Project Cost Control
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Syllabus
This course is full of best-in-class content by leading faculty and industry experts in the form of videos and projects
Course Overview
- The learners will gain a thorough knowledge of the construction industry and understand the industrial concepts of cost control.
- This course provides clarity on the purpose of monitoring and reporting all the issues and progress to keep the project on schedule and budget.
- During the coursework, the learners will learn about
- Dual roles of client and contractor-side participation
- Quantity calculation, unit price analysis, the tendering process, the billing process, and other details related to cost
- Steps to make a change order claim from a contractor's side and to negate a contractor's additional claim from a client's side
- They will be exposed to the modern trends and standard practices being followed in the industry right now.
Course Syllabus
On a daily basis we talk to companies in the likes of Tata Elxsi and Mahindra to fine tune our curriculum.
Week 01 - Introduction
- Definition of Project Cost control
- Relevance (Why is it Required)
- Who can do Cost Control?
- Nature of Cost
- Direct Cost
- Indirect Cost
- General Expense
- Temporary Expense
Week 02 - Cost Estimation - Part 1
- Cost Estimation
- Importance and Steps in Cost Estimation
- Project Award
- Bill of Quantities (BOQ)
- Quantity Take-offs
Week 03 - Cost Estimation - Part 2
- Components of Cost Estimation
- Cost Submission Policy
- Cost Submission Format
- Unit Price/Rate Analysis
- Project as Cost Centre
- Introduction to Budget
Week 04 - Basics of Control - Part 1
- Cost Control from Client and Contractor Perspective
- Terminology in Cost Control
- Client Claim (C)
- Cost to the Company (T)
- Budget (B)
- Landed Cost (L)
- Profit (R)
- Profit Direction of a Project
- Work Breakdown Structure
- Determination of Budget
Week 05 -Basics of Control - Part 2
- Determination of Budget
- Budget Explanation with Example
- Paid and Payable
- Variation Order (VO)
- Value Engineering (VE)
Week 06 - Basics of Control - Part 3
- Discrepancy/Variance
- Review Frequency
- Income and Expenditure Statement
- Contingency
- Forecasting of Profit or Loss
Week 07 - Change Order Management
- Budget Determination with Example
- Change Order Management
- Definition
- Elements of Change Order
- Change Order Process
- Change Order with Example
- Causes of Change Order
Week 08 - Risk and Mitigation
- Risk and Mitigation
- 4T of Risk Mitigation
- Method of Risk Mitigation
- Cost Reduction Effort
- Anticipated Cost Increase
Week 09 - Basics of Cost Control - Part 4
- TBL Abstract
- Making of TBL Abstract
- Cost Saving and Profit
- Benefits of Early Procurement
- Procurement Forecast
Week 10 - Basics of Cost Control - Part 5
- Budget Transfer
- Example of Budget Transfer
- Release of Contingency
- Profit Forecasting (Minimum and Maximum)
- Quantity Control
- Amount Control
Week 11 - Basics of Cost Control - Part 6
- Project Cost - Management Information System
- Example of MIS
- Project Cost Evaluation
- Tender
- Variation Order (VO)/ Value Engineering (VE) - Claims
- Claim Evaluation
- Billing
- Contactor Submission
- Client Evaluation
Week 12 - Basics of Cost Control -Part 7
- Cost Management Case Studies
- Best Practices of Cost Control
- Project Cost Control Review
- Software for Cost Control
- Cost Saving Ideas
Our courses have been designed by industry experts to help students achieve their dream careers
Industry Projects
Our projects are designed by experts in the industry to reflect industry standards. By working through our projects, Learners will gain a practical understanding of what they will take on at a larger-scale in the industry. In total, there are 2 Projects that are available in this program.
Developing a Project Cost Control Plan for a Residential Project
In this project, the learners will develop a project cost control plan for a residential project worth INR 50 Cr. The learners will prepare the project estimation cost considering the practical scenarios from the construction industry to generate additional profit for the company.
Analyzing the Tender Documents for a Warehouse Construction Project
In this project, the learners will analyze the tender documents received from the construction company for a warehouse construction project. The learners will understand to set the direction for the team members to work within the specified stringent timelines and also to win the client's trust.
Our courses have been designed by industry experts to help students achieve their dream careers
Ratings & Reviews by Learners
Skill-Lync has received honest feedback from our learners around the globe.
Flexible Pricing
Talk to our career counsellors to get flexible payment options.
INR 40,000
Inclusive of all charges
Become job ready with our comprehensive industry focused curriculum for freshers & early career professionals
1 Year Accessto Skill-Lync’s Learning Management System (LMS)
Personalized Pageto showcase Projects & Certifications
Live Individual & Group Sessionsto resolve queries, Discuss Progress and Study Plans.
Personalized & Hands-OnSupport over Mail, Telephone for Query Resolution & Overall Learner Progress.
Job-Oriented Industry Relevant Curriculumavailable at your fingertips curated by Global Industry Experts along with Live Sessions.
Instructors profiles
Our courses are designed by leading academicians and experienced industry professionals.
1 industry expert
Our instructors are industry experts along with a passion to teach.
17 years in the experience range
Instructors with 17 years extensive industry experience.
Areas of expertise
- Project Planning and control
- Project Management and Program Management
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