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There are 16 modules in this course
This course introduces the types of cost estimation from the conceptual design phase through the more detailed design phase of a construction project. In addition, the course highlights the importance of controlling costs and how to monitor project cash flow. Learners will work on a break-even analysis of construction tasks in a project. The course begins with Professor Odeh providing an overview of what will be covered. Next, learners explore the stages of design in a construction project. Professor Odeh then describes the types of cost estimates in a construction project, and the tools and methods used to create estimates.
By the end of this course, you will be able to:
-Acquire the fundamentals of cost estimation and the design phase to perform cost estimation
-Learn about cost control and cost control methods, emphasizing the Earned Value Method or EVM
-Understand the close out period of the project by exploring the punch lists, final approval, and turnover to the client
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.
What's included
1 video3 readings1 discussion prompt1 plugin
Show info about module content
1 video•Total 11 minutes
Introduction to Cost Estimating and Cost Control•11 minutes
3 readings•Total 30 minutes
Academic Honesty Policy•10 minutes
Discussion Forum Etiquette•10 minutes
Construction Cost Estimating and Cost Control: Glossary •10 minutes
1 discussion prompt•Total 10 minutes
Introduction to Cost Estimating and Cost Control•10 minutes
1 plugin•Total 15 minutes
Pre-course Survey•15 minutes
Understanding Design in the Construction Industry
Module 2•1 hour to complete
Module details
Ian Taylor, project manager for Turner and Townsend, introduces the stages of design in a construction project.
What's included
1 video1 reading1 assignment1 discussion prompt
Show info about module content
1 video•Total 12 minutes
Design In The Construction Industry•12 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
1 assignment•Total 15 minutes
Understanding Design•15 minutes
1 discussion prompt•Total 10 minutes
Understanding Design•10 minutes
Introduction to the Types of Cost Estimates
Module 3•1 hour to complete
Module details
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.
What's included
3 videos1 reading2 assignments1 discussion prompt
Show info about module content
3 videos•Total 30 minutes
Overview of the Types of Cost Estimates•8 minutes
Cost Indices•10 minutes
Cost-Capacity Factor•12 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
2 assignments•Total 35 minutes
Cost Estimates Quiz•15 minutes
Cost Estimates Work Problem•20 minutes
1 discussion prompt•Total 10 minutes
Cost Indices•10 minutes
Quantity Take-Off and Measurement
Module 4•3 hours to complete
Module details
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.
Concrete Foundation and Concrete Properties•13 minutes
Concrete Formwork•6 minutes
Concrete Takeoff: Parking Lot Example•7 minutes
Concrete Takeoff: Skyscraper Example•9 minutes
Quantifying rebar Walkthrough•7 minutes
History of Structural Steel•10 minutes
Steel Sections in Design•5 minutes
Structural Steel Takeoff Example•4 minutes
5 readings•Total 50 minutes
Lecture Handout•10 minutes
Lecture Handout•10 minutes
Lecture Handout•10 minutes
Lecture Handout•10 minutes
Lecture Handout•10 minutes
1 assignment•Total 30 minutes
Quantity Take-Off and Measurement•30 minutes
1 discussion prompt•Total 10 minutes
Quantity Take-off and Measurement•10 minutes
Pricing
Module 5•2 hours to complete
Module details
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.
What's included
5 videos1 reading1 assignment
Show info about module content
5 videos•Total 58 minutes
Cost of Materials and Formwork•21 minutes
Concrete Material: Reinforcing Steel and Concrete•4 minutes
Money Component•7 minutes
Productivity Component and Examples•14 minutes
Estimating Equipment Costs•12 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
1 assignment•Total 30 minutes
Pricing•30 minutes
Building the Estimate
Module 6•1 hour to complete
Module details
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.
What's included
6 videos2 readings1 assignment
Show info about module content
6 videos•Total 53 minutes
Estimate Classification, Methods and Formats•11 minutes
Design Estimate Project•8 minutes
Schematic Design Estimate Demo•9 minutes
Schematic Design: A Deeper Dive•5 minutes
Building and Finalizing the Estimate•9 minutes
Checks and Due Diligence•11 minutes
2 readings•Total 20 minutes
Lecture Handout•10 minutes
Lecture Material - Schematic Design•10 minutes
1 assignment•Total 15 minutes
Building the Estimate•15 minutes
Procurement
Module 7•1 hour to complete
Module details
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.
What's included
2 videos1 reading1 assignment
Show info about module content
2 videos•Total 20 minutes
General Procurement: Pre-Bid Estimate and Bid Documentation•8 minutes
Bid Stage, Bid Returns and Levelling•12 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
1 assignment•Total 30 minutes
Procurement•30 minutes
Post Contract and Cost Estimation within a Project
Module 8•1 hour to complete
Module details
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.
What's included
3 videos1 reading1 assignment
Show info about module content
3 videos•Total 35 minutes
Cost Reporting Overview•14 minutes
Cost Reporting Examples•13 minutes
Change Orders and Communication•8 minutes
1 reading•Total 10 minutes
Lecture Slides•10 minutes
1 assignment•Total 15 minutes
Post-Contract Quiz•15 minutes
Construction Cost Control Methods
Module 9•1 hour to complete
Module details
Professor Odeh introduces construction cost control and the work segments contained in a project.
What's included
2 videos1 reading1 assignment
Show info about module content
2 videos•Total 20 minutes
What is Cost Control•8 minutes
Defining Methods of Cost Control•12 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
1 assignment•Total 15 minutes
Cost Control•15 minutes
Earned Value Method (EVM)
Module 10•2 hours to complete
Module details
In this module, Professor Odeh goes deeper into the Earned Value Method of Cost Control.
What's included
5 videos1 reading2 assignments
Show info about module content
5 videos•Total 57 minutes
Defining EVM•9 minutes
EVM Parameters•11 minutes
Performance Examples•12 minutes
EVM Favorable Performance•12 minutes
Calculating EVM•12 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
2 assignments•Total 45 minutes
Earned Value Method•15 minutes
Work Problem EVM•30 minutes
Close Out Period
Module 11•1 hour to complete
Module details
Ian Taylor, Project Manager at Turner and Townsend, Inc., introduces cost management close out and punch-list review.
What's included
2 videos1 reading1 assignment
Show info about module content
2 videos•Total 17 minutes
Close Out Punch List Review•6 minutes
Close Out Activities•11 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
1 assignment•Total 15 minutes
Close Out Period•15 minutes
Cost Estimation in Practice
Module 12•1 hour to complete
Module details
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.
What's included
3 videos1 reading1 assignment
Show info about module content
3 videos•Total 26 minutes
Cost Estimating in General Practice•7 minutes
Tips in Cost Estimating and Cost Management•9 minutes
Roles and Responsibilities of Cost Managers•9 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
1 assignment•Total 15 minutes
Cost Estimation•15 minutes
Project Cash Flow
Module 13•3 hours to complete
Module details
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.
What's included
12 videos2 readings1 assignment
Show info about module content
12 videos•Total 107 minutes
Cash Flow Method•14 minutes
Accrual Method•8 minutes
Contractor Cash Flow•7 minutes
Charting Cash Flow•4 minutes
Calculating Billing•7 minutes
Payment Cycle•7 minutes
Payment Cycle Drivers•6 minutes
Payment Cycle Delays•13 minutes
Schedule of Value•11 minutes
Accelerating Revenue•7 minutes
Front Loading•8 minutes
Delaying Expenses•15 minutes
2 readings•Total 20 minutes
Lecture Handout•10 minutes
Lecture Handout•10 minutes
1 assignment•Total 30 minutes
Project Cash Flow•30 minutes
Technology Trends in Cost Estimating and Cost Control
Module 14•1 hour to complete
Module details
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.
What's included
5 videos1 reading1 discussion prompt
Show info about module content
5 videos•Total 65 minutes
5D Estimating Systems (BIM)•13 minutes
Estimating Software in Action•12 minutes
Workflows•16 minutes
Implementation Perspective•16 minutes
Next Steps•9 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
1 discussion prompt•Total 10 minutes
Technology Trends in Cost Estimating and Cost Control•10 minutes
Program Cost Estimating
Module 15•1 hour to complete
Module details
Christopher Toomey, Senior Vice President at AECOM Global Programs, discusses cost control for large programs.
What's included
3 videos1 reading1 assignment
Show info about module content
3 videos•Total 26 minutes
Program Cost Control•7 minutes
Defining the Cost of a Capital Program•11 minutes
Useful Tools for Cost Control•8 minutes
1 reading•Total 10 minutes
Lecture Handout•10 minutes
1 assignment•Total 30 minutes
Cost Control for Large Programs•30 minutes
Lean in Cost Control
Module 16•2 hours to complete
Module details
Sam Spata, Owner of Method Lean, presents this module on Lean In Cost Control.
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Reviewed on Jan 15, 2020
It's a comprehensive course for learning fundamentals of construction management, it's provide highly practical knowledge in an easy-understable way for non-engineers.
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MM
5·
Reviewed on Apr 17, 2020
Excellent professional teaching and it was immense of good experience which I gained in our Colombia University...Heartfelt thanks for the entire team
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AM
5·
Reviewed on Dec 4, 2023
I had a fantastic experience with the course! The instructors were skilled and made learning the concepts a breeze. The training was incredibly helpful.
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