Project Cost Adjustments Course

Project Cost Adjustments Course



    The importance of training courses is not only limited to professional life, as most of us think but training courses aim to transfer knowledge and practical experiences that enrich the skills of individuals and enhance their self-confidence, which contributes to the preparation of cadres which in turn contributes to the development and progress of institutions. Therefore, Strategic Vision Training Center aims to enhance the skills and experiences of individuals through the strongest training programs to keep pace with every development in the labor market.



  • The training program deals with the methods used in estimating, whereby participants acquire the necessary skills to accurately forecast project costs with a focus on estimating the cost of pre-construction services, estimating subcontractor work and general conditions, pricing self-work, and estimating negotiated contracts.
  • There is no doubt about the importance of preparing reliable estimates of costs during the design and early conceptual stages of the proposed project, as the decision to complete the project is often based on initial estimates of conceptual costs, in addition to that these estimates are a basis for cash flow forecasts, which were relied on during a feasibility study The project.
  • Apply the methods used in estimating the cost of the project, starting from the conceptual stage to the detailed stages.
  • Understand the different types of contracts in relation to the distribution of risks between the contracting parties.
  • Define and synthesize innovative incentive arrangements to get the best out of the contract.
  • Applying appropriate methods to analyze risks with the aim of reducing and mitigating them at the lowest possible costs, and the methods used in emergency situations for other risks.
  • Preparing estimates and contracts for the total amount, added cost and time contracts for the materials used in the project.

Course content:

1st Day

  • The basics of costing
  • The most important definitions in project management.
  • Cost selection methods.
  • Typical project terminology and preparation for success.
  • Project cost management and cost control.
  • Allocate costs and allocate resources.
  • Understand and assimilate project management inputs to costing.

2nd Day

  • Pricing, Contracts, and Risks
  • Project management inputs to budget preparation costs.
  • Resource needs.
  • Direct costs and indirect costs of the project.
  • Standard deviation equations and probabilities.
  • Types of contracts based on the distribution of risks.
  • Fixed price contracts and added cost contracts.

3rd Day


  • Preparing project budget and controlling costs
  • Identification, analysis and management of risks.
  • Descriptive analysis of risks.
  • Quantitative analysis of risks.
  • Matrix of risks and possibilities.
  • The strategy used to face risks.
  • Managing cash flow.

4th Day

  • Approximate and detailed methods of costing
  • Estimate the costs of the materials used.
  • Estimating construction costs.
  • Estimating labor costs, and estimating detailed costs for the staff.
  • purchase management.
  • Distribution of risks when contracting.
  • Summary of project risk profiles.

5nd Day

  • Advanced methods of costing
  • Building Information Modelling (BIM).
  • Cost Relationship Estimation (CER).
  • CNC cost estimation.
  • Control schemes.
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