Description:

This micro-course equips you with the fundamental skills and knowledge needed to excel in cost planning within a project setting. You will gain an understanding of key terminology and the fundamentals of budgeting and cost control, empowering you to make informed financial decisions..

Key Highlights:

• Contract Breakdown Prices 
• Tender Estimates 
• Work Breakdown Structure 
• Cost Code 
• Project Number (Job Code)Activity Code 
• Sub-job Code (Activity Code) 
• Resource Code (Account Code) 

What you will learn:

• Contract Breakdown Prices Learn costs associated with a contract. It outlines the individual components or elements of the contract, such as labor, materials, equipment, overheads, and other expenses. This breakdown is often used for budgeting, cost control, and ensuring accountability in financial planning or project execution
• Tender Estimates Explore the detailed cost projections developed by contractors, suppliers, or bidders during the tendering process. These estimates encompass anticipated expenses for materials, labor, equipment, overheads, and other costs necessary to complete the work or deliver the goods specified in the tender documents.
• Work Breakdown Structure (WBS) is a hierarchical breakdown of a project into manageable tasks, serving as a foundation for scheduling, budgeting, and team communication.
• Cost Code is an identifier used to categorize and track project expenses, aiding in budgeting, monitoring, and reporting by organizing costs by activities, tasks, or resources.