Cost Analysis and Management STRC 5302

Course description:

The course includes the study of cost management procedures applicable to the building process from the conceptual phase through owner operations, including conceptual estimating, project cost analysis and control, and value engineering and lifecycle costing.

Course Aims:

The main aim of this course is to explore various cost estimating methods and their applications, topics include: 
  • Labour 
  • Material 
  • Equipment 
  • Indirect costs 
  • Analysis of historical cost data. 
  • Forecasting

Course outcomes:

Upon completion of this course, the student should be able to: 
  • Enumerate the components of project cost. 
  • Differentiate between direct and indirect cost. 
  • Conduct cost estimates for different project resources. 
  • Forecast total project cost at a specific point in time with respect to measured progress.