0807ELCM

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-7 Validate The Time & Cost Trade-Offs
Level
Expert Level (Controls Manager)
Discipline
Cost Management
  • To be able to supervise or manage the assumptions and conduct sensitivity analysis done by others, and using that information, be able to create, modify or update the activity based costing process, tools, techniques or methodology to satisfy the needs, wants and expectations of the key stakeholders
  • Be able to supervise or manage how others set up and run a Monte Carlo simulations, be able to read and understand the outputs from a Monte Carlo simulation and based on those results make the appropriate recommendations to the relevant decision makers, the objective being to offer

0806ELCM

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-6 Developing The Contractors Cost Estimate (Bottom Up)
Level
Expert Level (Controls Manager)
Discipline
Cost Management
  • Is able to  supervise or manage the Bills of Quantities or Bills of Materials, including those coming from BIM, and using that information,  be able to create, modify or adapt the quantity take off process, tools, techniques or methodology to satisfy the needs, wants and expectations of the relevant stakeholders
  • Is able to supervise or manage the estimating parameters, and based on the scope definition, the acceptable ranges of accuracy and which estimating tools/techniques are appropriate for this class of estimate, then create, modify, or adapt them to create a cost

0805ELCM

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-5 Define The Estimates Purpose And Interpret The Scope Of Work (Contractor)
Level
Expert Level (Controls Manager)
Discipline
Cost Management
  • Is able to supervise or manage the results from planning/schedule development meetings facilitated or led by others and to then create, modify, or adapt these processes to improve the effectiveness of planning/scheduling meetings
  • Is able to supervise or manage the results of value analysis/value engineering tools, techniques or methodologies done by others and be able to create, modify, or adapt the processes to improve on the VE/VA process, tools, techniques or methodology
  • Is able to supervise or manage what the appropriate level of detail should be for any class of es

0804ELCM

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-4 Creating The Owners Cost Estimate (Top Down)
Level
Expert Level (Controls Manager)
Discipline
Cost Management
  • Is able to supervise or manage the various Standardized WBS Coding structures, sources of cost estimating data and any limitations or constraints, with the objective to create, change, modify or otherwise improve the process to select the appropriate codes to be "fit for purpose"
  • Is able to supervise or manage the various cost estimating software tools/techniques, with the objective to create, change, modify or otherwise improve the choice of software to increase the accuracy, reliability and precision of the cost estimates
  • Is able to supervise or manage the estimating

0803ELCM

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-3 Define The Estimates Purpose And Scope Of Work (Owner)
Level
Expert Level (Controls Manager)
Discipline
Cost Management
  • Is able to supervise or manage what topics should be covered in a planning/schedule development meeting, who should attend and what the role/responsibilities of each participant should be and to facilitate or lead such a meeting
  • Is able to supervise or manage the selections, choices or recommendations made by others as to the appropriate level of detail for any given phase in the asset/project life span, with the objective to offer constructive criticism to improve the process
  • Is able to supervise or manage the choices made by other as being the "best" or "most appropri

0810ELPS

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-10 Baselining And Communicating The Cost Estimate/Cost Budget
Level
Expert Level (Controls Manager)
Discipline
Planning & Scheduling
  • Be able to supervise or manage how others apply the various communication media, knowing which media should be used to effectively communicate the cost estimate or the performance measurement baseline including updates to the relevant stakeholders in a timely manner enabling them to make the appropriate decisions, the objective being to offer constructive criticism to improve the process
  • Be able to supervise or manage how others analyze the cost estimate or the performance measurement baseline including updates data the write a narrative report appropriate for each category of

0809ELPS

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-9 Conducting A Cost Risk Analysis
Level
Expert Level (Controls Manager)
Discipline
Planning & Scheduling
  • Is able to supervise or manage how others identify and quantify risk impacts, prioritize those risks then demonstrate and explain how risks can be mitigated or otherwise be incorporated into the CPM schedule, facilitating decisions from the relevant stakeholders, the objective being to offer constructive criticism to improve the process
  • Be able to supervise or manage how others analyze the risks and uncertainty, then calculate the appropriate contingencies for presentation to and decisions by the relevant stakeholders, the objective being to offer constructive criticism to impr

0808ELPS

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-8 Validating Horizontal And Vertical Integration
Level
Expert Level (Controls Manager)
Discipline
Planning & Scheduling
  • To be able to supervise or manage how others identify the various types of interfaces that can and do exist between work packages and activities, create or make those logical connections,  to ensure that we have horizontal traceability in terms of cost, the objective being to offer constructive criticism to improve the process
  • Can supervise or manage how others identify and apply the various tools/techniques that we can use between work packages and activities to ensure that we have vertical traceability and that our schedules can "roll up" or "roll down" without losing ac

0807ELPS

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-7 Validate The Time & Cost Trade-Offs
Level
Expert Level (Controls Manager)
Discipline
Planning & Scheduling
  • To be able to supervise or manage the assumptions and conduct sensitivity analysis done by others, and using that information, be able to create, modify or update the activity based costing process, tools, techniques or methodology to satisfy the needs, wants and expectations of the key stakeholders
  • Be able to supervise or manage how others set up and run a Monte Carlo simulations, be able to read and understand the outputs from a Monte Carlo simulation and based on those results make the appropriate recommendations to the relevant decision makers, the objective being to offer
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