Value Engineering & Cost Estimating
Course Info
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Course Details
Introduction
Objective
Who should attend
Course Location
Value Engineering is not simply a design/peer review or a cost-cutting exercise. Instead, Value Engineering is a creative, organized effort which analyzes the requirements of a project for achieving the essential functions at the lowest total costs (e.g. capital, staffing, energy, maintenance) over the project's life.
The course offers a series of estimating techniques and processes to forecast the anticipated costs of projects with a focus on budget estimates accurately, estimates for pre-construction services, estimating contractor and sub-contractor work, estimating general conditions, pricing self-performed work, estimating negotiated contracts and performing lump-sum and unit-price estimates.
Course Outline
Introduction to Value Engineering (VE)
- Objectives of Value Engineering
- When to apply Value Engineering
- Impact of Value Engineering
- Introduction to project scope
- Budget analysis
- Elements of the project budget
