Engineering Cost Estimates

An overview of engineering cost estimating, covering its purpose, different types of estimates, the general estimating process, and classification systems like WBS and CSI MasterFormat.

Understand the common types of construction contracts and how they influence the estimating process and risk allocation.

Learn how to perform quantity takeoffs, calculate volumes and areas for construction materials, understand waste factors, and leverage Building Information Modeling (BIM).

Estimate cut and fill from cross-sections or site grids, convert material volumes between construction states, and compare on-site haul with borrow using project inputs.

Understand the core components of direct costs in construction estimating: materials, labor, equipment, and subcontractor costs.

Understand the intricate details of calculating equipment ownership, operation, depreciation costs, and production rates.

Master the fundamental skill of unit price analysis for estimating construction projects accurately.

Learn how indirect costs, contingencies, and profit are calculated and applied to complete an engineering cost estimate.

Control bid revisions, acknowledge amendments, prepare a responsive submission, and trace award into the contract document set using the governing procurement rules.

Learn how to use historical data, cost indices, and parametric models to generate preliminary estimates quickly and accurately.

An introduction to project cost control methodologies, focusing on Earned Value Management (EVM) for measuring project performance and forecasting.

Understand the principles of Value Engineering (VE) and Life Cycle Costing (LCC) to optimize project costs over their entire lifespan.