Construction Cost Estimating and Cost Control

Course Overview

In this course, Construction Cost Estimating and Cost Control, Professor Odeh will provide an overview of the stages of design in a construction project and the types of cost estimates used. Learners will explore the tools and methods used to create estimates, as well as the importance of controlling costs and how to monitor project cash flow. Additionally, learners will work on a break-even analysis of construction tasks in a project. By the end of the course, learners will have acquired the fundamentals of cost estimation and cost control, and will understand the close out period of the project.

[Applications]
Upon completion of this course, learners can apply the knowledge gained to create cost estimates for construction projects, monitor project cash flow, and control costs. They can also use the Earned Value Method to track project performance and progress. Additionally, learners can use the knowledge gained to understand the close out period of a project and the tasks associated with it.

[Career Paths]
1. Construction Cost Estimator: Construction cost estimators are responsible for preparing cost estimates for construction projects. They use their knowledge of construction materials, labor costs, and other factors to create accurate estimates. They must also be able to analyze and interpret blueprints and other documents related to the project. As the construction industry continues to grow, the demand for construction cost estimators is expected to increase.

2. Construction Project Manager: Construction project managers are responsible for overseeing the entire construction process from start to finish. They must be able to manage budgets, coordinate with subcontractors, and ensure that the project is completed on time and within budget. As the construction industry continues to grow, the demand for construction project managers is expected to increase.

3. Construction Cost Analyst: Construction cost analysts are responsible for analyzing the costs associated with construction projects. They must be able to analyze and interpret data related to the project, such as labor costs, materials costs, and other costs. They must also be able to identify areas where costs can be reduced and suggest ways to improve the efficiency of the project. As the construction industry continues to grow, the demand for construction cost analysts is expected to increase.

4. Construction Cost Controller: Construction cost controllers are responsible for monitoring and controlling the costs associated with construction projects. They must be able to analyze and interpret data related to the project, such as labor costs, materials costs, and other costs. They must also be able to identify areas where costs can be reduced and suggest ways to improve the efficiency of the project. As the construction industry continues to grow, the demand for construction cost controllers is expected to increase.

[Education Paths]
1. Bachelor of Science in Construction Management: This degree program provides students with the knowledge and skills needed to manage construction projects from start to finish. Students learn about the principles of construction management, including project planning, budgeting, scheduling, and risk management. They also gain an understanding of the legal and ethical aspects of the construction industry. This degree is becoming increasingly popular as the construction industry continues to grow.

2. Master of Science in Construction Engineering: This degree program focuses on the engineering aspects of construction projects. Students learn about the design and analysis of structures, materials, and systems used in construction. They also gain an understanding of the principles of construction engineering, such as project management, cost estimation, and safety. This degree is becoming increasingly popular as the construction industry continues to grow.

3. Master of Science in Construction Management: This degree program provides students with the knowledge and skills needed to manage construction projects from start to finish. Students learn about the principles of construction management, including project planning, budgeting, scheduling, and risk management. They also gain an understanding of the legal and ethical aspects of the construction industry. This degree is becoming increasingly popular as the construction industry continues to grow.

4. Doctor of Philosophy in Construction Management: This degree program provides students with the advanced knowledge and skills needed to manage complex construction projects. Students learn about the principles of construction management, including project planning, budgeting, scheduling, and risk management. They also gain an understanding of the legal and ethical aspects of the construction industry. This degree is becoming increasingly popular as the construction industry continues to grow.