Cost Estimation and Risk Analysis

DISCRIPTION Estimated cost of the basic processes of the construction industry that answers the question “How much money is needed?” Inaccuracy of the estimated costs would cause effects that interfere with all parties involved in the project. Due to construction activities require a relatively long time implementation, financial commitments must be obtained before construction process, usually already obtained a price before they are carried on its development. Estimated cost of the project is very useful for party planners, implementers, and the assignor (owner), as well as investors to determine whether the activity is executed or not. Estimated cost will also assist in the cost benefit analysis of an activity. Risk Management offers a means to greater business prosperity through the control of risk that would otherwise result in losses. Many organizations recognize the benefits to be derived from an effective system to risk management, but because this is still a relatively new area of management practice, they lack the knowledge and expertise to implement such a. This course provides a practical introduction to know about estimated cost and the techniques of risk identification and control and the implementation of a risk management. MATERI 1. Preliminary and Detail Estimate

• Estimating the Cost of pre-tender (cost estimation needs, starting level, the level of the feasibility study, schematic design, design development stage, the stage of planning is detailed, tender phase),
• Early stage cost estimation method, Final Phase Estimation Methode

2. Accuracy of Cost Estimation

• Cost Structure
• Tender Documents
• Pictures and Details
• Technical Specifications

3. Estimates In Construction Projects

• Type of Estimation
• The Accuracy of The Estimation Process
• Risk Estimation
• Resources
• Ethics Estimation
• Cost Estimating

4. Work Breakdown Structure (WBS)

• Based on Functional
• Based on The Elemental
• Based Locational

5. Bill of Quantity

• Understanding BOQ
• BOQ Preparation
• Preparation of the work unit

6. Estimating Productivity

• The Definition of Productivity
• Productivity Phases
• Factors that Affect Productivity
• Produkrtivitas Measurement
• Measurement Methods

7. Resources Scheduling

• The Availability of Resources
• The Resources are not Unlimited
• Limited Resources
• Heuristic Approach
• The Method of Settlement

8. Create Project Cash Flow

• The Feasibility of The Project
• The Flow of Revenues and Expenditures
• Budget Cost of The Project
• The Project’s Cash Budget

9. Cost Engineering

• Cost Control Creatively
• Equality Comparison of Costs

10. Computer Workshop Program for Cost Control 11. Introduction to Risk Management

• Introductory exercises
• Corporate and risk management objectives
• The risk management process
• Risk information

12. Risk Identification and Analysis

• Risk identification techniques
• Risk analysis and evaluation
• Preparatory exercises for site visit
• Structured visit to a local manufacturing plant
• Preparation of reports
• Project reports on site visit

13. Risk Control and Implementing the Risk Management Program

• Risk control procedures
• Contingency planning and emergency control
• Researching the program
• Implementing the program

  PARTICIPANT Executives, operating management, and financial management in all sectors of manufacturing or services organizations. The course will also be very valuable for managers of insurance companies and brokers, because these organizations are new recognizing the importance of risk management and cost estimation. The course will be particularly helpful for executives who are seeking guidance with a view to introducing estimating cost and risk management programmers in their organizations TRAINING METHOD Presentation Discussion Case Study Evaluation   FACILITIES Training Kit Flash disc Handout Certificate Lunch + 2 X Coffee Break Souvenir Pick Up Participant