Cost Estimating, Budgeting and Value Engineering for Construction Projects Training Course
1Summary
Get the cost estimate wrong at the start of a project, and no amount of good management later can fully fix it — the budget, the tender, and the project's financial viability all trace back to that first number. This Cost Estimating, Budgeting and Value Engineering for Construction Projects Training Course builds end-to-end competency in estimating, budgeting and cost control for engineering and construction professionals.
Participants learn to perform accurate quantity takeoff, prepare and interpret a BOQ, and apply structured budgeting and cost planning across projects of different scale. The course also covers value engineering for optimising cost without cutting quality, and the basics of construction finance that connect daily cost decisions to overall project profitability.
This programme is delivered by Arab British Fellowship Training Academy through its Cost Estimating, Budgeting and Value Engineering for Construction Projects Training Course, designed to equip engineering and construction professionals with reliable cost management skills.
2Objectives and target group
- Apply accurate quantity takeoff methods for engineering and construction works
- Prepare and interpret a bill of quantities (BOQ) for estimating and tendering
- Build project budgets aligned with scope and design
- Apply cost planning techniques across the project lifecycle
- Use value engineering to optimise cost while preserving quality and function
- Set up cost control systems to track and manage spending
- Apply core construction finance principles that affect profitability
- Identify and manage cost risks before they hit the budget
Target Audience
- Cost engineers and quantity surveyors
- Estimating engineers and tendering professionals
- Project and construction managers responsible for budget oversight
- Contract administrators involved in cost and value management
- Finance and commercial professionals working on engineering projects
- Consultants and client-side teams managing project cost performance
3Course Content
Module 1: What Drives Project Cost from Day One
- The role of estimating in project success and types of estimates
- Quantity takeoff methods and common errors
- Structuring and preparing a bill of quantities (BOQ)
Module 2: Budgeting and Cost Planning
- Building budgets from design and scope
- Cost planning across project phases
- Contingency and escalation allowances
Module 3: Value Engineering
- Principles and process of value engineering
- Finding cost-saving opportunities without cutting quality
- Applying it during design and construction
Module 4: Cost Control
- Cost control systems and baselines
- Tracking actual costs versus budget
- Managing variations and change orders
Module 5: Construction Finance
- Cash flow forecasting and financial planning
- Profitability and financial risk
- Linking cost control to financial performance
Module 6: From Estimate to Practice
- Case studies in estimating, budgeting and cost control
- Building an integrated cost management approach
- Lessons from real project cost challenges