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Business and commercial

Cost estimating

Learn how to generate accurate and reliable cost estimates.

1 day

Next available:

Members: £550 + VAT
Non-members: £650 + VAT

Course Location & Date
Cost estimating
10% early bird discount applied
Hurry! 166 days left
Members:
£550.00 £495.00 Plus vat
Non Members:
£650.00 £585.00 Plus vat
Book now

Summary

Learn how to generate accurate and reliable cost estimates.

We have created this course to help those involved in preparing estimates of costs, time and duration.

The need for good estimating practice is fundamental to a business’ commercial viability as well as being a source of sustainable competitive advantage.

Throughout the course, you will experience and practise a number of estimating methods and upon completion will be able to make an informed decision regarding the most appropriate technique to adopt in a range of scenarios.

Who should attend?

This programme is suitable for engineers and non-engineers at all levels.

How will I benefit?

After the course you will be able to: 

  • Understand what an estimate is and why we estimate
  • Understand the business impact of good and bad cost estimating
  • Understand the different cost inputs
  • Select the appropriate estimating method for a given task
  • Estimate labour, materials and overheads
  • Understand the role of statistics in estimating
  • Understand the impact of risk and uncertainty
  • Effectively document the estimate

 

Contributes 7 CPD hours

Very good course, even for non-engineers. Guy Horsley very good trainer - would recommend.

Anna Ross, Horizon Nuclear Power

Key topics

  • Fundamental estimating principles
  • Estimate definitions
  • Accuracy versus precision
  • Classes of estimate
  • Cost and schedule estimating methods and techniques
  • Developing probabilistic estimates
  • Determining appropriate levels of contingency
  • Estimating good practices and lessons learned

Mapped against UK- SPEC competencies: B and C

  1. Design and development of processes, systems, services and products - For Chartered Engineers: ‘Apply appropriate theoretical and practical methods to the analysis and solution of mechanical engineering problems’ For Incorporated Engineers ‘Apply appropriate theoretical and practical methods to design, develop, manufacture, construct commission, operate, maintain, decommission and re-cycle mechanical engineering processes, systems, services and products’
  2. Responsibility, management or leadership - For Incorporated and Chartered Engineers: 'Provide Technical and commercial leadership’

In-house and bespoke training

Tell us your team's CPD needs and we'll come to you with a specialised training programme, customised for your engineering sector.
Contact our advisors if you need help finding the most appropriate training for your team.

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At a glance

  • Duration:
    1 day
  • Location:
    London
  • CPD Hours:
    7
  • UK-Spec:
    B, C

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Terms & conditions of booking IMechE training

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Offers and bundles

A range of options to help you maximise your training budget.

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Available dates for Cost estimating

1 day course

London
21 Jun 2024 10% discount available until 21 April

Require a different date or location? Or want to train a group in house?

We can customise any of our courses and deliver them in-house, for your entire team. It could also save you money, especially as you would save travel time.

More about In-house and bespoke training

Register your interest

Members: £550 + VAT

Non-members: £650 +VAT

Enquire now

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Train your team

Tell us your team’s development needs and we’ll come to you with a specialised training programme, customised for your organisation.

What options are available?

  • Off the shelf – we can deliver any of our training courses at your chosen location, providing you with a cost-effective and efficient solution
  • Tailored courses– our personalised programmes can help you work through issues specific to your team or sector and equip you with the practical tools you need to move forward
  • Blended programmes – we use a range of delivery methods, development subjects and performance resources to ensure your team have the knowledge and skills they need to help your business thrive

More about in-house and tailored training.

Offers and bundles

We have a range of options to help you maximise your training budgets.

More about our offers and bundles

Some of the companies we've worked with

  • Alten
  • AMH Material Handling
  • Avara Foods
  • bmt
  • Bombardier
  • Bombardier
  • Frazer Nash
  • Gas Networks Ireland
  • International Nuclear Services
  • JCB
  • Martin Baker
  • National Composited Centre
  • Network Rail
  • Smurfit Kappa
  • sse

Our training acumen

  • Over 30 years of experience delivering training
  • More than 200 courses designed for engineers
  • Over 10,000 engineers trained each year
  • Trusted by over 800 companies
  • Business solutions delivered in 48 countries

Average customer rating: 4.75 out of 5


Get in touch

Get in touch if you need help finding the right course, or qualification, for you or your team.

Terms & conditions of booking IMechE training