Cost engineering

Controlling your cost is just as important to deliver a project within time and budget.

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Nova 100 cost engineering

Cleopatra has built-in knowledge management so you never have to search for the information you are looking for. Accurate Cost Management Cleopatra offers an integrated Cost Management module which seamlessly works together with the Cost Estimating module. That way you can easily recast your estimate into a cost management document.

With the Cost Management module you can perform advanced forecasting, earned value management, change management and much more. In-depth Project Analytics Whether you work on a greenfield, brownfield, turnaround or maintenance project, Cleopatra is ready to support you. Through project analytics you will have an overview on your project portfolio.

Templates and reports can incorporate business rules and save valuable time in delivering your results. The quality of your cost estimates depends heavily on your cost data. Having a complete and well-structured dataset makes your life as a cost estimator much easier.

The included labor norms and cost data is considered an industry standard and covers a wide range of disciplines for various industries. Users can choose from parametric equipment models to detailed unit-rate data for all typical project disciplines. With the central database architecture of Cleopatra, your knowledge remains secure and available when you need it.

Always up-to-date Cost Engineering provides regular updates of the CESK Data to ensure the information reflects the latest market conditions. Because the data is open and transparent, users can also add their own knowledge and data to capture and maintain the information that is typical for your projects. Even your own cost library, whether in Excel or MS Access, can easily be converted into a Cleopatra knowledgebase.

Cost Engineering Academy Sharing knowledge and expertise Cost engineering is at the heart of everything we do. As a result we are passionate to share our expertise with others. The Cost Engineering Academy has various courses in the profession of cost engineering. Whether you want to learn more about cost estimating or cost control, the Cost Engineering Academy has the right program for you. Cost Engineering Academy.

Become Certified As part of the Academy course program, participants can choose to enroll in the Cost Engineering Skills and Knowledge certification course. This means that all our courses have been carefully examined and approved to the highest standards in the industry. All our trainers are certified themselves and will share practical examples from years of experience.

As an additional benefit, we can tailor the course to include those topics that are specifically interesting to your business. Cost Engineering Academy Register for the Cost Engineering Academy Find out which courses are available and register directly for the course of your interest. To deliver an effective project plan, you need quality, targeted base cost and duration estimates. However, all plans are uncertain and, at early scope definition phases, so too is the scope.

So how are you going to deal with all the uncertainty? In many industries, cost engineering is synonymous with project controls. As the title "engineer" has legal requirements in many jurisdictions i. Texas, Canada [3] , the cost engineering discipline is often renamed to project controls. A cost engineer is "an engineer whose judgment and experience are utilized in the application of scientific principles and techniques to problems of estimation; cost control; business planning and management science; profitability analysis; project management; and planning and scheduling.

One key objective of cost engineering is to arrive at accurate cost estimates and schedules and to avoid cost overruns and schedule slips. Cost engineering goes beyond preparing cost estimates and schedules by helping manage resources and supporting assessment and decision making. Most people have a limited view of what engineering encompasses. The most obvious perception is that engineering addresses technical issues such as the physical design of a structure or system.

However, beyond the physical manifestation of a design of a structure or system for example, a building , there are other dimensions to consider such as the money, time, and other resources that were invested in the creation of the building. Cost engineers refer to these investments collectively as "costs". Cost engineering, then, can be considered an adjunct of traditional engineering.

To assist further in clarifying this, let us reference the Total Cost Management Framework shown in Figure 1. It also serves as an invaluable checklist to ensure that potential gaps are identified and then closed. These high level processes are further subdivided into sub-processes below this framework. However, there is normally a large amount of definition and preparation work required during the Strategic Asset Management Process.

I deem this to be primarily the work of the Cost Engineers who, together with Project Controls and the rest of the project team, must ensure that everything is correctly set up for effective project control. Areas to be addressed are understanding of the contracting strategy, systems to be used especially for forecasting, resources to be secured, reporting needs, etc.

I must also say that in my career Quantity Surveying was always included in the Project Control arena as they also have a unique and important role to play during project execution when it comes to progress and payment assessments. I must reiterate that the statements above are my personal view and can be interpreted differently by others.

The Cost Engineer plays a key integration role on projects. The Cost Engineer must liaise and co-ordinate primarily with the Business Manager, the Project Manager and the Engineering Manager to make sure all parties are aligned at all times regarding cost, schedule and scope. The Cost Engineer is the eyes and ears of the project and must stay alert for any critical bits of information which could potentially affect the project. Communication is crucial, as is the ability to process information and present it in a way that is meaningful, understandable and facilitates management decisions, especially the project end-of-job information.

No one likes bad news, especially Project Managers who have to present this to the various boards. However, the Cost Engineer must believe in, and stand by his findings.

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Top 5 Skills of a Cost Controller

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