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.

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