Cost Management (Control,Estimation,Pricing) Basics & Advance

Master Costing, estimation, control, pricing, and decision-making for maximum efficiency and profitability.

What you’ll learn
Cost Control Engineer Role vs Accountant Role Vs Planning Engineer
Pricing Engineer Role and Project Life Cycle (Tender,Study and Pricing)
Full Cost: Definitions(Types,Margin,Profit,markup,Multiplier,cost Baseline,Budget,…..)
Full Explaination of Cost Account,Control Account and Work Packages/Planning Packages
Explanation of Accruals,Cash out,Expenses and Commitment
Full Study Of Cost Elements (Labors,Materials,Subcon,Equipments and Petty Cash)
How To deal With Indirect cost ,Managment Reserve & contingency Cost
Explanation of Earned Value Method Calculation (EVM)
Explaination of Profits Types and Calculation (Gross,Net ,NOPAT,EPT,…)
Cash flow calculation including Mini Projects (Cash in,Cash out,S-Curve)
How to Prepare Cost Control Reports (Consumption,Evaluation,Variances,….)
Full Explaination Of Study Sheet (Cost baseline,Budget,Budget Zero,PMB,Contribution Margin)
Study Of Cashflow analysis (Breakeven Point,Cost Point,Required Return Point ,….)
Full Practical Workshop &Mini Projects for each Chapter
How To Deal With Financial KPIs (ROI,ROE,NPV,….)

Requirements
No Experiance Required

Description
During Study Of Cost Management Course We Will Understand Next Points :1. Fundamental ConceptsExplanation of key definitions: cost types, margins, profit, and break-even concepts.2. Detailed Study of Cost ElementsFull analysis of core cost components: labor, materials, equipment, subcontractors, and petty cash.3. Equipment CostsIn-depth coverage of equipment costing, including various depreciation methods.4. Subcontractor ManagementManaging subcontractor costs, including contracts, Request for Quotation (RFQ) processes, selection methods, and invoicing.5. Warehouse and Inventory ControlComprehensive explanation of warehouse control and inventory reporting.6. The Procurement CycleFull breakdown of the procurement process, including Material Request Forms (MRF), Purchase Orders (PO), and RFQs.7. Technical Documentation ReviewHow to read and understand material data sheets and technical reports.8. Indirect Costs and Budget BuffersStrategies for managing indirect costs, reserves, and contingency budgets.9. Performance MeasurementExplanation of Earned Value Management (EVM) and key performance indicator (KPI) calculations.10. Financial Analysis & Cash FlowCash flow calculation for projects and linking costs to planned and actual spending.Analysis of profit types and methods for calculating project profitability.11. Cost Control & ReportingPreparation of cost control reports, evaluation, and variance analysis.Preparing material consumption and cost analysis reports.How to prepare periodic cost reports and link them with actual project progress.12. Advanced TechniquesBreak-even analysis and contribution margin techniques.Full study of the Project Top Sheet (Project Cost Summary).Study of the cost budget and cost baseline.13. Practical ApplicationHow to prepare a pricing sheet from scratch.How to handle projects facing financial or cash-flow challenges.How to prepare a professional Cost Management Plan.14. Stakeholder CollaborationUnderstanding the relationship with Planning, Accounting, the PMO, and the Study Department throughout the project life cycle.

Who this course is for
Cost Control Engineers who need to improve their level
Pricing & Tender Engineers who need to improve their level
Essential for every fresh engineer: Master Cost Management. Learn estimation, control, and pricing to bridge the gap between technical design and business success from day one.

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