Adjusting Prices in Cost Estimates
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Speaker : SALEH MUBARAK
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When : Thursday, April 10, 2025
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Time : 03 : 00 PM EST
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Saleh Mubarak, Ph.D.
- Construction project management professional, professor, consultant, author, public speaker, and trainer.
- Ph.D. in civil engineering from Clemson University, USA, specialized in Construction Project Management.
- Experience: 35 years, diversified:
o Industrial: private and public sectors, in the U.S. and international. Positions occupied include project engineer / manager, cost estimator, planner / scheduler, project controls manager, cost manager, training manager.
o Academic: faculty member / professor, head of department. - Extensive experience in continuing education and professional training around the world.
- Author of:
o Construction Project Scheduling and Control, Wiley, 4th edition.
o How to Estimate with Means Data: Basic Skills for Building Construction, Wiley, 5th edition.
o Project Management in the Construction Industry: From Concept to Completion, Wiley, 1st edition - Many presentations at professional conferences such as PMI, AACE International. Public speaker in many local, regional, and international events.
- An authority on project planning, scheduling, and project control.
An advocate of holistic healthy living.
This webinar discusses all factors a typical construction cost estimator must consider when preparing an estimate, approximate or detailed. It has two different tracks: approximate and detailed cost estimates, although many of the factors are the same in both cases. The seminar discusses adjusting unit prices based on an increase or decrease in production rate. It discusses the impact of fluctuation in production rate on activity and project duration, which affects the cost.
The webinar also discusses indirect expenses such as overhead, profit, contingency allowance, inflation/escalation allowance, and how to adjust them. Finally, the seminar takes a look at the final number and whether or not it looks reasonable.
Areas Covered
- The calculation of unit price in cost estimate and how it relates to productivity
- Factors that may affect productivity and how to apply it to unit price
- Other factors that may affect the cost estimate of a project
- The relationship between cost estimating and scheduling / duration
- Applying adjustments to indirect costs such as overhead and profit.
- Hints for more efficient cost estimates
Who Should Attend
This webinar is important for general contractors, subcontractors, cost estimators and managers, project managers, project controls managers, planners, schedulers, architects, and engineers.
Why Should You Attend
This webinar is important for the entire project management team, particularly those in cost estimating, cost management, and project controls. The topic is important to general contractors and subcontractors. Failure to make proper adjustments may lead to losses (decreased profit) or missed opportunities. There are many items and issues that a cost estimator must pay attention to, sometimes they may not be so clear or direct. Some factors have to do with productivity rate, market fluctuations, location, and others. This seminar will cover the most important factors and how to apply the cost adjustment.
Topic Background
Preparing an approximate or detailed cost estimate is an art, science, and adventure. One of the key functions is to adjust prices, unit prices, percentages, and total, based on factors that relate to the project design and condition, location and its climate, project parties, and the general contractor’s situation. This is the summary of this webinar.
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$160.00
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