Introduction

Cost estimating is a fundamental yet challenging task for contract and project managers. Participants will receive instruction on the cost estimating process, principles and procedures based on best-practices and the GAO Cost Estimating and Analysis. In addition, they will learn step-by-step process for developing accurate and realistic project cost estimates that withstand the scrutiny of customers and management and form a baseline for tight financial control. They will also learn how to incorporate risk and uncertainty in their estimates, provide range estimates and manage the cost estimating process throughout the project life cycle, this course also addresses key issues, such as cost analysis

The integrated case study will give participants an opportunity to apply the cost estimating process to a realistic IT scenario using both time-tested estimating techniques and recent innovative approaches.

Course Objectives:

• Cost analysis and improvement
• Advanced Costing and Management techniques (ABC, ABB, ABM) Economic Value Added
• Manage the cost estimating process throughout the project life cycle
• Incorporate risk and uncertainty into estimates
• The linkages between strategy, budgeting, operations and financial/non-financial measurement
• The Balanced Scorecard construction and implementation
• Enhance cost awareness
• Describe specific cost analysis and performance measurement techniques
• Select the costing measurement system that works
• Select the systems of performance measurement that works
• Demonstrate Activity-based costing techniques
• Broadening knowledge of performance management techniques
• To understand the link between involvement and accountability
• Discuss real case studies
• Broadening the management accounting knowledge
• Enhance the ability to link cost to strategy to performance measurement

Training Methodology:

This course will be conducted as a highly interactive work session, encouraging participants to share their own experiences and apply the programme material to real-life situations. Case studies from different industries will be investigated. Each delegate will receive an extensive reference manual, as well as case studies, while worked out solutions will be handed out to the delegates on conclusion of group discussions.

To ensure the concepts introduced during the course are understood, they will be reinforced through a mix of learning methods, including lecture style presentation, open discussion, case studies, simulations and group work.

This interactive training course includes the following training methodologies as a percentage of the total tuition hours:

• 30% Lectures, Concepts, Role Play
• 30% Workshops & Work Presentations, Techniques
• 20% Based on Case Studies & Practical Exercises
• 20% Videos, Software & General Discussions
• Pre and Post Test

Designed For:

• Professionals with direct financial responsibilities and those who would benefit from news ideas and methods
• Employees from every business discipline and department who have to run departments and plan and who are responsible for cost and strategic analysis
• Middle to senior personnel from all sectors of industry and employees on fast-track development courses, along with other employees working in a project management environment

Certificates

A Certificate of Completion will be issued to those who attend & successfully complete the programme.

Schedule

  08:30 – 10:15 First Session

 10:15 – 10:30 Coffee Break

10:30 – 12:15 Second Session

 12:15 – 12:30 Coffee Break

12:30 – 14:00 Third Session

 14:00 – 15:00 Lunch

Fees

 The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is: