Construction Project Management: Project Cost System

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Construction Project Management: Project Cost System

2 hrs. Online Course
Level: Intermediate
Average Rating: (888)

Item #: RV-11403
SME: S. Sears

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SME

Course Applies To

Overview

Course Description

Did you know that managing cost for a construction project is equally important as managing time? It allows you to make decisions that will enable you to maximize resources. This interactive online course covers the various elements of the project cost cycle, starting with the estimate and moving through the project to collection of actual unit costs to be incorporated into the company cost database for use in starting the cycle again for a future project. We will also review the relationship between time and money. Although the details of a specific cost-control system vary substantially from one construction firm to another, the ensuing treatment can be regarded as being reasonably typical of current practice within the construction industry.

Learning Objectives

By the end of this course, you will be able to:

Describe the project cost cycle, from estimation through collection of actual unit costs
Identify how project cost accounting provides the basic data required for both cost control and estimating
Explain the critical importance of accurately capturing data from the field for cost control and estimating
Explain how cost reports can be used to prevent cost overruns and identify work classifications where expenses are excessive
Describe the value of time-cost envelopes and earned value analysis when considering the effects of time and money on a construction project

Course Applies To:

This course can be used for CE or applies to the State Licenses and Professional Organizations listed below.

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Subject Matter Expert: S. Sears

Biography

S. KEOKI SEARS is a Project Manager and owner of Project Catalyst Corporation, based in Durango, Colorado.

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NOTE: State license renewal information is provided as a convenience only and is subject to change at any time. It is the ultimate responsibility of the individual to be sure that he or she is meeting continuing education requirements for each license and corresponding renewal period. Information above was pulled on Thursday, April 18, 2024.