1. NExT
  2. Business Management
  3. Risk-Weighted Cost Estimates

Risk-Weighted Cost Estimates

Level: Skill | Type: Classroom | Discipline: Costs Risk and Uncertainty

A methodology to derive risk-weighted cost estimates will be presented and practical applications for budget setting and contingency management will be discussed. Group exercises will be conducted with hands on practice on the development of risk-weighted cost estimating risk models. Cost estimating modeling prerequisites including Basis Of Estimate documentation, peer review of cost estimates and risk ranging workshops will be covered.

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      • Developing Base Cost Estimates
      • Basis of Estimate Documentation
      • Conducting Risk Workshops
      • Developing cost estimating risk models
      • Budget Setting and Contingency Derivation
      • Contingency Drawdown

This course will be suitable for individuals involved in preparation and approval of cost estimates, budgets and contingency funds. It is also applicable to stakeholders involved in project execution and risk management.

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