Global Learning for Operational Leaders
Classroom
10 sessions
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Online / Live
10 sessions
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Introduction
Course overview
Why Attend
Effective cost management is essential for keeping projects financially controlled, commercially viable, and aligned with organizational objectives. Cost professionals need a strong command of estimating, budgeting, forecasting, cost control, economic analysis, and performance measurement throughout the project lifecycle. This programme develops the practical and analytical capabilities required to manage project costs, evaluate financial performance, identify variances, and support sound management decisions.
Course Methodology
The programme combines instructor-led sessions, practical calculations, cost-estimating exercises, case studies, forecasting workshops, earned value exercises, group discussions, and project-based scenarios. Participants apply cost engineering principles to realistic situations and develop practical approaches that can be transferred directly to their workplace.
Course Objectives
By the end of this course, participants will be able to:
- Apply fundamental cost engineering and cost management principles
- Develop reliable project cost estimates and budgets
- Establish effective cost control and performance measurement systems
- Analyze cost variances and forecast project financial outcomes
- Apply economic analysis techniques to support investment decisions
- Integrate cost, schedule, risk, and performance information
- Prepare meaningful cost reports for management decision-making
- Strengthen professional capabilities in project cost management
Target Audience
- Cost engineers and cost controllers
- Project managers and project controls professionals
- Estimators and quantity surveyors
- Planning and scheduling engineers
- Finance and commercial professionals
- Engineers responsible for project budgets and cost performance
- Professionals preparing for cost management certification
Target Competencies
- Cost engineering
- Cost estimating
- Budgeting and forecasting
- Project cost control
- Earned Value Management
- Economic analysis
- Cost risk management
- Performance reporting
What you will achieve
Learning objectives
- Apply fundamental cost engineering and cost management principles
- Develop reliable project cost estimates and budgets
- Establish effective cost control and performance measurement systems
- Analyze cost variances and forecast project financial outcomes
- Apply economic analysis techniques to support investment decisions
- Integrate cost, schedule, risk, and performance information
- Prepare meaningful cost reports for management decision-making
- Strengthen professional capabilities in project cost management
Who should attend
Target audience
- Cost engineers and cost controllers
- Project managers and project controls professionals
- Estimators and quantity surveyors
- Planning and scheduling engineers
- Finance and commercial professionals
- Engineers responsible for project budgets and cost performance
- Professionals preparing for cost management certification
- Target Competencies
Methodology
Learning approach
- The programme combines instructor-led sessions, practical calculations, cost-estimating exercises, case studies, forecasting workshops, earned value exercises, group discussions, and project-based scenarios. Participants apply cost engineering principles to realistic situations and develop practical approaches that can be transferred directly to their workplace.
Course content
Five focused days of learning and application
Day 1
Cost Engineering and Cost Estimating Fundamentals
- Understanding the role and principles of cost engineering
- Exploring the project lifecycle from a cost management perspective
- Understanding cost classifications, structures, and terminology
- Developing the Cost Breakdown Structure (CBS)
- Applying different estimating methods and techniques
- Understanding estimate accuracy, assumptions, contingencies, and allowances
- Practical exercise: Preparing a structured project cost estimate
Day 2
Budgeting, Planning, and Cost Control
- Converting estimates into approved project budgets
- Establishing cost baselines and control accounts
- Integrating cost information with the Work Breakdown Structure (WBS)
- Understanding commitments, expenditures, accruals, and cash flow
- Establishing effective project cost control procedures
- Identifying and analyzing cost variances
- Practical exercise: Developing a project cost baseline and control framework
Day 3
Performance Measurement and Forecasting
- Understanding project performance measurement principles
- Applying Earned Value Management (EVM)
- Calculating and interpreting Cost Performance Index (CPI) and Schedule Performance Index (SPI)
- Forecasting Estimate at Completion (EAC) and Estimate to Complete (ETC)
- Conducting variance and trend analysis
- Developing accurate project cost forecasts
- Practical workshop: Analyzing project cost and schedule performance
Day 4
Economic Analysis, Risk, and Decision-Making
- Understanding the time value of money
- Applying cash-flow analysis to project decisions
- Using Net Present Value (NPV), Internal Rate of Return (IRR), and payback techniques
- Evaluating alternative investment and project options
- Understanding uncertainty and cost risk
- Applying contingency and risk-based cost analysis
- Practical exercise: Evaluating project alternatives using economic and risk analysis
Day 5
Advanced Cost Management and Reporting
- Integrating cost, schedule, scope, and risk information
- Managing changes and their impact on project costs
- Applying cost optimization and value improvement techniques
- Developing meaningful cost KPIs and management dashboards
- Preparing concise cost reports and forecasts for senior management
- Identifying emerging practices in digital cost management and analytics
- Capstone Exercise: Developing and presenting an integrated project cost control and performance report
FAQ
Frequently asked questions
What does Certified Cost Professional (AF-012) cover?
This course covers Accounting and Finance through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on 4 - 8 January 2027, with additional classroom dates and mirrored Online / Live options listed in the course schedules section.
Who should attend this course?
Cost engineers and cost controllers, Project managers and project controls professionals, Estimators and quantity surveyors
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Yes. The course detail page includes both classroom sessions and Online / Live sessions, with online options aligned to the same course dates for easier planning.
Where are classroom sessions delivered?
Current classroom venues include London, Kuala lumpur, Istanbul, Frankfurt, Munich, Barcelona, Amsterdam.
How long is the training programme?
The programme runs for five days, with up to five training hours per day, from 9:00 AM to 2:00 PM. Each programme includes a total of 25 accredited training hours.
Still Have Questions?
Contact the academy team for course details, delivery options, and delegate guidance.
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