Overview:
One of the challenges facing young engineers is knowing how much the job should cost. Another problem is living within a budget. In ever increasing competition, engineers need to demonstrate that they can handle the financial aspects as well as the technical. This course teaches the difference between cost and value, estimating the cost of design and construction work, budgeting and assessing the financial effects of decisions
Aims & Objectives:
At the end of the course, participants should be able to:
- Understand the approach to costing, valuing and budgeting, working from first principles
- Assess the financial consequences of actions taken
Course Outline:
Section 1
The elements of a price explained, labour, plant, materials and subcontractors
Section 2
Staff overheads, on-costs
Section 3
Calculating rates for work, workshop with examples of design and construction
Section 4
Dayworks, their use, comparison of rates
Section 5
The difference between cost and value
Section 6
Budgets and how we work to them, sites and organisation
Section 7
Financial effects of decisions taken, minimising waste, variations and delays, discussion and workshop
Section 8
Review
Intended For:
This course is designed for young engineers working in design, planning and construction.
