العربية
0096522958111

Logo

Find A programme

Project Scheduling, Cost Planning & Value Engineering Skills

Dates Venues Register
27/12/2026 - 31/12/2026 LONDON

Introduction

Project Scheduling, Cost Planning & Value Engineering Skills

 

Objectives

  • 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 using whole life costing ratio analysis
  • Capture and incorporate stakeholders’ input in the development of the project charter and plan
  • Apply fundamental concepts of Value Engineering and Value Analysis
  • Improve cost planning and project control techniques to support better project delivery

 

Who Should Attend?

  • Cost estimators, project schedulers, and project planners
  • Project designers and engineering staff involved in project development
  • Contracts, procurement, and purchasing professionals
  • Project control and business services professionals
  • Individuals involved in project initiation, engineering design, and project assessment
  • Project sponsors, project managers, engineers, and project staff responsible for budgets and planning
  • Professionals aiming to deliver better value in sectors such as construction, manufacturing, petrochemical, healthcare, education, legal, and public services

 

Course Outline

Module I: Project Scheduling & Cost Planning Skills

Project Estimating Basics

  • 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

Developing Project Budget & Schedule Control

  • Resource requirements
  • Direct & indirect project costs
  • Planning and scheduling limited resources
  • Options for accelerating the schedule
  • Crashing the schedule - How?

Managing the Risk

  • Risk identification, analysis & management
  • Contingency reserve
  • PERT, probability and standard deviation formulae
  • Network activity risk profiles
  • Application: Estimating project duration
  • Project risk strategies

Measuring Project Performance

  • 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

Managing and Recovering Project Estimates

  • 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

Module II: Value Engineering Skills

Understanding Value Engineering and its Application

  • 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 Information and Function Analysis Phase – Expressing Project Needs and Constraints

  • 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

The Creative Phase - Inspiring Creativity in Your Team

  • 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

The Evaluation Phase - Making Informed Project Decisions

  • 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

The Presentation and Reporting Phases – Getting Results through Effective Communication

  • 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

Make an enquiry about seminar

Subject Areas

Locations

Live chat by BoldChat