Construction Cost Estimating and Cost Control

Go to Course: https://www.coursera.org/learn/construction-cost-estimating

Introduction

**Course Review: Construction Cost Estimating and Cost Control on Coursera** If you're looking to deepen your understanding of the construction industry and boost your project management skills, look no further than the "Construction Cost Estimating and Cost Control" course offered on Coursera. With expert insights from seasoned professionals in the field, this course is a terrific resource for both newcomers and experienced practitioners wanting to refine their expertise in cost estimation and control. ### Overview The course begins with an introductory module led by Professor Odeh, who sets the stage for what learners can expect in terms of structure and learning outcomes. The focus shifts to the various stages of design within a construction project and how effective cost estimation starts from conceptual design through to detailed phases. Key topics include: - Types of cost estimates and their accompanying tools and techniques - Quantity take-offs and measurement practices - Pricing strategies that account for labor and material costs - The process of building a comprehensive estimate - The intricacies of procurement and post-contract cost estimation - Essential cost control methods including the Earned Value Method (EVM) - Strategies for managing project cash flow ### Course Structure and Content The course is methodically structured around essential aspects of cost estimation and control. Here’s a brief breakdown of what you can expect: 1. **Understanding Design in the Construction Industry**: Ian Taylor lays the groundwork by detailing the stages of design, giving students a thorough understanding of how design impacts cost. 2. **Types of Cost Estimates**: Professor Odeh discusses different cost estimation types, using practical tools and methods vital for generating accurate estimates. 3. **Quantity Take-Off and Measurement**: James Sneath dives deep into estimating specifics, including cut-and-fill costs and techniques employed in calculating costs for various structural components. 4. **Building the Estimate**: Practical insights into constructing a detailed estimate are provided, giving learners a realistic application of all their previous teachings. 5. **Procurement and Post-Contract Overview**: Understanding these phases is essential for managing costs effectively, especially when dealing with changes post-contract. 6. **Cost Control Methods**: Professor Odeh provides valuable techniques for controlling costs, vital for maintaining project budgets and timelines. 7. **Technological insights**: The course also covers emerging trends in technology that are revolutionizing cost estimation and control, including Building Information Modeling (BIM) and 5D estimating systems. ### Real-World Applications Throughout the course, instructors incorporate case studies and real-world examples that illustrate the principles at play. James Sneath, Ben Miller, and other experienced commentators add depth with practical tips based on their extensive careers, enhancing the learning experience by connecting theoretical concepts to actual project scenarios. ### Recommendations This course is strongly recommended for: - **Construction Managers**: If you're on a path to becoming a construction manager or are already working in the field, mastering cost estimation and control will be invaluable in your career progression. - **Project Managers**: Those overseeing large projects can benefit significantly from understanding budgeting and cash flow management. - **Cost Estimators**: A must for future cost estimators looking to establish a solid foundation in industry practices. - **Students and Recent Graduates**: You're at an ideal juncture to gain essential skills that will set you apart in the job market. ### Conclusion The "Construction Cost Estimating and Cost Control" course on Coursera offers a comprehensive insight into managing costs within construction projects. With engaging lectures, expert instructors, and a plethora of real-world applications, it’s an excellent way to advance your career in this critical field. Whether you're looking to refine your current skills or starting from scratch, this course will undoubtedly provide you with foundational knowledge and practical applications essential for successful project execution. Don’t hesitate to enroll and elevate your understanding of construction cost management!

Syllabus

Construction Cost Estimating and Cost Control Overview

Professor Odeh describes the course and provides an overview of what will be covered. Also covered is an introduction to Construction Cost Estimating and Cost Controls.

Ian Taylor, project manager for Turner and Townsend, introduces the stages of design in a construction project.

Professor Odeh describes the types of cost estimates in a construction project. Also covered in this module are the tools and methods used to create estimates.

James Sneath, Associate Director of Cost Management for Turner and Townsend, and Ian Taylor, Project Manager for Turner and Townsend, discuss Quantity Take Off and Measurement. Estimating cut and fill costs is taught along with a detailed example of using cut and fill software. Also covered in this module is the topic of deep foundations, concrete foundations and structural steel, measurement, masonry, glass curtain wall, facade and wall finishes.

James Sneath, Associate Director of Cost Management for Turner and Townsend, discusses pricing, labor costs and equipment costs. Topics include, cost materials, formwork, reinforcing steel and concrete. Money component and productivity component is discussed in labor costs, as well as estimating equipment costs.

James Sneath, Associate Director of Cost Management at Turner and Townsend, Inc., illustrates how to build an estimate. Sneath does a deep dive into a schematic design project.

James Sneath, Associate Director of Cost Management for Turner and Townsend, discussed the procurement stage of a construction projects and they typical involvement of a cost manager or cost estimator.

James Sneath, Associate Director of Cost Management for Turner and Townsend Construction, discusses post contract and cost estimation with a construction project. Also covered in this module are cost reporting, change orders and communication and meetings.

Professor Odeh introduces construction cost control and the work segments contained in a project.

In this module, Professor Odeh goes deeper into the Earned Value Method of Cost Control.

Ian Taylor, Project Manager at Turner and Townsend, Inc., introduces cost management close out and punch-list review.

James Sneath, Associate Director of Cost Management at Turner and Townsend, Inc., talks about cost estimation in general practice. The unit starts with tips in cost estimating and cost management and ends with a discussion of the international roles of cost managers.

Ben Miller, Project Manager at Gilbane Building Company, discusses contracts and cash flows. Revenues, expenses and how they impact projects as a whole will be covered.

Kevin Labrecque, Senior Vice President at Harper Limbach LLC discusses technology trends in cost estimating and cost control. Topics include 5D Estimating Systems (BIM), estimating software, technology workflows, and implementation.

Christopher Toomey, Senior Vice President at AECOM Global Programs, discusses cost control for large programs.

Sam Spata, Owner of Method Lean, presents this module on Lean In Cost Control.