Course Description

Introduction to Cost | 3308

$450

This Introduction to Cost training course is designed for individuals that do not have any Cost Management experience. This course will give you a basic understanding of the fundamentals of Cost Management using material that is easily relatable without having industry experience. It will also introduce the difference between Turnarounds and Capital Projects. This course will be a hybrid of lectures and hands-on activities.

Duration: Self-Paced

Self Paced Online Module

Software required to complete the exercises in this course: Microsoft Excel

Please contact us at training@tepco.us for any questions you may have.

Course curriculum

  • 1

    Course Introduction

    • Welcome to Introduction to Cost | Download Course Files

    • Course Introduction

  • 2

    Section 01: Cost Management

    • Purpose and Objectives

    • 1.1 What is Cost Management

    • 1.2 Processes

    • 1.3 Why is it important?

  • 3

    Section 02: Cost Breakdown Structure

    • Purpose and Objectives

    • 2.1 What is a Cost Breakdown Structure?

    • Section 1 & 2 Review Questions

  • 4

    Section 03: Estimate and Budget Development

    • Purpose and Objectives

    • 3.1 Estimate vs Budget

    • 3.2 Estimate Development

    • 3.3 Class Exercise: Building Doghouse Estimate

    • 3.4 Budget Development

    • 3.5 Class Exercise: Building Doghouse Budget

    • Section 3 Review Questions

  • 5

    Section 04: Cost Report

    • Purpose and Objectives

    • 4.1 What is a Cost Report

    • 4.2 Critical data included in Cost Report

    • 4.3 Class Exercise: Building & Populating the Cost Report

  • 6

    Section 05: Cost Control

    • Purpose and Objectives

    • 5.1 Cost Control Steps Overview

    • 5.2 Cost Tracking Sheet

    • 5.3 Class Exercise: Updating the Cost Report with Actuals

    • Section 4 & 5 Review Questions

  • 7

    Section 06: Change Management

    • Purpose and Objectives

    • 6.1 What is Change Management?

    • 6.2 Class Exercise: Updating the Cost Report with CWR Data

  • 8

    Section 07: Capital vs Turnaround

    • Purpose and Objectives

    • 7.1 Capital Projects

    • 7.2 Turnaround

    • Section 6 & 7 Review Questions

  • 9

    Terminology

    • Course Definitions

  • 10

    Final Exam Information

    • Course Completion and How to Access the Final Exam

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