies and simulations
Excel-based hands-on exercises
Group problem-solving sessions
Practical tools and templates
Final exercise and wrap-up

📅 5-Day Detailed Agenda with Time Breaks

📘 Day 1: Introduction to Cost Estimating and Budgeting

Time	Topic
08:30–09:00	Registration and Course Introduction
09:00–10:30	Overview of Project Cost Management Concepts
10:30–10:45	☕ Coffee Break
10:45–12:15	Cost Estimating Types: Order of Magnitude to Definitive Estimates
12:15–13:15	🍽️ Lunch
13:15–14:45	Estimating Techniques (Analogous, Parametric, Bottom-Up)
14:45–15:00	☕ Coffee Break
15:00–16:30	Workshop: Preparing a Class 5 and Class 3 Estimate

📗 Day 2: Developing Project Budgets and Cost Baselines

Time	Topic
08:30–10:00	Developing the Project Budget and Cost Baseline
10:00–10:15	☕ Coffee Break
10:15–12:15	Incorporating Contingencies and Reserves
12:15–13:15	🍽️ Lunch
13:15–14:45	Allocating Costs Over Time (Time-Phased Budgeting)
14:45–15:00	☕ Coffee Break
15:00–16:30	Budget Approval Processes and Integration with Schedule

📙 Day 3: Cost Control Tools and Techniques

Time	Topic
08:30–10:00	Principles of Cost Control and Performance Measurement
10:00–10:15	☕ Coffee Break
10:15–12:15	Earned Value Management (EVM) Concepts and Application
12:15–13:15	🍽️ Lunch
13:15–14:45	Key Performance Indicators (CPI, SPI, VAC, EAC)
14:45–15:00	☕ Coffee Break
15:00–16:30	Workshop: EVM Calculations and Interpretation

📕 Day 4: Forecasting, Reporting and Variance Analysis

Time	Topic
08:30–10:00	Forecasting Final Costs and Trend Analysis
10:00–10:15	☕ Coffee Break
10:15–12:15	Variance Identification and Root Cause Analysis
12:15–13:15	🍽️ Lunch
13:15–14:45	Cost Reporting Standards and Dashboard Design
14:45–15:00	☕ Coffee Break
15:00–16:30	Hands-On: Creating a Cost Report in Excel

📒 Day 5: Risk, Governance and Final Project

Time	Topic
08:30–10:00	Risk-Based Cost Estimating and Monte Carlo Basics
10:00–10:15	☕ Coffee Break
10:15–12:15	Cost Governance, Audits, and Lessons Learned
12:15–13:15	🍽️ Lunch
13:15–14:45	Final Group Exercise: Build and Analyze a Project Cost Plan
14:45–15:00	☕ Coffee Break
15:00–16:30	Presentations, Discussion, and Certificates

📂 Course Materials Provided

Excel Templates: EVM, Budgeting Sheets, Forecasting Tools
Sample Cost Breakdown Structures (CBS)
Workshop Workbook and Case Studies
Certificate of Completion

Target audiences

Reservoir Engineers, Geologists

Project Cost Estimating, Budgeting & Control Course

$ 5,800

Course Features

Lecture 0
Quiz 0
Duration 5 days
Skill level All levels
Language English
Students 40
Assessments Yes

💰 Cost Estimation, Budgeting, and Cost Control Training Course

Overview

📜 Course Description

🎯 Learning Objectives

🧠 Training Methodology

📅 5-Day Detailed Agenda with Time Breaks

📘 Day 1: Introduction to Cost Estimating and Budgeting

📗 Day 2: Developing Project Budgets and Cost Baselines

📙 Day 3: Cost Control Tools and Techniques

📕 Day 4: Forecasting, Reporting and Variance Analysis

📒 Day 5: Risk, Governance and Final Project

📂 Course Materials Provided

Target audiences

Course Features

TRAINING SOLUTIONS

QUICK LINKS

💰 Cost Estimation, Budgeting, and Cost Control Training Course

Overview

📜 Course Description

🎯 Learning Objectives

🧠 Training Methodology

📅 5-Day Detailed Agenda with Time Breaks

📘 Day 1: Introduction to Cost Estimating and Budgeting

📗 Day 2: Developing Project Budgets and Cost Baselines

📙 Day 3: Cost Control Tools and Techniques

📕 Day 4: Forecasting, Reporting and Variance Analysis

📒 Day 5: Risk, Governance and Final Project

📂 Course Materials Provided

Target audiences

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Course Features

TRAINING SOLUTIONS

QUICK LINKS

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