A PMI Approved Training Course
Project Scheduling, Cost Planning & Value Engineering Skills
Creativity and Excellence in Planning, Functionality and Costing
Course Introduction
This training course is divided into two focused modules. In the first week, you'll learn how to deliver reliable cost and schedule estimates during the early concept and planning stages of a project. This foundational knowledge is crucial for setting realistic expectations and ensuring project success from the outset.
The second week delves into Value Engineering (VE), a structured approach designed to optimize project value, reduce life-cycle costs, and eliminate unnecessary expenses. You’ll explore techniques for enhancing project outcomes by addressing financial issues and improving cost efficiency.
Throughout this Project Scheduling, Cost Planning & Value Engineering Skills training course, you will follow a systematic step-by-step methodology to support all phases of project management, including initiation, planning, execution, monitoring, and closure. Key elements covered include roles and responsibilities, planning techniques, team management, stakeholder engagement, cost estimation, and life-cycle costing analysis. Practical applications and case studies will help you apply these concepts effectively in real-world scenarios. This Project Scheduling, Cost & Value Engineering Training Course will help you manage, mitigate schedule, cost, scope, & resource risks associated with the project.
This training course will feature:
- Gaining knowledge of techniques used in project estimating, from the conceptual stage to the final detailed estimate
- Understanding the different types of estimates used to confidently and progressively estimate project costs and schedule
- Identifying risk sources and minimize their impact with and without contingency
- Developing effective team management, performance monitoring and control systems
- An integrated approach to scope, time, resources and cost management into a dynamic and manageable model
Modules
This training course is split into two modules:
MODULE I - Project Scheduling & Cost Planning Skills
MODULE II - Value Engineering Skills
Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.
Training Objectives
By the end of this COPEX training course, participants will be able to:
- Manage and mitigate schedule, cost, scope, and resource risks associated with the project
- Develop a project recovery plan for budget and schedule overruns
- Identify value mismatches through the ratio of whole life costing
- Capture & incorporate stakeholders’ input in the development of the project charter & plan
- Know the fundamental concepts of Value Engineering and Analysis
Who should Attend?
This COPEX training course is suitable to a wide range of professionals but will greatly benefit:
- Those who have a role in various projects such as cost estimators, project schedulers, project designers, project planner, contracts professionals, project procurement and purchasing staff, and project control and business services professionals who have the responsibility for preparing cost / schedule estimates and project proposals in client and contracting companies
- Those who are interested in knowing more about estimation and control in a project environment
- Anyone involved in project initiation, engineering design, and critical assessment of projects
- All those responsible for making significant decisions concerning plans and budgets for large and complex projects
- Project or Program Sponsors, Project Managers, Cost Estimators, Cost Controllers, Engineers, Designers and Project Staff
- All those aspiring to deliver better value in all sectors of the economy from major projects in construction, manufacturing, petro-chemical, healthcare, education legal and public services
Course Outline
- Basic project management definitions
- Triple constraints – Time, Cost, Scope
- Project selection methods
- Defining project scope
- Cost & schedule estimation, Cost budgeting & control
- Project schedule management using the Critical Path Method
- Resource requirements
- Direct & indirect project costs
- Planning and scheduling limited resources
- Options for accelerating the schedule
- Crashing the schedule - How?
- Risk identification, analysis & management
- Contingency reserve
- PERT, probability and standard deviation formulae
- Network activity risk profiles
- Application: Estimating project duration
- Project risk strategies
- Critical chain analysis and use of buffers
- Comparison of unbalanced with balanced schedules
- Measuring planned progress on schedule
- Risk distribution in contracting
- Actual progress and work conditions
- Managing variable conditions
- Schedule variances & cost variances
- Progress control charts -trend analysis
- Schedule and cost variance forecasting
- Schedule and cost recovery analysis
- Schedule and cost recovery plan
- Project recovery baselines and controls
- Course Introduction and Post-Course Assessment
- What is value? What is Value Engineering (VE)? Why is it important?
- Defining Value Engineering concepts and principles
- VE Study definition, scope and project phases
- VE team and stakeholders’ analysis and management
- Introducing the case study
- The VE Job Plan
- The Information Phase – steps and procedures
- The need for Function Analysis in projects
- Identifying functions and selecting Function Diagrams
- Function Analysis System Technique (FAST)
- Workshop: FAST Diagram
- Function Cost and Worth
- Finding value mismatches
- Facilitation skills and overcoming creativity blockers
- Creativity and Creative thinking within the project environment
- Data collection and Creativity Output
- Workshop: Brainstorm Case Study Alternatives
- Effective Decision-making in project environment
- Project evaluation methods: Subjective evaluation and quantitative evaluation
- Paired comparison and Analytical Heretical Process (AHP)
- Project life-cycle costing and Net Present Value
- Output of the Evaluation Phase
- Workshop: Cost estimating Techniques
- Selection of alternatives and action planning
- Reporting VE findings to Senior Management and project stakeholders
- Oral presentation techniques & interpersonal skills
- Study Levels of the VE Certification by SAVE International
- Review of VE Case study Reports and Wrap-up discussions
- Post-Course Assessment
Accreditation
Certificates
- COPEX Certificate of Attendance will be provided to delegates who attend and complete the course
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COPEX Training is your gateway to professional growth, with over 20 years of experience turning potential into success. Each year, we deliver over 1,000 courses in 50+ countries, earning a stellar 98% satisfaction rate. Trusted by global giants like BP, the United Nations, and HSBC, we partner with top certification bodies to provide career-focused training that empowers individuals and drives organizational breakthroughs. Our mission? To transform the way professionals learn and grow in today’s fast-changing industries. Through expert insights, cutting-edge methods, and hands-on approaches, we equip you with the skills and confidence to tackle challenges, seize opportunities, and thrive in your career.
Led by a passionate leadership team and supported by a network of world-class trainers, COPEX Training connects professionals worldwide with life-changing opportunities. We are committed to excellence, ensuring every participant leaves with the tools, expertise, and confidence to conquer an ever-evolving world.
Frequently Asked Questions
This FAQ section provides quick answers to the most common questions about our services, procedures, and policies. We aim to make your experience with us as straightforward as possible. For further assistance, our support team is ready to help.
Enhanced Skills: Develop in-demand skills and knowledge in your chosen field.
Career Advancement: Improve your career prospects and increase your earning potential.
Increased Confidence: Gain confidence in your abilities and enhance your professional presence.
Networking Opportunities: Connect with other professionals and industry experts.
Improved Job Performance: Enhance your productivity, efficiency, and job satisfaction.
Personal Growth: Develop valuable personal and professional skills that can benefit you in all areas of life.
Experienced Instructors: Courses are delivered by highly qualified and experienced instructors with industry expertise.
Interactive Learning: Engaging and interactive learning methods, including workshops, simulations, case studies, and group discussions.
Practical Application: Focus on practical skills and real-world applications, enabling you to apply your learning immediately.
Flexible Learning Options: A variety of course formats available, including classroom training, online courses, and blended learning.
Certification & Recognition: Upon successful completion, you may receive industry-recognized certifications.
There are several ways to register in our public training courses:
Online – Browse the Training Plan, select the course of choice, click on the button
“Register Now” inside the course outline page.
E-mail – Send the details (name, company name, email address and training course of
choice) of your nomination to [email protected]
Telephone – +971 4 368 6886 or +971 50 106 2750
Upon successful registration, processing window will take not more than 24 hours from the time of registration. An email including the registration confirmation, invoice and joining instructions will be sent to the provided email address.
Published training course fees are inclusive of the training venue, training manual, writing materials, lunch and coffee breaks with refreshments over the entire duration of the training course.
The training course fee can be settled by either:
- Bank transfer
- Credit Card
Our training courses will run for 5 hours per day. The standard daily timing is from 8:30 am – 3:30 pm including the coffee/tea breaks and lunch.
Our training courses courses are being held at five-star hotels in prime and iconic destinations across the globe. Cities such as Amsterdam, Barcelona, Dubai, Geneva, Istanbul, Kuala Lumpur, London, Houston, New York, Paris, Vienna, Zurich, etc.
Once officially registered, we can assist by providing the corporate rates provided by the hotel where the training course will be conducted. Early confirmation will enable us to secure the room at reduced rates
Our cancellation policy varies depending on the circumstances presented. Generally, cancellations must be initiated in formal writing at least 14 days prior to the commencement date of the training course. Further, the option to shift an existing registration to another training course on a later date is possible. Otherwise, a full refund will be initiated.
Delegates who will attend and successfully complete the training course will earn a COPEX Certificate of Completion. This certification is designed to validate the successful knowledge transfer, and that the desired learning objectives and outcomes to further advance your professional competency are achieved.
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training course for you!
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