Course Information

Introduction

This course teaches practical methods for producing accurate cost estimates and realistic budgets. It covers bottom-up, parametric and analogous estimating, plus risk adjustment and contingency setting. You will work with standard templates and real data to build, defend and update estimates. The focus is on reducing overruns, improving forecast accuracy and supporting clear funding decisions.

Objectives

1. Create detailed, traceable cost estimates using a work breakdown structure and resource-based pricing.
2. Build risk-adjusted budgets with documented contingency and confidence levels.
3. Select and apply parametric, analogous and bottom-up estimating methods based on project characteristics.
4. Use cost-tracking and variance analysis to update forecasts and control spend during execution.
5. Produce clear cost summaries and supporting documentation for internal reviews, bids and client meetings.

Who Should Attend?

1. Project managers responsible for project budgets and delivery.
2. Cost estimators or cost engineers who prepare or validate estimates.
3. Program managers overseeing portfolios of related projects.
4. Procurement or sourcing managers who negotiate supplier prices and contracts.
5. Proposal and bid managers preparing commercial offers and pricing models.

Training Method

• Pre-assessment
• Live group instruction
• Use of real-world examples, case studies and exercises
• Interactive participation and discussion
• Power point presentation, LCD and flip chart
• Group activities and tests
• Post-assessment
If Applicable:
• Each participant receives a 7” Tablet containing a copy of the presentation, slides and handouts

Program Support

This program is supported by:
* Interactive discussions
* Role-play
* Case studies and highlight the techniques available to the participants.

Daily Agenda

Daily Schedule (Monday to Friday)
- 09:00 AM – 10:30 AM Technical Session 1
- 10:30 AM – 12:00 PM Technical Session 2
- 12:00 PM – 01:00 PM Technical Session 3
- 01:00 PM – 02:00 PM Lunch Break (If Applicable)
- Participants are expected to engage in guided self-study, reading, or personal reflection on the day’s content. This contributes toward the CPD accreditation and deepens conceptual understanding.
- 02:00 PM – 04:00 PM Self-Study & Reflection

Please Note:
- All training sessions are conducted from Monday to Friday, following the standard working week observed in the United Kingdom and European Union. Saturday and Sunday are official weekends and are not counted as part of the course duration.
- Coffee and refreshments are available on a floating basis throughout the morning. Participants may help themselves at their convenience to ensure an uninterrupted learning experience Provided if applicable and subject to course delivery arrangements.
- Lunch Provided if applicable and subject to course delivery arrangements.