Certified Estimating Professional

certified estimating professional

A Certified estimating professional is a professional with vital expertise to contribute to the economic evaluation of potential projects by supporting the development of budgets, project resource requirements and value engineering. By applying the estimating body of knowledge as outlined in AACE’s Recommended Practice 46R-11, the Certified estimating professional estimates costs of a determined scope in order to advise management on project funding decisions.

START:
March 5, 2018
DURATION:
3 DAY
PRICE
150,000.00

Address

Plot 21 Peace Avenue,Oshorun Heritage Estate,ISECOM,Isheri-North,   View map

Certified Estimating Professional Course Overview

A Certified estimating professional is a professional with vital expertise to contribute to the economic evaluation of potential projects by supporting the development of budgets, project resource requirements and value engineering. By applying the estimating body of knowledge as outlined in AACE’s Recommended Practice 46R-11, the Certified estimating professional estimates costs of a determined scope in order to advise management on project funding decisions. The Certified estimating professional’s ability to clearly communicate cost estimates, both verbally and written, to all project stakeholders is critical to their success.

 Today’s ever-changing business environment requires new approaches to Cost Engineering Management, which has become an important tool for dealing with time-to-market, resources, limitations, downsizing and global competition. As markets and project organizations become more dynamic, administrative and technical skills alone are no-longer sufficient to deal with the complexities of modern project undertakings.

The Certified Estimating Professional (CEP) course/certification program is designed to establish credentials for those individuals working in the estimating field. This certification program will give professionals a means to validate their skills and knowledge and provide the essential need for cost estimating practical implementation in the real world and the need of transferring theoretical to practical becomes a great challenge in the real world business which will direct and guide all project management knowledge areas implementation to achieve companies goals and objectives.

Cost Estimating Professional Course Objectives

At the end of this course you will have:

  • A basic understanding of the definitions of cost estimation, cost control and planning. You will also be able to read cost engineering reports and put it in the perspective of your project.
  • The basic knowledge to prepare and evaluate estimates quicker and more accurately. This will immediately have its effect on the control you have on the cost of your project.
  • The ability to make your own factor estimates and validate factor estimates prepared by others.
  • The knowledge to identify major cost risks of engineering. Together with the estimating methods this means you will be able to estimate the engineering involved in your projects.

Cost, Pricing and Cost Estimation

1. Cost Elements

2. Pricing

3. Materials, Labor, Engineering and Equipments

4. Economic Costs and estimation

5. Activity-Based Cost Management

6. Estimating Modules and techniques

7. Types of estimates

7. Process Product Manufacturing Estimates

8. Discrete Product Manufacturing Estimates

Cost Estimating Professional

1. Estimating Knowledge

2. Estimating Principles

3. Estimating Process

4. Estimating Practices

Planning, Scheduling, Progress and Cost Control

1. Progress Measurement and Earned Value

2. Earned Value for Variable Budgets

3. Tracking Cost and Schedule Performance

4. Performance and Productivity Management

5. Understanding Time Management Environment

6. The three major independencies

7. Introduction to Networks tools and techniques (AON – AOA)

8. Precedence Diagram Method (PDM) the philosophy and the art

9. Arrow Diagram Method (ADM) the philosophy and the art

10. Activity duration estimates (CPM – PERT – Monte Carlo)

11. Crashing and Fast Tracking

Project Management and Economic Analysis

1. Project Management Fundamentals

2. Project Organization Structure

3. Project Planning

4. Project Labor Cost Control

5. Leadership and Management of Project People

6. Quality Management

7. Value Analysis

8. Contracting for Capital Projects

9. Strategic Asset Management

10. Basic Engineering Economics

11. Applied Engineering Economics

Statistics, Probabilities and Risk

1. Statistics & Probability

2. Basic Concepts in Descriptive Statistics

3. Risk Management

This course is aimed at:

  • Project manager / director;
  • Finance project executive / manager;
  • Project engineer;
  • Quantity Surveyors
  • Cost estimator;
  • Project cost engineer;
  • Discipline leads;
  • Members of the purchase department;
  • Members of a tendering team;
  • Work preparators
  • All who are involved in technical projects, cost estimation, cost control and planning and contract review in their organizations.

Examination Structure

  • 5 hours maximum
  • 119 simple, multiple choice and compound, scenario questions
  • 1 memo writing assignment with a given scenario and instructions for writing a response in an onscreen text box
  • Closed Book
  • Any style, battery operated calculator permitted (not provided by the testing center)

 

Eligibility Requirements

  • 8 years industry related experience or
    4 years industry related experience + 4-year industry related college degree
  • Adherence to AACE’s Canons of Ethics