Introduction:
This certified cost professional (CCP) course is designed to tremendously benefit cost engineers or any individual working within a cost control or project management environment who desires to expand and advance their proficiency in cost engineering.
The structured sessions aim to equip delegates with practical skills and knowledge, enhancing their capabilities to excel as cost engineers. Through the Certified Cost Professional (CCP) certification, participants will gain recognition of their expertise and a professional edge in the industry.
The CCP Training Course is a comprehensive program for professionals seeking apprenticeship in cost engineering and a guided path to CCP certification. With the Certified Cost Professional (CCP) Certification Study Guide embedded in the curriculum, participants are assured of rigorous preparation for obtaining their CCP certification and excelling in their careers.
Targeted Groups:
- Everyone who is part of any team that executes industrial projects.
- Cost controllers.
- Project engineers.
- Cost estimators.
- Project managers.
- Project cost engineers.
- Project control professionals.
- Contract administrators.
- Discipline leads.
- Members of the purchasing department.
- Members of a tendering team.
- Work preparators.
- All involved in technical projects, cost estimation, cost control, and contract review.
- Those who are associated with project planning and scheduling.
Certified Cost Professional Certification Importance:
Embarking on the journey to become a Certified Cost Professional (CCP) provides individuals with a prestigious certification demonstrating their cost and project management proficiency. The CCP certification is an investment in one's professional development. It signifies a commitment to excellence in the realm of cost engineering.
Course Objectives:
At the end of this certified cost professional (CCP) training course, participants will:
- Understand the cost constituents: the essential resources (material and labor) required to perform an activity or create an asset.
- Set actionable goals and objectives for planned endeavors.
- Grasp the fundamental steps in risk management and risk mitigation strategies.
- Calculate simple and compound interest rates and solve interest-related problems using formulas for essential single payments, uniform series, and gradients.
- Apply earned value management to report on previous performance and predict future performance metrics.
- Use various engineering economics tools to evaluate the feasibility of investments.
- Estimate and measure project progress and performance accurately.
- Recognize the significance of effective project management and scheduling for successfully delivering projects.
- Understand the essential definitions and terminology within the total cost management framework.
Targeted Competencies
By the end of this certified cost professional (CCP) program, participants competencies will be able to:
- Fundamental cost engineering skills and knowledge.
- Economic analysis and engineering economics.
- Project management and coordination.
- Expertise in cost estimating and control.
Course Content:
Unit 1: The Role of the Cost Engineer:
- Introduction to cost engineering.
- The pivotal role of a cost engineer.
- Overview of Total Cost Management (TCM) essentials.
Unit 2: Cost Estimating Methodologies and Classifications:
- Identification and analysis of cost elements.
- Pricing strategies for various project components.
- Material.
- Labour.
- A detailed approach to cost estimating in materials and labor.
Unit 3: Statistics, Economics, and Finance:
- Understanding economic costs.
- Basic principles of engineering economics.
- Application of statistics and probability in cost estimation.
Unit 4: Planning, Cost Control, and Progress Measurement:
- Strategic planning for projects, including cost and schedule forecasting.
- Comprehensive scheduling techniques and methodologies.
- Progress measurement and earned value analysis for accurate performance assessment.
- Earned value for variable budgets.
- Tracking cost and schedule performance.
Unit 5: Cost Engineering Fundamentals within Project Management:
- Insights into performance and productivity management.
- Fundamentals of project management.
- Effective project organization structures.
- Project planning.
- Essentials of project labor cost control.
- The role of leadership and management in a project-oriented environment.
Unit 6: Cost Management, Quality Management, Value Management, and Contract Management:
- Effective allocation of equipment, parts, and tools.
- Incorporating activity-based cost management techniques.
- Introducing quality management and value analysis in manufacturing.
- Quality management.
- Value analysis.
- Understanding strategic asset management principles for long-term success.
Unit 7: Risk Management and Common Cost Engineering Practices:
- Techniques for calculating net present worth and equivalent uniform annual cost or benefit.
- Strategic considerations for contracting in capital projects.
- Fundamentals of descriptive statistics for data analysis.
- Comprehensive risk management approaches for project delivery.
