GoingToMeet

Introduction
Participants will be taught to understand the fundamentals of cost estimating, cost and price analysis, negotiation skills, cash flow management for projects, managing contracts and administration. They will also learn to minimize the risks after winning the contracts.


Objective
The two-days seminar helps participants to improve and refine their techniques to prepare tender estimates, negotiate and administer cash flow and contracts.



Outline

Introduction and Overview of Cost Estimating

· What is cost estimating

· Purpose, functions, objectives of cost estimating

· Uses of cost estimating

· Functions and organization of estimating department

· Roles and responsibilities of cost estimators



Preparing Estimates for Quotation

· Understanding the types of estimates

· Factors in cost estimating

· Steps in preparing a cost estimates for quotations/tendering

· Reviewing the tender requirements



Mechanics of Cost Estimating

· Cost estimate format

· Establish labour rates and labour cost calculations

· Types of overheads and overheads calculations

· Obtaining contractor/subcontractors quotations

- Cost exercises / Preparing quick cost estimates



Preparing Bond Calculations and Assessing Risks

· What are bonds? / Types of bonds / Exercise

· Assessment of risk and profits

· Stages in the preparation of tender submission



Establishing the Right Tender Pricing

– Types of pricing / Cost and price analysis / Price variations



The Tendering Process

· Determine the needs

· Specification writing and tender documents

· Tender evaluation and procedures

- Types of evaluation / Comparison of bids




Contract Negotiation and Contracts Administration

· Tender negotiation / Negotiation skills / Cash flow

· Project control management / Work exercises



Building a Tender Information System

· Data classification / Data gathering / Data storage and retrieval

· Software packages and evaluation



Training Methodology

This seminar is presented in English by way of lectures, discussions, group exercises and project presentation.


Who Should Attend
Estimating engineers, managers, purchasing officers executives, contract administrators, and others who are interested to refine and improve their tender pricing submissions will find this seminar very beneficial from the speaker’s experience.