Certified Estimating Professional (An AACE Certification Prep Course) provided by Lonadek Nigeria Limited, is a three (3) day course designed to equip participants to become CEP professionals 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 CEP estimates costs of a determined scope in order to advise management on project funding decisions. The CEP’s ability to clearly communicate cost estimates, both verbally and written, to all project stakeholders is critical to their success. This intensive course prepares and equips participants towards the AACE Certification credential examination: Certified Estimating Professional (CEP). Participants also become acquainted with key terminologies and techniques in addition to obtaining international certification, as well as achieving professional and career development.
Course Overview
Learning Outcomes:
Upon completion of this course, participants will be able to:
- Apply project cost estimating and control to their projects.
- Learn the concepts, theories, methodology, tools, and techniques through Portfolio, Program, and Project Management.
- Know how to integrate the theories of Total Cost Management (TCM)- Develop a practical understanding of TCM as it applies to their specific industry. (All courses will use actual examples from their sector) That is, to provide a means to “bridge the gap” from the THEORY to real-life IMPLEMENTATION.
- The role of the Cost Estimator.
- Elements of cost, and analysis.
- General Estimating Concepts.
- Estimate Variability.
- Estimating Algorithms.
- Cost Estimation and Budgeting.
- Classification of Cost Estimates.
- Project Control Planning.
- Project Scope and Execution Strategy Development.
- Estimate Review and Validation.
- Resource Planning.
- Project Control Plan Implementation.
- Project Control Measurement and Control Performance Assessment.
- Cost Estimating
- Process Product Manufacturing
- Discrete Part Manufacturing.
- Project and Product Costs.
- Estimating Processes and Practices
- Building Information Modeling (BIM)
- Total Cost Management (TCM) Framework.
3 Days
Target Audience:
Portfolio and Asset Managers, Project Control Managers, Project Controllers, Business Analysts, Cost Estimators, Cost Engineers, System Engineers, Project Managers, Internal Consultants
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