Engineering Cost Estimation and Control Training Course (Online / Remote)
1Summary
Underestimating engineering costs can turn a promising project into a financial burden long before it reaches completion. This Engineering Cost Estimation and Control Training Course, delivered by the Arab British Fellowship Training Academy, looks at engineering costing not as a simple design review or cost-cutting exercise, but as a disciplined, creative process that sets the right value for both initial and long-term investment across a project's full lifespan.
Built around the work of multidisciplinary teams of experienced professionals, the course equips pricing estimators, vendors and engineers with a practical understanding of how engineering decisions shape product cost, covering the procedures, foundations and requirements behind reliable cost estimates.
2Objectives and target group
Who Should Attend:
- Engineers and vendors working across industrial sectors.
- Cost evaluators and newly appointed staff in any industrial field.
Course Objectives:
- Understand engineering cost terminology and estimation methods, and recognise different cost concepts.
- Understand economic manufacturing and value for money, and how to develop affordable products and services.
- Model cost estimates to evaluate risk and achieve real cost savings.
- Collect, organise and evaluate data to build dependable cost estimates.
3Course Content
Module 1: Why Cost Estimation Matters for Decision-Makers
- Cost importance for heads of work.
- Data requirements to evaluate real costs.
Module 2: Foundations of Engineering Costs
- Introduction to foundations and procedures of engineering costs.
- Kinds of design and manufacture costs.
Module 3: Estimating and Reducing Costs in Practice
- Practical training to evaluate costs.
- Achieving cost savings on manufacturing production.
Module 4: Contracts, Cash Flow and Project Viability
- Key clauses in engineering contracts that affect the project.
- Project cash flows and evaluating project feasibility from the outset.
Course Format:
- In-house training.
- One-to-one training.
- Group training.
- Practical training.
Note:
- We can deliver this course at the time and location that suits you.
- This course is delivered to high standards for distinguished individuals. For more information, contact the Arab British Fellowship Training Academy team.