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The purpose of this course is to present essential practices of project estimating and control, applying proven cost estimation techniques. The course is taught on the basis of “case method” comprised of lectures and group question and answer periods.

Course Outline
The purpose of this course is to present essential practices  of project estimating and control, applying proven cost estimation techniques.

The course is taught on the basis of “case method” comprised of lectures and group question and answer periods.
Objective To familiarize participants with the various aspects of estimating, budgeting  and project cost control techniques -  from the  initial feasibility to projects completion stages -   that will ensure projects success. Target Audience

This seminar is relevant to all personnel of organizations active in procuring or delivering construction services, including private and public owners, consultants and contractors, financial institutions, bonding and insurance companies. It will be of particular benefit to all engineers, architects, construction managers, project managers, and other professionals who want to have a better understanding of the various aspects of cost estimating to provide knowledgeable advice to decision makers and better manage projects budget. 

Program Outline (1.2 CEUs / 12 PDHs)

Cost Management

  • Purpose of the course
  • Objectives of cost management 

Cost Planning

  • Creating an effective cost management plan aligned with business strategy

Cost Estimation: cost baselines for project stages

  • Defining project scope and requirements
  • Cost estimating formats
  • Establishing the unity of measurement
  • Process of capturing the historical costs
  • Cost estimation techniques

Procurement and Legal Aspects in Cost Estimating

  • Preparing Tender Documents
  • Contract formats
  • Negotiations techniques


Cost Monitoring

  • Establishing an independent and unbiased budget analysis & control process
  • Making best use of the project baselines to control the project
  • Tracking progress: proactively zeroing in on variances
  • Creating project spend graphs and other tools for cost monitoring
  • Uncovering and taking action on cost control opportunities

Mitigating Risk in Project Costs: Contingency Management

  • Identifying the sources of risk at each project phase
  • Risk allocation and assignments of liability for costs
  • Establishing and managing the project contingency reserve
After Attending This Course You Will be able to
  • Establish cost management plan
  • Prepare and organize cost estimates for each project stage
  • Monitor , analyze and control project budget
Material Required
  • Laptop
  • MS Excel
Instructor Monica Bialski P.Eng, PMP, MBA, PQS is a Senior Partner with eManagePro inc, and the founder of the Real Estate Gold Club. She is a board member of Quebec Chapter of Canadian Institute of Quantity Surveyors, member of Order of Engineers, licensed real estate broker and Project Management Professional.

She successfully planned, monitored and delivered major and complex real estate development and infrastructure projects across Canada and USA, earning her reputation of a top cost and project management expert. The expertise, dedication and leadership that she brings to every client and every mandate, secures her reputation  nationally and internationally.
Prerequisites & Certificates

Certificates offered

A certificate of completed Continuing Education Units (CEUs) will be granted at the end of this course. Each participant will receive a complete set of course notes and handouts that will serve as informative references.

Cancellation Policy
If you wish to withdraw from a course, you must advise us, in writing, including the official receipt. Our policies regarding refund are:

More than fifteen business days in advance: a full refund minus $50.00 administration charge.

Fifteen or less business days in advance: a transfer to another course or a credit, valid for one year, to another GIC course can be considered. Credits are transferable within your organization.

If the course has been running for more than 2 weeks, or after the course has started, an 80% credit towards another GIC course may be considered, if notice is received before the start date of the second session. After this time, no refunds or credits will be issued. If a speaker is not available due to unforeseen circumstances, another speaker of equal ability will be substituted.

GIC reserves the right to cancel or change the date or location of its events. GIC's responsibility will, under no circumstances, exceed the amount of the fee collected. GIC is not responsible for the purchase of non-refundable travel arrangements or accommodations or the cancellation/change fees associated with cancelling them. Please call to confirm that the course is running before confirming travel arrangements and accommodations.

Refund Policy: Allow up to 30 days for refunds to be processed.

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Global Innovative Campus
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