Certified Cost Professional (CCP)

Introduction:

This course is beneficial to any cost engineer or individual who is working in a cost control or project management environment and wants to grow and advance their knowledge of cost engineering and fast-track their career. The aim of each session is to equip delegates with practical skills and knowledge to become better cost engineers.

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 purchase department.
• Members of a tendering team.
• Work preparators.
• All who are involved in technical projects, cost estimation, cost control and contract review.
• Those who are associated with project planning and scheduling.

Course Objectives:

At the end of this conference the participants will be able to:

• Understand what makes up cost i.e., the basic resources (material, labor, etc.) that are needed to perform an activity or create an asset.
• Learn to set goals and objectives that planned endeavors must meet.
• Understand the basic steps of a risk management process and risk mitigation.
• Learn to calculate simple and compound interest rates, as well as solve interest problems using basic single payments, uniform series, and gradient formulas.
• Become skilled in using earned value to report on past performance and predict future performance.
• Calculate the feasibility of an investment using various engineering economics tools and techniques.
• Estimate and measure the progress and performance of a project.
• Understand the role of effective project management and scheduling for successful project delivery.
• Understand the basic definitions and terminologies used in the total cost management framework.

Targeted Competencies:

• Basic cost engineering skills and knowledge
• Economic analysis
• Project management
• Cost estimating and control

Course Content:

Unit 1: The role of the cost engineer

• Introduction to cost engineering
• The role of the cost engineer
• The basics of Total Cost Management (TCM)

Unit 2: Cost estimating methodologies and classifications

• Cost elements
• Pricing
• Material
• Labour
• Cost estimating

Unit 3: Statistics, economics, and finance

• Economic costs
• Basic engineering economics
• Statistics and probability

Unit 4: Planning, cost control, and progress measurement

• Planning
• Scheduling
• Progress measurement and earned value
• Earned value for variable budgets
• Tracking cost and schedule performance

Unit 5: Cost engineering fundamentals within project management

• Performance and productivity management
• Project management fundamentals
• Project organization structure
• Project planning
• Project labour cost control
• Leadership and management of project people

Unit 6: Cost management, quality management, value management, and contract management

• Equipment, parts, and tools
• Activity-based cost management
• Process and discrete product manufacturing
• Quality management
• Value analysis
• Strategic asset management

Unit 7: Risk management and common cost engineering practices

• Net present worth and equivalent uniform annual cost or benefit
• Contracting for capital projects
• Basic concepts in descriptive statistics
• Risk management