Earned Value Management – Best Practices

€ 700.00 € 500.00


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 a conceptual framework, which places them within 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 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)

AEP2"(AEP) AACE International Approved Education Provider is designed to provide professionals and management costs and their companies with appropriate identification of professional development courses. The program also identifies individual instructors whose past experience qualifies to teach or Supervise course materials are presented.
The higher levels of the AACE International to grant the status of AEP and its ongoing review of the services company's activities ensure AEP quality programming, resulting in satisfied participants. "Taken from ......... from: http://www.aacei.org/educ/aep/"


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 with 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 for 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

    Course Features

    • Lectures 25
    • Quizzes 0
    • Duration 4 Weeks
    • Skill level All level
    • Language Spanish
    • Students 0
    • Certificate Yes
    • Assessments Yes
    Carlos Fuenmayor
    Carlos Fuenmayor is the founder of Caf-Corporation VE C.A. (Venezuela) and Caf-Corporation US Inc. He is a M.Sc.; Industrial Eng. Bachelor Degree with more than 30 years’ experience in Oil & Gas Industry, petrochemical and mining for Owners and Consulting Engineering Companies. He is experienced in computerized environment of Tendering, Planning / Cost Control / Estimation on Development Field Projects, as well in Turnkey and Construction works related to Oil & Gas Industry, Piping works, Flowlines, Petrochemical, Refineries, Power Plants, Mining Plants and Infrastructure. His experience includes Conceptual phase to detailed phase, having contact with construction site, man-power and equipment deployment requirement, fabrication of piping, structure steel, vessels, heavy lifts, etc. He has recent experience acquired in LNG Technologies Conceptual Cost Advisory as Mozambique Program Cost Estimator Lead for Upstream and Onshore Facilities. Also in Floating LNG (FLNG) and Offshore Production Structures. Carlos is member in good standing with the AACE and PMI. He gained his expertise working along leading engineering and construction professionals within Venezuela, Canada, México, Africa, Kazakhstan and Europe.
    Euthimios (Timos) is an engineer, economist, project and finance management expert, and administrator. Timos has wide international experience in project management, Total Cost Management, and corporate administration and management. During his career he has deployed Project Management Information systems, implemented Management Training , and rolled out procedures for the management of major infrastructural projects in Ferrovie dello Stato, Italfer Systav Ferrovie Sud Est, Alenia, Selenia Spazio, Otomelara, CTIP, TPL AV and others. He has worked as Project Control Manager in Technipetrol (Technip Italia) and SAIPEM; as Senior Manager in Ernst & Young; Managing Director of Project Management Associates Ltd, Milan; General Director of Fondazione Banca Del Salento, Lecce, Italy; Head of Project Control & Management Control Saipem, Nigeria; Group General Manager, Finance, Admin. & Services, Intels Group Nigeria; CEO Intels Finance Limited, London, Switzerland and Nigeria; Chairman of ICT Management Systems, Lagos, Nigeria; Vice Chairman of West African Holdings Limited, Banjul, The Gambia; Head of Projects Control Department of Petrobel in Cairo Egypt; and Head of Cost Engineering, Estimating, Benchmarking and Cost Database Management, Department of ENI SpA/DOT/DEV. Most recently Timos has been working for ENI as Senior Project Manager, within the Integrated Gas Projects Management Department. He has been implementing mega-project management models for Integrated Gas Projects, characteristically being huge and significant undertakings. He has had deep involvement in the banking restructuring process in Italy in 1992, in development banking in the south of Italy from 1994 to 2000 and development banking in Emerging Markets in the years 2000 to 2007. Timos has a deep and consolidated knowledge of the Oil & Gas market, from engineering contracting, to EPC contractors, and oil companies.


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    € 700.00 € 500.00
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