Estimators, project managers and engineers face constant risk of cost overruns, contract disputes and delays. While measures exist to mitigate these risks, traditional methods of estimating and cost management often cannot keep pace with changing approaches to contracts and procurement, evolving technologies, and other external pressures.
This session introduces advanced techniques in active estimating, integrated cost management, Lean practices, and the application of new technologies that support Target Value Delivery (TVD). By the end of the session, attendees will be able to:
- Understand a systematic approach to managing cost throughout the life-cycle of a project
- Understand opportunities for integrating new technology and innovations in project management and estimating
- Realize behavioral estimating practices that increase predictability
- Apply cost estimating and integrated cost management principles, methodologies, and technology in support of the TVD process
Key contents/what attendee will learn:
- Full cycle process: Estimating approach, behavior, technology integration, cycle jump
- Active vs Passive approaches in Estimating
- Continuous estimating in practice.
- Rapid cost feedback to design enabled by BIM and data analytics
