CERTIFIED ESTIMATING PROFESSIONAL (CEP)
Master the Art and Science of Cost Estimating for Project and Business Success.
Course Schedule
| Venue (InHouse) | Fees |
|---|---|
| At Your Organization Premises | Ask For The Quotation |
Course Introduction
The Certified Estimating Professional (CEP) certification preparation course is designed to develop high-level competency in cost estimating, supporting professionals seeking AACE International’s CEP credential. This intensive course provides deep knowledge of estimating concepts, methodologies, tools, and best practices used across industries.
Participants will explore practical applications of estimating for capital projects, operations, engineering, and construction through real-world examples, case studies, and guided exercises aligned with the AACE Body of Knowledge.
Course Objectives
By the end of this training, participants will be able to:
- Understand the principles and techniques of cost estimating
- Classify estimates using AACE’s Estimate Classification System
- Prepare and analyze estimates at various stages of the project lifecycle
- Utilize quantitative tools, risk analysis, and benchmarking in estimates
- Apply estimating methods for materials, labor, equipment, and overhead
- Prepare for the CEP certification exam through practice questions and scenarios
Key Benefits of Attending
- Gain an in-depth understanding of professional estimating standards
- Build credibility and expertise in cost estimation within your industry
- Advance your career with a globally respected certification
- Learn to produce accurate, defensible, and structured estimates
Intended Audience
- Cost Engineers, Estimators, and Quantity Surveyors
- Project Managers and Controls Professionals
- Procurement and Contract Specialists
- Engineering and Construction Managers
- Professionals preparing for AACE’s CEP certification
Individual Benefits
- Develop advanced estimating proficiency across multiple disciplines
- Enhance your project contribution and leadership visibility
- Prepare effectively for AACE’s Certified Estimating Professional exam
- Join a global network of AACE-certified professionals
Organization Benefits
- Improve cost predictability and budget accuracy
- Reduce risks associated with cost overruns
- Enhance proposal quality and competitive bidding
- Support strategic planning through reliable cost information
Instructional Methdology
- Structured lectures and exam-focused theory
- Hands-on estimating exercises and software demos
- Interactive case studies and workshops
- Practice exams and review of sample questions
- Group discussion and instructor-led coaching
Course Outline
DETAILED 5-DAY COURSE OUTLINE (CUSTOMIZABLE)
Day 1: Estimating Principles & Classifications
- Module 1: Introduction to Cost Estimating & AACE CEP Framework (07:30 – 09:30)
- Module 2: Estimate Classification System (Class 5 to Class 1) (09:45 – 11:15)
- Module 3: Work Breakdown Structure (WBS) and Cost Elements (11:30 – 01:00)
- Module 4: Estimating Inputs: Scope, Quantity Take-off, and Basis (02:00 – 03:30)
Day 2: Estimating Techniques & Methodologies
- Module 1: Conceptual vs Detailed Estimating (07:30 – 09:30)
- Module 2: Parametric, Analogous, Bottom-up, and Monte Carlo Methods (09:45 – 11:15)
- Module 3: Direct Costs: Labor, Material, Equipment (11:30 – 01:00)
- Module 4: Indirect Costs, Overheads, and Escalation (02:00 – 03:30)
Day 3: Estimating Practices in Engineering & Construction
- Module 1: Design Estimates & Capital Project Lifecycle (07:30 – 09:30)
- Module 2: Engineering Man-Hour & Deliverables Estimating (09:45 – 11:15)
- Module 3: Construction Productivity & Unit Rate Analysis (11:30 – 01:00)
- Module 4: Equipment & Material Cost Estimating (02:00 – 03:30)
Day 4: Risk, Benchmarking, and Estimate Review
- Module 1: Risk Analysis and Contingency Estimation (07:30 – 09:30)
- Module 2: Benchmarking and Historical Data Usage (09:45 – 11:15)
- Module 3: Estimate Review, Reconciliation, and Validation (11:30 – 01:00)
- Module 4: Life Cycle Costing & Value Engineering (02:00 – 03:30)
Day 5: CEP Exam Preparation & Final Assessment
- Module 1: Overview of CEP Exam Structure and Guidelines (07:30 – 09:30)
- Module 2: Practice Questions & Exam Simulation (09:45 – 11:15)
- Module 3: Individual Feedback, Clarifications, and Review (11:30 – 01:00)
- Module 4: Final Exam, Wrap-Up, and Study Plan for Certification (02:00 – 03:30)
Certification
Upon completion, participants will receive a Certificate of Completion – CEP Preparation Course. This program supports participants in preparing for the Certified Estimating Professional (CEP) exam administered by AACE International and aligns with the latest Body of Knowledge and exam structure.