Participants will be taught to understand the fundamentals of cost estimating, cost and price analysis, negotiation skills, cashflow management for projects, managing contracts and administration. They will also learn to minimize the risks after winning the contracts.
The two-days seminar helps participants to improve and refine their techniques to prepare tender estimates, negotiate and administer cash flow and contracts.
1. Introduction and Overview of Cost Estimating
– What is cost estimating?
– Purpose, functions, objectives of cost estimating
– Uses of cost estimating
– Functions and organization of estimating department
– Roles and responsibilities of cost estimators
2. Preparing Estimates for Quotation
– Understanding the types of estimates
– Factors in cost estimating
– Steps in preparing a cost estimates for quotations/tendering
– Reviewing the tender requirements
3. Mechanics of Cost Estimating
– Cost estimate format
– Establish labour rates and labour cost calculations
– Types of overheads and overheads calculations
– Obtaining contractor/subcontractors quotations
(a) Cost exercises
(b) Preparing quick cost estimates