Why Choose Project Cost Estimating Skills Training Course?

The estimating techniques covered in this course will provide delegates with the necessary skills to forecast accurately the anticipated costs of projects with a focus on estimates for pre-construction services, estimating sub-contractor work, estimating general conditions, pricing self-performed work, and estimating negotiated contracts.

The development of reliable cost estimates during the design and early conceptual stages of a proposed project is of critical importance since the decision to proceed with a project is often based almost exclusively on early conceptual cost estimates. These estimates also provide the basis for the cash flow projections and forecasts used during the project feasibility study.

 

What are the Goals?

By the end of this course, participants will be able to:

  • Apply techniques used in Project estimating, from the conceptual stage to the final detailed estimate
  • Understand the different types of contracts based on the distribution of risk between contracting parties
  • Synthesize innovative incentive arrangements to get the best results from the contract
  • Apply proper risk analysis to effectively mitigate risks at minimal costs, and to determine appropriate contingencies for residual risks
  • Prepare lump-sum, unit-price, cost plus, and time-and-materials estimates and contracts

 

Who is this Course for?

This course is suitable to a wide range of professionals but will greatly benefit:

  • Project Cost Estimators
  • Project Designers
  • Project Planners and Schedulers
  • Contracts Professionals
  • Project Procurement and Purchasing Staff
  • Project Control and Business Services Professionals who have the responsibility for preparing cost estimates and project proposals in client and contracting companies

 

How will this be Presented?

This course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. Delegates will develop advanced project cost estimating and cost management skills and knowledge through formal and interactive learning methods. This includes individual exercises, team projects, applicable case studies and group discussions. Additionally, the course does not assume prior knowledge of the topics covered in the course. New concepts and tools are introduced gradually to enable delegates to progress from the fundamental to the advanced concepts of project risk management.

 

The Course Content

Cost Estimating Basics

  • Basic Project Management definitions
  • Cost Selection Methods
  • Typical project terminology & setting up for success
  • Project cost management, Cost Control
  • Resource & Cost Allocation
  • Understanding project management inputs to cost estimation

Pricing, Contracts and Risk

  • Project management inputs to cost budgeting
  • Resource Requirements
  • Direct & Indirect Project Costs
  • Probability and Standard Deviation Formulae
  • Contract types according to risk distribution
  • Fixed Price Contracts, Cost-Plus Contracts

Developing the Project Budget & Cost Control 

  • Risk Identification, Analysis & Management
  • Qualitative Risk Analysis
  • Quantitative Risk Analysis
  • Risk & Probability Matrix
  • Risk Response Strategy
  • Cash Flow management

Approximate & Detailed Estimating Methods

  • Material Estimating
  • Civil/Construction Estimating
  • Labor estimating, Detailed estimating with labor crews
  • Procurement Management
  • Risk distribution in contracting
  • Project risk profiles

Advanced Estimating Methods

  • Building Information Modeling (BIM)
  • Cost Estimating Relationships (CER)
  • Computer Estimating
  • Control Charts

Certificate

  • AZTech Certificate of Completion for delegates who attend and complete the training course

Do you want to learn more about this course?

Register now or contact our team to discuss schedules, delivery formats, and customised options.

Frequently Asked Questions

Common questions about our training courses

  Yes. A significant part of the course focuses on diagnosing common hydraulic system faults. Participants learn how to interpret symptoms, use diagnostic instruments, assess operating conditions and apply a structured approach to identifying the root causes of problems such as pressure loss, overheating, contamination, internal leakage and poor system performance.  

AZTech courses are conducted in carefully selected 5-star hotels or 4-star premium hotels in the host city, featuring fully equipped, professional training rooms. Participants will enjoy coffee breaks and snacks throughout the day, as well as a complimentary lunch provided after each training session.

AZTech courses are delivered using a highly interactive and practical methodology, combining presentations, group discussions, real-world case studies, exercises, and workshops to ensure participants can immediately apply what they have learned in their professional environment.

The course is suitable for mechanical maintenance engineers, hydraulic technicians, plant and equipment operators, reliability engineers, condition monitoring personnel, field service engineers, maintenance supervisors and technical personnel responsible for hydraulic machinery and equipment.

Yes. This Project Cost Estimating Skills is offered in a classroom setting across multiple international locations as well as in a live online format, giving participants the flexibility to choose the option that best suits their schedule and learning preference.

  The course examines the operation and performance of key hydraulic components, including pumps, actuators, control valves, accumulators, reservoirs, filters and associated equipment. Participants also develop a better understanding of how individual components interact within complete hydraulic circuits and systems.  

This Hydraulic Equipment Training Course develops practical knowledge of hydraulic power transmission, pressure and flow relationships, hydraulic components, circuit interpretation, contamination control, preventive maintenance and systematic fault diagnosis. Participants also learn how to identify recurring failure causes and improve the reliability and efficiency of hydraulic systems.

Yes. Participants who successfully complete the course will receive an AZTech Certificate of Completion. This course may also be eligible for Training credits, which will be indicated in the course details.

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