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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 03:

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

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