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.
This course is part of the Construction Management Specialization
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Construction Management SpecializationColumbia UniversityAbout this Course
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Course 3 of 5 in the
Beginner Level
There is no prior knowledge that is needed; however, basic knowledge of materials, labor productivity and excel would be beneficial.
Approx. 19 hours to complete
English
Subtitles: French, Portuguese (European), Russian, English, Spanish
What you will learn
The fundamentals of cost estimation and the design phase to perform cost estimation
How to conduct the close out period of the project by exploring the punch lists, final approval, and turnover to the client
The cost control methods emphasizing the Earned Value Method
Skills you will gain
- Cash Flow
- Cost
- Cost Control
- Cost Estimate
Flexible deadlines
Reset deadlines in accordance to your schedule.
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Course 3 of 5 in the
Beginner Level
There is no prior knowledge that is needed; however, basic knowledge of materials, labor productivity and excel would be beneficial.
Approx. 19 hours to complete
English
Subtitles: French, Portuguese (European), Russian, English, Spanish
Offered by
Columbia University
For more than 250 years, Columbia has been a leader in higher education in the nation and around the world. At the core of our wide range of academic inquiry is the commitment to attract and engage the best minds in pursuit of greater human understanding, pioneering new discoveries and service to society.
Syllabus - What you will learn from this course
1 hour to complete
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.
1 hour to complete
1 video (Total 11 min), 2 readings
1 hour to complete
Understanding Design in the Construction Industry
Ian Taylor, project manager for Turner and Townsend, introduces the stages of design in a construction project.
1 hour to complete
1 video (Total 12 min)
1 hour to complete
Introduction to the Types of Cost Estimates
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.
1 hour to complete
3 videos (Total 30 min)
3 hours to complete
Quantity Take-Off and Measurement
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.
3 hours to complete
14 videos (Total 116 min)
1 hour to complete
Pricing
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.
1 hour to complete
5 videos (Total 58 min)
1 hour to complete
Building the Estimate
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.
1 hour to complete
6 videos (Total 53 min)
1 hour to complete
Procurement
1 hour to complete
2 videos (Total 20 min)
1 hour to complete
Post Contract and Cost Estimation within a Project
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.
1 hour to complete
3 videos (Total 35 min)
1 hour to complete
Construction Cost Control Methods
Professor Odeh introduces construction cost control and the work segments contained in a project.
1 hour to complete
2 videos (Total 20 min)
2 hours to complete
Earned Value Method (EVM)
In this module, Professor Odeh goes deeper into the Earned Value Method of Cost Control.
2 hours to complete
5 videos (Total 57 min)
1 hour to complete
Close Out Period
Ian Taylor, Project Manager at Turner and Townsend, Inc., introduces cost management close out and punch-list review.
1 hour to complete
2 videos (Total 19 min)
1 hour to complete
Cost Estimation in Practice
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.
1 hour to complete
3 videos (Total 26 min)
2 hours to complete
Project Cash Flow
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.
2 hours to complete
12 videos (Total 107 min)
1 hour to complete
Technology Trends in Cost Estimating and Cost Control
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.
1 hour to complete
5 videos (Total 65 min)
Reviews
- 5 stars74.92%
- 4 stars20.24%
- 3 stars3.29%
- 2 stars0.76%
- 1 star0.76%
TOP REVIEWS FROM CONSTRUCTION COST ESTIMATING AND COST CONTROL
by JBMay 21, 2017
Good course, and I agree with a lot of the points. Being active in the industry I was hoping to walk away with new techniques and skill sets. I feel the class was more of a refresher of what we do.
by MMMay 16, 2020
I dont think i wouldve got this opportunity in any online coachinig website. This is really going to help me when i graduate and start working. With great practical knowledge.
by ASDec 15, 2017
I thoroughly enjoyed the detailed explanations provided by Professor Odeh and the professionals from Turner & Townsend. My most favourite part was the lectures of Sam Spata and Ben Miller.
by MMApr 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
About the Construction Management Specialization
The Construction Management specialization is curated for professionals in the construction and civil engineering industry looking to advance their careers. Through this specialization, students will gain comprehensive industry knowledge along with the latest trends and development within the industry. This 5-course specialization will cover the major facets of construction management including project initiation and planning, scheduling techniques and procedures, cost estimating and control, and construction project financials. After students complete this specialization, they will have gained significant skills and tools to stay relevant and ahead of the curve in the world of construction management.
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