A PMI Approved Training Course

Construction Cost Estimating and Cost Control

Mastering the Fundamentals of Effective Cost Estimating and Management in Construction Projects

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Why Choose Us

The Construction Cost Estimating and Cost Control training course equips professionals to forecast costs accurately and maintain disciplined budget control throughout the construction lifecycle. In a competitive construction environment, organisations must avoid cost overruns, unclear estimates and inefficient resource planning. Participants examine estimating principles, cost phases and the financial consequences of decisions from initial concept through to project closure. They build capability in quantity take-off, unit pricing, labour and material costing, parametric estimating, cost-control planning and proactive monitoring.

By connecting estimating accuracy with effective cost management, participants gain practical skills that support timely, cost-efficient project delivery. The course examines how procurement approaches, contract structures and risk considerations affect final project costs. Through case studies, interactive sessions and real-world examples, delegates learn to anticipate cost variations, manage change orders and apply robust forecasting tools. This knowledge develops the confidence and competence required to control project expenditure and achieve successful project outcomes.

This Construction Cost Estimating and Cost Control training course will highlight:

Applying core estimating principles across construction cost phases
Preparing reliable estimates using quantity take-off and unit pricing
Calculating labour and material costs through appropriate estimating methods
Using parametric estimating and robust forecasting tools
Assessing procurement, contract and risk impacts on final costs
Managing cost variations, change orders and project expenditure

Why Choose Construction Cost Estimating and Cost Control

Course Goals

What are the Goals?

This Construction Cost Estimating and Cost Control Course is designed to provide participants with practical knowledge and the capability to use cost estimation and control concepts across the entire project lifecycle. The section that follows maintains the original learning intentions while enhancing clarity and readability.

Upon completing this training course, participants will be able to:

Gain mastery of the core principles of construction cost estimating, encompassing terminology, processes, and cost phases.
Produce comprehensive, dependable cost estimates by applying methods such as quantity takeoff, unit pricing, and the costing of labour, materials, and equipment.
Use cost-control techniques to track project budgets, conduct variance analysis, and accurately forecast cost outcomes.
Recognise how procurement strategies and contract types—including lump-sum, cost-plus, and design-build—affect overall project cost performance.
Put risk management approaches into practice to address uncertainties, change orders, and the financial challenges typically encountered in construction projects.

Who is this Training Course for?

This Construction Cost Estimating and Cost Control training course is designed for:

Construction Project Managers
Cost Estimators
Cost Engineers
Quantity Surveyors
Project Controls Engineers
Construction Managers
Commercial Managers
Contracts Managers
Planning Engineers
Project Engineers

Learning Approach

How will this Training Course be Presented?

This Construction Cost Estimating and Cost Control Training Course uses a practical, engaging, and interactive methodology aimed at maximising knowledge retention and learning. Participants take part in instructor-led sessions addressing real-world estimating and cost-management challenges.

The training incorporates structured case studies, group discussions, and practical exercises that simulate typical cost-control situations within construction projects. Using applied examples, delegates work through estimating methods, cost-control tools, and financial decision-making.

The delivery method includes:

Instructor-led presentations centred on estimating principles, cost phases, and cost-control strategies.
Real-world case studies demonstrating project risks, change orders, and cost-overrun scenarios.
Practical group exercises designed to build skills in cost tracking, budgeting, and forecasting.
Discussions and peer learning that reinforce key techniques and enable the sharing of industry experiences.

The Course Content

Introduction to Construction Cost Estimating and Control

Importance of Cost Estimating and Control in Construction
Key Cost Estimating Terms and Concepts
Construction Project Life Cycle and Cost Phases
Types of Cost Estimates
Conceptual cost estimating techniques for early phases
Common Cost Control Challenges in Construction Projects

Construction Cost Estimating Techniques

Quantity Takeoff Methods and Tools
Unit Price Estimating and its Applications
Parametric Estimating and Cost Databases
Estimating Labour, Materials, and Equipment Costs
Applied Tools and Technology for Cost Estimating

Cost Control Strategies in Construction

Budgeting Techniques and Allocating Resources
Monitoring and Tracking Project Costs
Variance Analysis and Cost Forecasting
Change Orders and Managing Cost Overruns
Contingency Planning, Risk Management, and Cost Control

Procurement and Contract Types in Cost Control

Types of Construction Contracts and Their Financial Implications
Estimating and Managing Costs in Lump-Sum, Cost-Plus, and Design-Build Contracts
The Role of Subcontractors in Cost Management
Finalizing Project Cost Reports and Documentation
Legal and Ethical Considerations in Construction Cost Control

Risk Management and Cost Control Finalization

Identifying and Analyzing Financial Risks in Construction Projects
Techniques for Mitigating and Transferring Risks
Integration of Risk Management and Cost Control Plans
Lessons Learned and Post-Project Cost Analysis
Course Review

Recognition

Certificate

• Wallstreet Development Academy Certificate of Completion for delegates who attend and complete the training course.

Qualifications & Endorsements

Accreditation

Wallstreet Development Academy is an official PMI Authorized Training Partner (ATP). All applicable project management courses are pre-approved by the Project Management Institute, allowing participants to earn the necessary PDUs and Contact Hours for certification and recertification.

Collaborations

In Partnership With

Frequently Asked Questions

The course covers the fundamentals of construction cost estimating and cost control. It focuses on how estimating and cost management contribute to the financial management of construction projects. The course treats these topics as connected parts of effective construction project cost management.

The course introduces cost control as a core part of managing construction project costs. It connects cost control with the estimates used to establish project cost expectations. This helps learners understand the role of both estimating and control in effective cost management.

The course presents cost estimating and cost control as closely connected disciplines. Estimating establishes a basis for understanding expected construction costs, while cost control supports their ongoing management. The training focuses on mastering the fundamentals of both areas together.

Yes, the course is centred on mastering the fundamentals of construction cost estimating and cost management. It is relevant to learners who want a clearer grounding in how construction project costs are estimated and controlled. No specific entry requirements are provided in the course information.

You will learn the fundamental principles of preparing and managing cost estimates for construction projects. The course also addresses how estimates relate to ongoing cost control. Its focus is on building a practical foundation in construction cost management.

The course builds foundational skills in construction cost estimating and cost management. It develops an understanding of how project costs are estimated and then controlled. These skills support more structured management of construction project costs.

Yes, the course is specifically focused on cost estimating and cost control in construction projects. Its subject matter is framed around the cost management needs of construction work. The course does not present estimating as a general topic detached from the construction context.

The course would benefit people who need to understand the fundamentals of estimating and controlling costs on construction projects. It is especially relevant to those seeking knowledge of effective construction cost management. The available course information does not specify particular job titles or required experience levels.