Course Details

Project Cost (1) - Estimation and Control

Key topics covered:


This course will cover how a project cost and price is constructed from the contract, and then managed through project delivery.  
It will include an overview of:

  • Cost estimating techniques and accuracy;
  • Time-phased budgeting, cash flow, and integrated baseline;
  • How a project’s budget and schedule are integrated to forecast the project's cash-flow 
  • How to set the budget contingency and management reserve in response to risks and uncertainty;
  • Selecting a contracting strategy;
  • Financial elements of vendor bid analyses and frameworks - how to evaluate vendor bids using a fair and consistent framework;
  • Contract payment terms and penalties - how to meet and monitor compliance with contract terms and penalties;
  • Change control and contract variations;
  • How to respond to changes and decisions in evolving and uncertain conditions on-site communicating project budget information in status reports; and,
  •  Further opportunities to develop as a project professional

Learning Outcome:

Participants will gain an understanding of the tools and techniques used to build and control a project’s cost and price. The participant will gain an ability to:

  • Read, understand and review project estimates budgets
  • Communicate project progress to internal and customer audiences with status reports
Who Should Attend
This course is suitable for anyone getting started in the world of projects.

None, but we strongly recommend T0018 and T0020

4 Hours


CIM Member Price


Affiliate Member Price


Non Member Price


Currently Scheduled Course Dates

T0023 - 06
Live Webinar or ICI Learning Centre
1300 424 287

T0023 - 07
Live Webinar or ICI Learning Centre
1300 424 287

  • If the scheduled dates are not suitable please fill in this form to submit a request for new date(s) to be scheduled. Note you don't need to specify the course code this will be automatically included.

  • Ideal date range in which you would like to attend the course:

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