Leading the business

Introduction to cost estimating

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

1 day

Next available:

Members: £495 + VAT
Non-members: £595 + VAT

Course Location & Date
Introduction to cost estimating
10% early bird discount applied
Hurry! 78 days left
£495.00 £445.50 Plus vat
Non Members:
£595.00 £535.50 Plus vat


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 programme, 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.

You will develop a range of skills and techniques that may be applied to estimating tasks, whether they be simple internal tasks or complex programmes.

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’

In-house and bespoke training

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.


At a glance

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

Need some help?

Contact us if you have any questions about our training courses.

Terms & conditions of booking IMechE training

Enquire now

Online learning

Learn at your own pace and location of your choice with one of our eLearning options.

eLearning collection

Online qualifications

Free webinars

Available dates for Introduction to cost estimating

1 day course

10 Jul 2020 10% discount available until 10 May
16 Nov 2020 10% discount available until 16 September

Require a different date or location? Or want to train a group in house?

We can customise any of our courses and deliver them in-house, for your entire team. It could also save you money, especially as you would save travel time.

More about In-house and bespoke training

Register your interest

Members: £495 + VAT

Non-members: £595 +VAT

Enquire now

Train a group in-house and save

Related courses

  • 2 day course

    Commercial risk awareness

    Develop a more effective sense of commercial and contract risk awareness.

  • Qualification

    Financial management

    This practical course enables you to develop skills in understanding financial and management accounting.

  • Qualification

    Managing engineering projects

    Engineering projects come in all shapes and sizes and require a variety of skills to your projects on track and within budget, often whilst managing multiple projects at the same time.

Train your team

Tell us your team’s development needs and we’ll come to you with a specialised training programme, customised for your organisation.

What options are available?

  • Off the shelf – we can deliver any of our training courses at your chosen location, providing you with a cost-effective and efficient solution
  • Tailored courses– our personalised programmes can help you work through issues specific to your team or sector and equip you with the practical tools you need to move forward
  • Blended programmes – we use a range of delivery methods, development subjects and performance resources to ensure your team have the knowledge and skills they need to help your business thrive

More about in-house and tailored training.

Offers and bundles

We have a range of options to help you maximise your training budgets.

More about our offers and bundles

Companies we've worked with

  • Alten
  • bmt
  • Bombardier
  • Gas Networks Ireland
  • International Nuclear Services
  • Martin Baker
  • National Composited Centre
  • Smurfit Kappa
  • sse

Our training acumen

  • Over 25 years experience of delivering training
  • Designed by engineers for engineers
  • Seven locations across the UK
  • Tailored courses for your team, anywhere in the world
  • You come to us or we come to you
  • Online tools to improve the experience

Average customer rating:

4.75 out of 5

Get in touch

Get in touch if you need help finding the right course, or qualification, for you or your team.

Terms & conditions of booking IMechE training