Understand the principles of effective practices in projects in order to achieve the expectations on project profitability.
Explain about the body of knowledge and standards of conduct for the practice of cost management.
Provide insights on project cost elements understanding along with quantifying and managing project cost thoroughly during bidding/proposal stage and during execution of the project.
Impart the skills to Estimate and Control Cost in Project Development and Implementation stage.
Focus on essentials aspects - nature of the costs, cost concepts, costing methods, cost units, cost centres, cost behavior, cost-volume- profit analysis, budgeting basics and its use in EPC project monitoring and control.
Cost Management is one of the key 15 competencies as per PRAGATI (L&T’s Project Leadership Development Program).