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| Cost Management for Engineers PDF Guide |
Cost Management for Engineers PDF Guide
Who Should Attend: Project managers and senior staff members in public and private sector companies.
Objectives:
- To define concepts, methods, and indicators of cost management.
- To develop the participants capabilities in cost management in different areas.
- To raise the skills of participants in planning, implementing and improvement programs.
Course Contents:
- Cost management
- Cost estimation
- Pricing the project
- Cost standard information
- Value engineering
- Case studies (hand-out)
Cost Management:
It is a powerful systematic methodology to optimize the cost performance & Overcome the cost constraints.
Wrike define Cost management is the process of estimating, allocating, and controlling project costs. The cost management process allows a business to predict future expenses to reduce the chances of budget overrun. Projected costs are calculated during the planning phase of a project and must be approved before work begins.
As the project plan is executed, expenses are documented and tracked, so things stay within the cost management plan. Once the project is completed, predicted costs and actual costs are compared, providing benchmarks for future cost management plans and project budgets.
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