Cost Management (Control,Estimation,Pricing) Basics & Advanc

<div>During Study Of <b><u>Cost Management Course</u></b> We Will Understand Next Points :</div><div><br></div><div>1. Fundamental Concepts</div><div><ul><li><span style="font-size: 1rem;">Explanation of key definitions: cost types, margins, profit, and break-even concepts.</span></li></ul></div><div><span style="font-size: 1rem;">2. Detailed Study of Cost Elements</span></div><div><ul><li><span style="font-size: 1rem;">Full analysis of core cost components: labor, materials, equipment, subcontractors, and petty cash.</span></li></ul></div><div><span style="font-size: 1rem;">3. Equipment Costs</span></div><div><ul><li><span style="font-size: 1rem;">In-depth coverage of equipment costing, including various depreciation methods.</span></li></ul></div><div><span style="font-size: 1rem;">4. Subcontractor Management</span></div><div><ul><li><span style="font-size: 1rem;">Managing subcontractor costs, including contracts, Request for Quotation (RFQ) processes, selection methods, and invoicing.</span></li></ul></div><div><span style="font-size: 1rem;">5. Warehouse and Inventory Control</span></div><div><ul><li><span style="font-size: 1rem;">Comprehensive explanation of warehouse control and inventory reporting.</span></li></ul></div><div><span style="font-size: 1rem;">6. The Procurement Cycle</span></div><div><ul><li><span style="font-size: 1rem;">Full breakdown of the procurement process, including Material Request Forms (MRF), Purchase Orders (PO), and RFQs.</span></li></ul></div><div><span style="font-size: 1rem;">7. Technical Documentation Review</span></div><div><ul><li><span style="font-size: 1rem;">How to read and understand material data sheets and technical reports.</span></li></ul></div><div><span style="font-size: 1rem;">8. Indirect Costs and Budget Buffers</span></div><div><ul><li><span style="font-size: 1rem;">Strategies for managing indirect costs, reserves, and contingency budgets.</span></li></ul></div><div><span style="font-size: 1rem;">9. Performance Measurement</span></div><div><ul><li><span style="font-size: 1rem;">Explanation of Earned Value Management (EVM) and key performance indicator (KPI) calculations.</span></li></ul></div><div><span style="font-size: 1rem;">10. Financial Analysis & Cash Flow</span></div><div><ul><li><span style="font-size: 1rem;">Cash flow calculation for projects and linking costs to planned and actual spending.</span></li><li><span style="font-size: 1rem;">Analysis of profit types and methods for calculating project profitability.</span></li></ul></div><div><span style="font-size: 1rem;">11. Cost Control & Reporting</span></div><div><ul><li><span style="font-size: 1rem;">Preparation of cost control reports, evaluation, and variance analysis.</span></li><li><span style="font-size: 1rem;">Preparing material consumption and cost analysis reports.</span></li><li><span style="font-size: 1rem;">How to prepare periodic cost reports and link them with actual project progress.</span></li></ul></div><div><span style="font-size: 1rem;">12. Advanced Techniques</span></div><div><ul><li><span style="font-size: 1rem;">Break-even analysis and contribution margin techniques.</span></li><li><span style="font-size: 1rem;">Full study of the Project Top Sheet (Project Cost Summary).</span></li><li><span style="font-size: 1rem;">Study of the cost budget and cost baseline.</span></li></ul></div><div><span style="font-size: 1rem;">13. Practical Application</span></div><div><ul><li><span style="font-size: 1rem;">How to prepare a pricing sheet from scratch.</span></li><li><span style="font-size: 1rem;">How to handle projects facing financial or cash-flow challenges.</span></li><li><span style="font-size: 1rem;">How to prepare a professional Cost Management Plan.</span></li></ul></div><div><span style="font-size: 1rem;">14. Stakeholder Collaboration</span></div><div><ul><li><span style="font-size: 1rem;">Understanding the relationship with Planning, Accounting, the PMO, and the Study Department throughout the project life cycle.</span></li></ul></div>

What you'll learn:

• Comprehensive Explanation of Full Cost: Definition, Components, and Applications
• Full Practical Explanation of Cost Elements (Labors,materials,Subcon,Petty Cash,....)
• How To Deal With Financial KPIs (ROI,ROE,NPV,....)
• Study multiplier,Margin and profit
• How To deal With Indirect cost ,Managment Reserve & contingency Cost
• How to Prepare Study/Pricing Sheet
• How to Prepare Cost Control Reports
• Earned Value Method (EVM)
• Practical Workshop &Examples
• Pricing Engineer vs Cost Control Engineer vs Project Control Engineer