Cost Control for Construction Projects

Because Construction Projects are complicated by nature, companies are very interested in not losing control. Therefore, for time monitoring, there is a time schedule, for Quality Control, there is a QA/QC plan, and for cost, there is a cost control process.

Accordingly, the Cost control process should monitor the Project’s progress and report any deviation from the budget cost. However, there is no simple way of doing cost control where we can use smart techniques without expensive tools or software.

Why is cost control so important?

Cost control for engineering and construction projects is imperative. It is not only monitoring or watching the cost but also performing analysis to make changes at the point of correction rather than waiting until the end of the project.

“It is not that the budget was exceeded, it is that the client was not made aware of the budget being exceeded until the end of the project”

Good cost control must include cost estimating, cost accounting, project cash flow, company cash flow, direct labor costing, and other tactics such as incentives, penalties, and profit-sharing.

Who is this course for?

• Planning Engineers.
• Cost Engineers.
• Q.S Engineers.
• Site Engineers.
• Project Managers.
• Construction Managers.
• Anyone who has some experience in construction projects and would like to learn cost control.

What will you study and what you will not study in this course?

You Will Study

1. How to create a cost control process from scratch.
2. How to distribute the estimated cost using the project schedule.
3. How to calculate the cash in and cash out for the project.
4. How to link progress updates to the budget cost.
5. How to update actual costs smartly.
6. How to create a summary report for all projects.
7. How to find activities overrun for materials, labor, equipment, and subcontractors.
8. How to create a detailed cost report for all projects.
9. How to create any other custom report using the data model.
10. How to use the same technique of data model in all other tasks.

You Will not study

1. How to estimate the cost of materials, labor, equipment, and subcontractors. This is an estimation process not cost control and it is a pure QS job.

2. How to create a project time schedule, and there are other courses on our website for that.

Snap-shots of what you’ll be able to create at the end of this course

1- Cash In and Cash out Report

2- Cost Control Summary Report

3- Cost Control Detailed Report

Bonus

As you enroll in this course, you’ll receive the “Cost control in construction projects” manual e-book

How does this course work?

This course is designed to provide you with a comprehensive understanding of the cost control process, and we have organized it into 12 chapters. You will have access to all the necessary materials, including pdf files and video tutorials, to guide you through each step. In addition, we will provide you with excel sheet files to apply what you have learned to your own projects.

To create an effective cost control process, there are six essential steps you must follow, including:

• Developing a cost estimation sheet.
• Adding the project planned dates to the data model.
• Linking the cost estimation to the schedule.
• Updating the schedule and automatically updating the cost plan.
• Updating the actual costs using our smart sheet.
• Comparing the budget cost to the actual costs and identifying any activities with a cost overrun.

By following these steps, you will be able to monitor and control project costs effectively, regardless of whether you are a planning engineer or not. This course will provide you with the knowledge and tools necessary to succeed in cost control, and we believe it will be a valuable addition to your skill set.

Using our smart data modeling system will make your everyday work easier

Certificate of Completion

Completing this course and receiving the certificate of attendance can enhance your professional reputation and provide a competitive advantage in the job market. The certificate serves as tangible evidence of your newly acquired knowledge and skills, and can demonstrate to potential employers or clients your commitment to professional development.

In addition, having completed this course and earned the certificate can open up new opportunities for career advancement or career change. It can also serve as a foundation for pursuing more advanced courses or certifications in the field of project management.

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Cost Control Course Contents:

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