Advanced Cost Estimation – Process Plant Equipment
Since the monetary aspect is of paramount importance in business, the cost estimation is a vital resource for any company. An accurate cost estimate increases the chances of a successful completion of a project. Since the promoter of the work will most likely have to adapt costs to limited resources, both large and small projects require
trustingly cost estimates during the conceptual, design and construction phases.
This course provides participants with the necessary tools to develop reliable cost estimates, by assessing the project needs resources, applying one or more estimating methods and adjusting the estimates based on the project resources and risks.
Additionally, this course will provide participants with a conceptual framework, which places them within the Cost Management process, as part of the Projects execution, in accordance with international standards.
This course is 100% compatible with the PMI ® (Project Management Institute), current Project Management Body of Knowledge PMBOK ®, and with the AACE – the Association for the Advancement of Cost Engineering - (Skills & Knowledge of Cost Engineering)
This course is certified with (AEP)
The AACE International Approved Education Provider (AEP) program is designed to provide cost and management professionals and their companies with a means of identifying suitable professional development courses in their geographic area. The AEP program also identifies individual instructors whose knowledge and experience qualifies them to teach or supervise the course materials being presented.
What the AEP Program Offers:
A Provider approval system with standards to ensure that continuing education programming is serving the needs of potential clients.
Continuous course improvement through course review and ongoing support from AACE staff.
Ability to award Continuing Education Units (CEUs).
Provider promotion and organizational recognition on the AACE International website.
An AACE AEP is entitled to:
Publicize your organization as an “AACE International Approved Education Provider.”
Use the official AEP logo appropriately in registered and approved promotional and course materials consistent with AEP Program policies.
Promotion on the AACE International website list of Approved Education Providers with a direct link to the organization’s website.
Review and Approval and Application Criteria
For a complete overview of the Review and Approval process and the criteria for data submission as part of the application process, please review the AEP Terms and Conditions prior to completing the application form.
AEP Audit Program
The AACE International Education Board has the responsibility for ensuring that Approved Education Providers continue to provide quality educational services and adhere to the Canons of Ethics. Because of this, all organizations participating in the AEP program are subject to a no-notice audit at any time. Organizations that fail to adhere to the tenets of the AEP Terms & Conditions Agreement are subject to removal from the AEP program.
CAF CERTIFICATE SAMPLE
After completing this course, the participant must:
- Know and understand concepts and general aspects of cost estimation and its location within the Total Cost Management and the skills they must master a Cost Estimator.
- Analyze How to size and estimate cost for Process Equipment using different sources, simulating different scenarios according to the level of information available as per the stage of the Project Life Cycle.
- Analyze the principles, methods, and criteria involved in the structural and geometric design of these works. Select the machines and/or equipment used in the various tasks involved in these projects and analyze their production methods.
- Discriminating and construction procedures apply to work with defined levels of quality, safe, durable and affordable.
- Discuss solutions, from material selection through the relevant costing up equivalent alternatives.
- Determine costs, establishing precautions and solutions to construction errors in execution
- Technical evaluations of the different construction solutions, and their advantages and limitations
- Lectures 32
- Quizzes 8
- Duration 4 weeks
- Skill level All level
- Language English
- Students 45
- Certificate Yes
- Assessments Yes
1. CONCEPTUAL FRAMEWORK - TOTAL COST MANAGEMENT
2. PREVIOUS ADJUSTMENTS TO DEVELOPMENT OF THE ESTIMATION
- Factors influencing estimates
- Resources and tools for Process Equipment cost estimation
- Estimation adjustments – the location factors (productivity, prices and currency)
- Crews Calculation – Installation Mh
- Assumptions of Allowances
- Indirect Costs
- Owner’s Costs
- International standard of commercial terms
- How to Use The Cost Tables and Cost Curves
- Quiz M5a – 2
3. ROTATING EQUIPMENT ESTIMATION
4. HEAT TRANSFER EQUIPMENT ESTIMATION
5. PROCESS VESSEL & STORAGE TANKS ESTIMATION
6. WATER & WASTE TREATMENT EQUIPMENT ESTIMATION
7. MATERIAL HANDLE AND PROCESSING EQUIPMENT ESTIMATION
8. MISCELANEOUS EQUIPMENT ESTIMATION
9. BIBLIOGRAPHIC REFERENCES
100% Recommended - the Only course in the market with these features