Realistic Cost Ranges

Learn to create accurate cost ranges to enhance project budgeting and risk management.

Advanced Techniques

Dive into 3-point, PERT, and Monte Carlo estimating methods to ensure precise project cost estimates.

Risk Management

Master the art of identifying and quantifying cost uncertainty, using methods only used by the few.

Explore the World of Project Capital Cost Estimation

Join us to delve into the intricacies of project cost range estimation, from understanding uncertainty to applying statistical analysis. Gain the expertise to present estimates effectively and apply range estimating methodologies across project phases. Take the first step towards mastering project budgeting and risk management today!

Meet Your Expert Instructor

Hi there, it's SPJ Smit, the founder of SPJ Consulting, bringing you a wealth of knowledge accumulated over three decades in the fields of business, project management and controls. Let's dive into the world of Project Capital Range Estimating together and reshape the way projects are budgeted!

Course Curriculum

8 Chapters · 68 Lessons

  1. 1

    Introduction

    1. (Included in full purchase)

      SPJ Consulting

    2. (Included in full purchase)

      Welcome

    3. (Included in full purchase)

      Importance of Accurate Cost Estimates

    4. (Included in full purchase)

      Importance of Accurate Cost Estimates (Text)

    5. (Included in full purchase)

      One Billion $ Project Value?

    6. (Included in full purchase)

      Limitations of Single-Point Estimates

    7. (Included in full purchase)

      Limitations of Single Point Estimates (Text)

    8. (Included in full purchase)

      Interesting Project

    9. (Included in full purchase)

      How about that One Billion Dollar Project?

  2. 2

    Fundamentals

    1. (Included in full purchase)

      Why the need Statistical Analysis Skills?

    2. (Included in full purchase)

      Understanding the Statistical Basis for Range Estimating (Text)

    3. (Included in full purchase)

      Uncertainty versus Risk

    4. (Included in full purchase)

      Understanding Uncertainty and Risk (Text)

    5. (Included in full purchase)

      Risk Frameworks

    6. (Included in full purchase)

      More Core Principles: Risk Profile Frameworks (Text)

    7. (Included in full purchase)

      Practical Approaches to Identify Cost Uncertainty

    8. (Included in full purchase)

      Practical Approaches to Identify Cost Uncertainty (Text)

    9. (Included in full purchase)

      How about that One Billion Dollar Project?

  3. 3

    Techniques & Methods

    1. (Included in full purchase)

      AACEI

    2. (Included in full purchase)

      AACEI (Text)

    3. (Included in full purchase)

      AACEI Website Link

    4. (Included in full purchase)

      Estimating Methods

    5. (Included in full purchase)

      Estimating Methods (Text)

    6. (Included in full purchase)

      Basics of Range Estimating

    7. (Included in full purchase)

      Basics of Range Estimating (Text)

    8. (Included in full purchase)

      Subjectivity & PERT

    9. (Included in full purchase)

      Three-Point Estimating (PERT) (Text)

    10. (Included in full purchase)

      Basic PERT Model

    11. (Included in full purchase)

      Basic Pert Model Assignment

    12. (Included in full purchase)

      Solution: Basic PERT Model Assignment

    13. (Included in full purchase)

      How about that One Billion Dollar Project?

  4. 4

    Techniques and methods continued

    1. (Included in full purchase)

      Monte Carlo Simulation

    2. (Included in full purchase)

      Introduction to Monte Carlo Simulation (Text)

    3. (Included in full purchase)

      Monte Carlo Explained with Dice and Craps

    4. (Included in full purchase)

      Basic Monte Carlo Model

    5. (Included in full purchase)

      Monte Carlo Simulation Assignment

    6. (Included in full purchase)

      Solution: Basic Uncertainty Monte Carlo Model

    7. (Included in full purchase)

      Sensitivity Analysis

    8. (Included in full purchase)

      Sensitivity Analysis (Text)

    9. (Included in full purchase)

      Contingency and Reserves

    10. (Included in full purchase)

      Using Contingency and Reserves

    11. (Included in full purchase)

      How about that One Billion Dollar Project?

  5. 5

    Statistical Analysis & Tools

    1. (Included in full purchase)

      Probability Distributions and Confidence Levels

    2. (Included in full purchase)

      Probability Distributions & Confidence Levels (Text)

    3. (Included in full purchase)

      Essential Skills for Accurate Project Capital Estimates

    4. (Included in full purchase)

      Basic Statistical Calculations (Text)

    5. (Included in full purchase)

      Using Excel for Basic Analysis

    6. (Included in full purchase)

      AACEI Accuracy Ranges

    7. (Included in full purchase)

      AACEI Accuracy Ranges

    8. (Included in full purchase)

      Regression Analysis

    9. (Included in full purchase)

      Predicting Project Capital Cost with Regression

    10. (Included in full purchase)

      Quick Regression Analysis (Text)

    11. (Included in full purchase)

      Skills required to better Project Capital Estimaing.

  6. 6

    Communication & Application

    1. (Included in full purchase)

      Presenting Range Estimates Effectively

    2. (Included in full purchase)

      Presenting Range Estimates Effectively (Text)

    3. (Included in full purchase)

      More on presenting a "Good Story"

    4. (Included in full purchase)

      Note: Applying Range Estimating Across Project Phases

    5. (Included in full purchase)

      Case Studies and Practical Exercises

    6. (Included in full purchase)

      Practising range estimating techniques?

  7. 7

    Software and Tools

    1. (Included in full purchase)

      Note: Available Software

    2. (Included in full purchase)

      AI versus Humans Round 1

    3. (Included in full purchase)

      AI versus Humans Round 2

    4. (Included in full purchase)

      The Role of Artificial Intelligence (AI)

    5. (Included in full purchase)

      AI

  8. 8

    Recommended Reading List

    1. (Included in full purchase)

      Recommended Reading Material

    2. (Included in full purchase)

      Thank You

    3. (Included in full purchase)

      Course Material

    4. (Included in full purchase)

      Slide Pack

Ready to Transform Your Project Cost Estimation Skills?

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