PRMG 035 Cost Management_Sakr
1
Cost Management for Engineering Projects PRMG 035 Coordinator: Dr Tarek Sakr The need to thoroughly understand the project life cycle costs is becoming a crucial function of modern management state of the art. To achieve this goal, costs should be investigated in the light of other project management fields contributing to them such as planning techniques, resource utilization, and supporting disciplines. Moreover, cost indicators during different project phases should be interpreted and measured against international standards as their benchmarks. The nature of cost management is multi-disciplinary and not confined to specific engineering specializations. Optimizing resources and techniques are sought throughout the project life cycle. The course provides detailed knowledge of how you can plan, estimate and monitor costs through practical applications of economic principles. Main topics to be discussed 1. Cost Estimation and Pricing. 2. Statistical and Probability Tools for Cost Engineering. 3. Optimizing Resources and Cost Maturity Model. 4. Heuristic Methods and Computer Models. 5. Construction and Industrial Economics. 6. Constructability and Value Engineering. 7. Monitoring and Cost Performance appraisal. 8. Contracting Fundamentals for Cost Engineers.
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Transcript of PRMG 035 Cost Management_Sakr
Cost Management for Engineering Projects
PRMG 035
Coordinator: Dr Tarek Sakr
The need to thoroughly understand the project life cycle costs is becoming a crucial function of modern management state of the art. To achieve this goal, costs should be investigated in the light of other project management fields contributing to them such as planning techniques, resource utilization, and supporting disciplines. Moreover, cost indicators during different project phases should be interpreted and measured against international standards as their benchmarks.
The nature of cost management is multi-disciplinary and not confined to specific engineering specializations. Optimizing resources and techniques are sought throughout the project life cycle. The course provides detailed knowledge of how you can plan, estimate and monitor costs through practical applications of economic principles.
Main topics to be discussed
1. Cost Estimation and Pricing. 2. Statistical and Probability Tools for Cost Engineering. 3. Optimizing Resources and Cost Maturity Model. 4. Heuristic Methods and Computer Models. 5. Construction and Industrial Economics. 6. Constructability and Value Engineering. 7. Monitoring and Cost Performance appraisal. 8. Contracting Fundamentals for Cost Engineers.
