Fundamentals of Cost Management – November 2021

Event Date:

November 10, 2021

Event Time:

8:00 am

Event Location:

Turnaround Management Training Center


This course provides industry best practices and methodologies for estimating costs and managing budgets for turnarounds and capital projects. It helps to eliminate gaps in the budget which could cause overruns later. It aligns the team on cost terminology and deepens team competency through the assimilation of tools, methodologies and processes for formulating composite rates, earned values, managing contingency and properly forecasting budget at completion.

Who Should Take This Class:

Cost professionals, those who would like to pursue the cost profession and those who supervise cost professionals.

What You Will Learn

Students learn cost terminology, tools of the cost profession and techniques used by cost professionals to prepare budgets, manage contingency, accurately forecast completion budget and what data sources are necessary for cost management. Students learn how cost management is integrated into the phase gated process and what deliverables are required during each phase.

Course Outline:

  • Review Cost Control Terms
  • Review Cost Control Primer
  • Gain Understanding of the Role
  • Gain Understanding of Cost Control Challenges
  • Gain Understanding of the Estimate Types
  • Gain Understanding of the stages of Estimating
  • Gain Understanding of the three E’s of Forecasting
  • Gain Understanding of Composite Rates
  • Gain Understanding of Cost Forecasting
  • Gain Familiarity with Common Cost Overruns
  • Review Elements to Include in the Budget
  • Gain Familiarity with Cost Management Process
  • Gain Proficiency in Cost Forecasting

Example Course Documents:

Register Now:

Ticket Type:

15 Left:
Ticket Qty:
Per Ticket Price: $1,500.00
Quantity: Total

Event Location:

Total Seats: 15 (15 Left:)
  • Turnaround Management Training Center
  • 17629 El Camino Real #105 Houston
  • Houston
  • Texas
  • United States

Event Schedule Details

  • November 10, 2021 8:00 am - November 11, 2021 5:00 pm
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