Estimating, Costing & Pricing of Construction Tenders
This course will look at the definition, importance and uses of estimating, costing and pricing. We will cover the contextual framework, general principles and measurement when it comes to the process of tenders. Quantity estimating, client costing, tenderer pricing and contract completion also forms a major part of this specific topic and will be covered in detail
Description
This Project Management training course focuses on how to deliver comprehensive reliable plans with time and cost estimates that gives the owner or sponsor of projects, high levels of confidence for project delivery. In addition, the plans need to be realistic with a full view of any risks faced during and after the project life cycle.
The decision to proceed with a project is based on early, high level conceptual estimates. However, these can be wide ranging and therefore more detailed estimates need to provide the basis for the cash flow projections and schedule forecasts.
The course will feature:
• Gaining knowledge of techniques used in te estimating, from the conceptual stage to the final detailed estimate
• Understanding the different types of estimates used to give confidence and progressively estimate project costs and schedule
• Contextual framework
• General principles
• Measurement
• Quantity estimating
• Client costing
• Tendering pricing
• Contract completion.
• An integrated approach to scope, time, resources and cost management into a dynamic and manageable model
Course Objectives
By the end of this ICL training course, participants will be able to:
• Confidently estimate project timescales and costs with appropriate resource management plans
• Identify, assess and manage schedule, cost, scope, and resource risks
• Know about Measurements
• Estimation of quantities
• Costings
• Pricing of tenders
• Cash flow and cost management
• Various facets of estimation and pricing with practical aspects highlighted
How will this Training Course be Presented?
This training course will utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented.
The training course is highly interactive and presents knowledge through formal and interactive learning methods. The training course includes individual exercises, team projects, applicable case studies, video and group discussions. The material has been designed to enable delegates to apply all of the material with immediate effect at the office.
Additionally, the training 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.
Who is this Training Course for?
This ICL training course is suitable to a wide range of professionals but will greatly benefit:
• Those who have a project role such as project managers, cost estimators, project schedulers, project designers, project planner, contract professionals, project procurement and purchasing staff, and project control and business services professionals who have the responsibility for preparing cost / schedule estimates and project proposals in client and contracting companies
• Senior managers who want to understand best practice in project management
• Quantity surveyors
• SCM members
• Contractors
• Consulting Engineers
• Clients
The Course Content
DAY 01:
Introduction
- Definitions, importance and uses of estimating, costing and pricing
- Competitive bidding in action
- Definitions
Contextual Framework
- Role-players
- Standards, uniformity, types and forms of contracts
- Pricing and contracting strategies
- Available software
General Principles
- Establishment, P&G, securities, insurances and escalation
- Pricing data and standard units
- Schedule of quantities (BOQ)
DAY 02:
Measurement
- Field investigation
- Units and rules of measurement
- Coding, numbering and the preparation of the SoQ
Quantity Estimating
- Types of estimating
- Accuracy of the estimation
- Using the Schedule of Quantities
- Dayworks and common pitfalls
Client Costing
- Change management
- Accuracy of costing · Fixed, variable, direct and indirect costs
- Hidden costs and contingencies
DAY 02:
Tenderer Pricing
- Site visits and investigation
- Keeping records and collecting information
- Production determination, profits and mark-up
- Time calculation VS client requirement
Contract Completion
- Recording of information
- Cash flow, S-curves and cost management