Learning Units: 1 LU|HSW
About this Course
Differentiating between Cost Management and Cost Estimating, this course describes the merits of using Cost Management as a design tool to maximize efficiency and improve performance. Details of the Cost Management process will be taught, and current economic trends influencing Cost Management will be discussed.
Learning Objective 1:
Define specific advantages of utilizing Cost Management in addition to Estimating to the Architectural/Engineering Design process.
Learning Objective 2:
Understand how escalation affects construction costs and what consideration should be given to escalation costs in current construction budgets.
Learning Objective 3:
Understand the differences between Cost Management and Cost Estimating as they relate to design and construction.
Learning Objective 4:
Understand the influences and factors of the current economic climate that are causing construction costs to increase.