0802CLPC

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-2 Develop Cost Estimating & Budgeting Policies & Procedures Manual
Level
Specialist (Controls Practitioner / Senior Project Manager)
Discipline
Project Controls
  • Assuming you were asked to create an SOP, be able to explain how you would design an SOP for Project Controls
  • Be able to list and explain the components or elements, which should be included in any SOP?
  • Be able to demonstrate how to use Double Loop Learning to modify or update your SOP

0810CLFA

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-10 Baselining And Communicating The Cost Estimate/Cost Budget
Level
Specialist (Controls Practitioner / Senior Project Manager)
Discipline
Forensic Analysis
  • Be able to 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
  • Be able to analyse the cost estimate or the performance measurement baseline including updates data the write a narrative report appropriate for each category of stakeholder
  • Be able to determine what information needs to be included in a cost and resource loaded schedule in order for it to b

0809CLFA

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-9 Conducting A Cost Risk Analysis
Level
Specialist (Controls Practitioner / Senior Project Manager)
Discipline
Forensic Analysis
  • Is able to 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
  • Be able to analyse the risks and uncertainty, then calculate the appropriate contingencies for presentation to and decisions by the relevant stakeholders
  • Be able to 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

0808CLFA

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-8 Validating Horizontal And Vertical Integration
Level
Specialist (Controls Practitioner / Senior Project Manager)
Discipline
Forensic Analysis
  • Can 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
  • Can 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 activities or work packages, and be able to explain/justify/rationalize the use of that tool/technique to the relevant stakeholders

0807CLFA

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-7 Validate The Time & Cost Trade-Offs
Level
Specialist (Controls Practitioner / Senior Project Manager)
Discipline
Forensic Analysis
  • To be able to test/validate assumptions and conduct sensitivity analysis using the appropriate tools/techniques and then apply the results in drawing conclusion, making decisions or recommendations to the relevant stakeholders
  • Be able to 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

0806CLFA

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-6 Developing The Contractors Cost Estimate (Bottom Up)
Level
Specialist (Controls Practitioner / Senior Project Manager)
Discipline
Forensic Analysis
  • Is able to  analyse the Bills of Quantities or Bills of Materials, including those coming from BIM, perform a "reality check" to see if they appear accurate, precise and reliable then use the BoQ/BoM as inputs in calculating both costs and durations
  • Is able to analyse 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 apply them to create a cost estimate/budget which meets the Level 5 accuracy ranges
  • Be able to modify or adapt existing

0805CLFA

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-5 Define The Estimates Purpose And Interpret The Scope Of Work (Contractor)
Level
Specialist (Controls Practitioner / Senior Project Manager)
Discipline
Forensic Analysis
  • Is able to facilitate and lead a cost estimate development meeting, including determining who should attend and what the role/responsibilities of each participant should be
  • Is able to apply value analysis/value engineering tools, techniques or methodologies as appropriate and be able to apply the results of the VA/VE in drawing conclusion, making decisions or recommendations to the relevant stakeholders
  • Is able to determine what the appropriate level of detail should be fo

0804CLFA

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-4 Creating The Owners Cost Estimate (Top Down)
Level
Specialist (Controls Practitioner / Senior Project Manager)
Discipline
Forensic Analysis
  • Is able to analyse the various Standardized WBS Coding structures, sources of cost estimating data and any limitations or constraints, then select or apply the most appropriate codes to be "fit for purpose"
  • Is able to analyse the various cost estimating software tools/techniques, then apply them appropriately to solve a specific problem or answer a specific question
  • Is able to analyse 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 apply

0803CLFA

Module
08 Managing Cost Estimating & Budgeting
Sub-Module
M08-3 Define The Estimates Purpose And Scope Of Work (Owner)
Level
Specialist (Controls Practitioner / Senior Project Manager)
Discipline
Forensic Analysis
  • Is able to identify what topics should be covered in a cost estimate 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 select, choose or recommend the appropriate level of detail for any given phase in the asset/project life span, along with being able to analyse and assess the constraints and assumptions appropriate for that phase
  • Is able to select the "best" or "most
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