C3: Estimating A to Z / CEP Exam Prep
Wednesday - Thursday, July 1 - 2 (1.5 DAYS)
Instructor: Doug Leo, CCP CEP FAACE Hon. Life
Mr. Leo is Director of Estimating at BMS, Inc., Chair of AACE Estimating Sub-Committee, Chair of AACE Constitution and Bylaws Committee, and the current president of AACE International. He has over 30 years total cost management, professional estimating, project management and consulting experience in the engineering and construction industries.
Mr. Leo has been responsible for the preparation of conceptual and detailed estimates for capital projects both domestic and international ranging from $20K to more than $10B in size. He has specialized in capital projects of strategic importance, utilizing new technologies and those involved in use of parametric estimating methodologies and also provided training in estimating, cost metrics analysis, risk mitigation. Mr. Leo has demonstrated experience in total cost management, estimating organization management, estimating methods & procedures development. He has provided technical estimating support in petrochemicals, refinery, oil sands, paper & web based technologies, manufacturing, industrial & commercial buildings, mining development, pharmaceuticals, aluminum, waste water treatment, fertilizer manufacturing.
An excellent preparation for AACE's Certified Estimating Professional (CEP) certification exam, this seminar is designed to provide comprehensive coverage of the fundamentals of estimating for the process industries. It will also cover many subtle and advanced estimating concepts, as well. The process industries are "equipment-centric" and this influence is important in the selection of estimating methodologies used in estimating preparation. The estimating process will be covered from both the contractor and owner's point of view, noting the similarities and differences in respective approach of each. An emphasis will be placed on examining the conceptual estimating methodologies that can assist in preparing accurate estimates at early design stage of a process industry project.
The seminar begins with laying the foundations of estimating definitions and terminology used throughout the course, examining the various types or classes of estimates used by the process industries, and identifying the technical deliverables required to prepare each type of estimate. The components and structure of an estimate will be identified, leading to an overview and then in-depth coverage of various estimating methodologies. The issues of costing, pricing, adjustments, and allowances will be examined. Next, the reliability limitations of the estimating methodologies and their impact on estimating accuracy will be studied. The presentation of the estimate is examined including a discussion of the basis of estimate document, risk analysis, contingency, and the estimate review and validation process. The importance of Estimate-Schedule integration will be addressed. The issues of collecting project history, and providing the means to retrieve and analyze that information to aid the estimating process will be discussed. Next, the organizational issues of an estimating department will be tackled. Lastly, the seminar will discuss various problems inherent in estimating for mega-projects.
Key Learning Objectives
• Become comfortable with the terminology of process estimates.
• Understand the estimate types, the technical information required for each type of
estimate, and the reliability limitations of each type.
• Become familiar with the various estimating methodologies.
• Understand how to professionally present an estimate.
• Understand the estimate review/validation process.
• Understand contractor vs. owner points of view and issues.
• Understand the estimating problems of mega-projects.
• Take pride in the profession of estimating.
• Definitions and Terminology
• Estimate Types/Classifications, Technical Deliverables
• Estimate Components/Structuring the Estimate
o Direct Costs
o Indirect Costs
o Home Office Costs
o Cost Code Structure
o WBS/RBS Structure
• Overview of Estimating Methodologies
• Capacity Factored Estimating/Curve Estimating
• Equipment Factored Estimating
• Parametric Estimating
• Detailed Estimating
• Reliability Limitations/Estimate Accuracy
• Risk Analysis/Contingency
• Presenting the Estimate/Basis of Estimate Document
• Estimate-Schedule Integration
• Estimate Review/Estimate Validation
• Project History, Retrieval and Analysis
• Organization of an Estimating Department
• Dealing with Mega-Projects
$1150 member / $1300 non-member
NOTE: Fee includes hot breakfast, lunch (for the full day), and morning and afternoon refreshment breaks each day. Late (after May 21) and onsite registrations assessed a $100 penalty. Seminar is subject to cancellation and full refund if minimum enrollment is not met by the early registration deadline.