Advanced Cost Estimation – Electricity and Instrumentation Works

€ 800.00 € 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)




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 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

  1. Aplicar los conocimientos adquiridos para resolver problemas relacionados con el costo fuente de elemento y definición.

Course Features

  • Lectures 47
  • Quizzes 4
  • Duration 50 hours
  • Skill level All level
  • Language Spanish
  • Students 0
  • Certificate No
  • Assessments Yes
author avatar
Carlos Fuenmayor es el fundador de Caf-Corporation VE C.A. (Venezuela) y Caf-Corporation US Inc. Es un MSc .; Ing. Industrial con más de 30 años de experiencia en la industria de Oil & gas, petroquímica y minería para propietarios y empresas consultoras de ingeniería. Tiene experiencia en entornos informatizados de licitación, planificación / control de costos / estimación de proyectos de campo de desarrollo, así como en obras llave en mano y de construcción relacionadas con Petróleo e Industria del gas, tuberías, líneas de flujo, petroquímicas, refinerías, centrales eléctricas, plantas mineras e infraestructura. Su experiencia incluye desde la fase Conceptual hasta la fase detallada de proyectos, teniendo contacto con el sitio de construcción, los cómputos de materiales, HH y equipos, la fabricación de tuberías, estructuras de acero, recipientes de presión, grúas pesadas, etc. Tiene también alta experiencia en LNG Technologies Conceptual Cost Advisor como Líder Estimador de Costos del Programa de Mozambique para Instalaciones Upstream y Onshore. También en LNG flotante (FLNG) y estructuras de producción costa afuera. Carlos es miembro de buena reputación con la AACE y el PMI. Obtuvo su experiencia trabajando junto a los principales profesionales de la ingeniería y la construcción en Venezuela, Canadá, México, África, Kazajstán y Europa.


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€ 800.00 € 500.00

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