Estimating Training Seminars

Estimating A-to-Z for the Process Industries

Total Cost Management (TCM)

Capital Project Cost Control Using Total Cost Management

Project Decision Analysis and Risk Management

Project Cost Uncertainty: Contingency, Reserves, and Escalation

Total Cost Management (TCM)

(including cost engineering, estimating, and cost control)

Overview

This 3-day training course will provide a comprehensive introduction to AACE International’s Total Cost Management Framework, which documents an integrated approach to portfolio, program, and project management.

The identification and evaluation of capital investment options, development of capital project scope, and subsequent management of project execution should all be part of an integrated process for an owner company. AACE International calls this process Total Cost Management (TCM).

This course will cover the following TCM elements:

• Evaluation of capital project investment options

• Investment risk analysis and decision making

• Development of project scope and project execution plans focusing on cost estimate development

• Cost/Schedule control of capital projects during execution

• Closing the loop through knowledge management

Who Should Attend

This seminar will be beneficial to those involved in one or more functions related to capital project business development and project management; including business development, engineering, finance, accounting, procurement, project management, project controls, estimating, scheduling, etc.

Learning Objectives

The objective of the course is for each participant in the capital project process to understand how all cost engineering functions should work together in an integrated process focused on cost effective capital investments and projects. Each participant will gain an understanding of the skills, methods, best practices and tools that maximize capital project investment performance.

Typical Course Outline

Day 1

• TCM Process Overview and Capital Project Effectiveness

• Strategic Asset Management and Project Control

• Asset and Project Lifecycles, Portfolios, and Programs

• Project Development (Phase-Gate) Processes

• Organization and Leadership for TCM

• Capital Investment Options Identification and Development

• Capital Investment Decisions and Risk Analysis

• Value Improving Practices (General)

• Knowledge Management

• Establishing and Communicating Goals and Objectives

• Project Planning

Day 2

• Cost Estimating

• Estimate Classification

• Structuring the Estimate

• Estimating Methodologies

• Documenting the Estimate

• Risk Analysis, Contingency Estimating, Escalation Estimating

• Estimating for Value Improving Practices

• Estimate/Schedule Integration

• Project Historical Databases

• Quality Management (Review, Validation, Process Improvement)

Day 3

• Cost Control versus Accounting

• Establishing Control Baselines

• Initiating Control Systems

• Measuring Costs and Resources

• Measuring Progress and Assessing Performance

• Cost/Schedule Integration

• Cost Forecasting

• Change Management

• Project Close-Out

The Total Cost Management seminar can be customized to meet your needs.

We can provide Executive 4-Hour seminars, as well as 1 or 2 Day seminars on Total Cost Management.

Please contact Larry Dysert for additional information.