Business and commercial

Cost estimating

Learn how to generate accurate and reliable cost estimates.

1 day

Next available:

Members: £550 + VAT
Non-members: £650 + VAT

Course Location & Date
Cost estimating
Members:
£550.00 Plus vat
Non Members:
£650.00 Plus vat

Summary

Learn how to generate accurate and reliable cost estimates.

We have created this course to help those involved in preparing estimates of costs, time and duration.

The need for good estimating practice is fundamental to a business’ commercial viability as well as being a source of sustainable competitive advantage.

Throughout the course, you will experience and practise a number of estimating methods and upon completion will be able to make an informed decision regarding the most appropriate technique to adopt in a range of scenarios.

Who should attend?

This programme is suitable for engineers and non-engineers at all levels.

How will I benefit?

After the course you will be able to: 

  • Understand what an estimate is and why we estimate
  • Understand the business impact of good and bad cost estimating
  • Understand the different cost inputs
  • Select the appropriate estimating method for a given task
  • Estimate labour, materials and overheads
  • Understand the role of statistics in estimating
  • Understand the impact of risk and uncertainty
  • Effectively document the estimate

 

Contributes 7 CPD hours

Very good course, even for non-engineers. Guy Horsley very good trainer - would recommend.

Anna Ross, Horizon Nuclear Power

Key topics

  • Fundamental estimating principles
  • Estimate definitions
  • Accuracy versus precision
  • Classes of estimate
  • Cost and schedule estimating methods and techniques
  • Developing probabilistic estimates
  • Determining appropriate levels of contingency
  • Estimating good practices and lessons learned

Mapped against UK- SPEC competencies: B and C

  1. Design and development of processes, systems, services and products - For Chartered Engineers: ‘Apply appropriate theoretical and practical methods to the analysis and solution of mechanical engineering problems’ For Incorporated Engineers ‘Apply appropriate theoretical and practical methods to design, develop, manufacture, construct commission, operate, maintain, decommission and re-cycle mechanical engineering processes, systems, services and products’
  2. Responsibility, management or leadership - For Incorporated and Chartered Engineers: 'Provide Technical and commercial leadership’

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Tell us your team's CPD needs and we'll come to you with a specialised training programme, customised for your engineering sector.
Contact our advisors if you need help finding the most appropriate training for your team.

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At a glance

  • Duration:
    1 day
  • Location:
    London
  • CPD Hours:
    7
  • UK-Spec:
    B, C

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Available dates for Cost estimating

1 day course

London
21 Jun 2024

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Members: £550 + VAT

Non-members: £650 +VAT

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  • Alten
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  • bmt
  • Bombardier
  • Bombardier
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  • International Nuclear Services
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