Introduction

It is every supervisor’s goal to complete their project on budget and within the estimated costs. This course is intended to teach the skills necessary for effective control of construction costs at the job site.

We will study the construction Cost Control Cycle and apply principles and practices associated with cost awareness and production control to each element of the cycle. The cost control cycle begins with the estimate and then continues through work and cost analysis, production scheduling, reporting, production control and ends with project evaluation. The information will be studied by solving common construction problems, the consideration of case studies and discussion of common cost control issues.

Learning objectives

By the end of this class you should:

• Understand the impact of and methodology associated with construction cost control.
• Be able to determine which part of the cost control cycle your project is currently in.
• Know how the estimate and the work of the estimator affects project cost control activities.
• Be familiar with the content of a typical construction estimate.
• Understand how information within the estimate can help field supervisors keep the project under control.
• Know how to use the labor budget and estimate breakdown to help plan construction operations.
• Understand the process by which the superintendent or project manager takes over cost control from the estimator at the beginning of the project.
• Gain additional insight into the process of work and cost analysis in construction.
• Know how to prepare a short interval production schedule.
• Learn how the comparison between actual and estimated production is used to help control costs.
• Be aware of how to use information generated by a cost reporting system to control costs.
• Understand the affect that improper field reporting and spreading can have upon estimating future projects.
• Know the causes of most variations from established budgets and schedules
• Understand the production cycle and be able to define and use production variances.
• Know how to participate in a project de-briefing and understand the value associated with de-briefing.

Class Organization and Grading

The following table lists the learning modules, the maximum value in points a student can receive within each module, and the time in which the modules must be finished.

It is important that the student keep up with the class and not fall behind. Course modules will be made available to students on Sunday of each week. Class work must be completed before the following Monday. Students will not be able to work ahead of the class although reading assignments will be made available in advance. Actual dates that modules will become available will be posted in advance on the course calendar.

Grading Policies

Graded assignments will consist of one quiz for each module and participation in at least two class discussions. Each quiz will count 10 points and class discussions will count 15 points per module. You can see that I consider class discussions to be a very important part of this course. For that reason,  the regular weekly discussions are even more important than the weekly quizzes. Students should provide at least 4 contributions to the class discussions each week to gain the maximum points. Grades will be posted on a weekly basis. You will have full access to your grade sheet so you will be able to keep track of how you are doing at all times.

Your overall grade in the course will be determined by the total number of points you have accumulated on quizzes and assignments.  The grading scale is as follows:

Anything less will be considered an unauthorized withdrawal from the course.

You will be given more information about the grading and other course matters in the Orientation Module.

The Textbook

The textbook for this class is Unit 6, Understanding and Managing Project Costs (S). Click on this link to order the book.

If you order a used book be sure you are getting the correct edition.

Please note: The book must be purchased separately and is not included with the cost of the course.

Allow at least 5 working days between ordering the book and receiving it by the least expensive shipping. You can have your book delivered more quickly by paying more for the shipping.

Reading Ahead

This table details the reading assignments for the entire course. This will give you opportunity to read ahead and get a jump on upcoming modules.

Withdrawal Policy

You may withdraw from this course by sending an email to cmiller@aacei.org or by conventional mail requesting to be dropped from the course. Non-attendance or notifying the instructor does not constitute officially dropping or withdrawing from a course. Students who stop attending courses without officially dropping will receive a grade of U in the class. Refunds are not automatic. NO refunds are due unless the course is officially dropped within stated guidelines in the refund schedule.

Refund Schedule

Registration

Tuition: $500 / $400 (Nonmember / AACE member)

Click here to REGISTER.