Cost Estimation & Project Budgeting

Introduction

Covers cost estimation methods and budgeting processes across project phases.

Objectives

• Prepare reliable cost estimates
• Develop realistic budgets
• Improve cost accuracy
• Support financial discipline

Target Audience

·         Project engineers

·          Cost engineers

·         Planners.

·         5-Day Scientific Program

Day 1

·         Cost structures in energy operations

• Fixed vs variable costs
• Cost drivers and behavior
• Cost transparency

Day 2

• Operational cost control techniques
• Maintenance and reliability cost impact
• Energy efficiency considerations
• Cost optimization

Day 3

• Cost tracking and reporting
• Variance analysis
• Root cause analysis
• Cost escalation management

Day 4

• Lifecycle costing concepts
• Asset lifecycle cost management
• Reliability vs cost trade-offs
• Long-term cost planning

Day 5

• Case studies
• Lessons learned
• Cost management toolkit
• Improvement action plan