Cost Engineering workbook consists of 6 modules with readings, videos, knowledge checks, and assignments. You must complete the assignments in sequence, but all materials are available for review at any time.

## Course introduction [approx. 1 hour]

An explanation of the course policies and how to navigate the course site.

1 reading 1 video

## Module 1: Economic Analysis Learning Objectives [approx. 5 – 7 hours]

At the end of this module you will be able to:

- Explain the terms period interest rate, present value, future value, annual payment, number of interest periods and calculate one of them given the other terms.
- Apply the basic time value formulas to simple story problems.
- Draw cash flow diagrams to depict basic engineering economic problems to assist with their solutions.
- Demonstrate an understanding of the various decision-making situations that engineering economics fundamentals are applicable.
- Apply Engineering Economics basics to deciding between alternatives, calculating rate of return for investments, incorporating depreciation and taxes into the economic analysis, and performing benefit cost analysis.
- Calculate the benefit to cost ratio for a project.
- Identify the best alternatives based on net present value.
- Identify the rate of return for any investment scenario.

1 reading 1 video 1 knowledge check 1 major assignment

## Module 2: Cost and Cost Estimation Learning Objectives [approx. 15.5 – 19 hours]

At the end of this module you will be able to:

- Demonstrate an understanding of the various types of conceptual estimates and parametric estimating approach.
- Apply the appropriate conceptual estimating technique; and Capacity Factor, Ratio or Factor, physical dimension, end-product methods.
- Adjust prices using cost indices for location and time.
- Prepare a detailed estimate.
- Calculate composite crew rate.
- Prepare unit price estimate and lump-sum estimate.
- Prepare a complete screening estimate for a manufacturing operation.
- Develop an operation cost graph and identify the break-even point and shut down point for the process.

8 readings 4 videos 4 knowledge checks 1 major assignment

## Module 3: Planning & Scheduling Learning Objectives [approx. 6 – 8.5 hours]

At the end of this module you will be able to:

- Compare and contrast planning and scheduling.
- Interpret typical scheduling terminology and the meaning of the terms related to the CPM method.
- Explain the various scheduling methods and draw simple networks and perform the scheduling computations.

2 readings 2 videos 2 knowledge checks 1 major assignment

## Mid-course review [approx. 3 – 5 hours]

An evaluation of your progress with feedback from a teaching assistant and your instructor.

1 Exam

## Module 4: Cost Control Learning Objectives [approx. 12 – 15.5 hours]

At the end of this module you will be able to:

- Show the various ways that progress can be measured on a project; the earned value concept; and calculations of schedule and cost performance and variance.
- Apply the least squares and learning curve methods to a set of historical data to develop a straight line projection for forecasting and to arrive at projections of the level of effort of future production.
- Identify the parts and the steps that are typically followed in a contract form and explain various forms of contracts.
- Select and use the appropriate contract form based on its relative advantages and disadvantages, and based on the project variables.

5 readings 4 videos 4 knowledge checks 1 major assignment

## Module 5: Project Management Learning Objectives [approx. 10.5 – 13.5 hours]

At the end of this module you will be able to:

- Understand the Basic Functions of Project Management.
- Explain the fundamentals of structuring a project organization and understand the various forms of organizational structure and when they apply.
- Explain the various principles underlying human behavior and affecting the management of a team; and approaches to leadership and management.
- Explain the basic principles and tools of Total Quality Management; productivity and methods to measure and improve productivity.
- Outline the value and the elements of life cycle costing; and six phase approach to value engineering.
- Explain what is meant by Strategic Asset Management and the elements that are included.

6 readings 4 videos 5 knowledge checks 1 major assignment

## Module 6: Statistics, Probability, and Risk Learning Objectives [approx. 5.5 – 8 hours]

At the end of this module you will be able to:

- Explain the concepts and measures of central tendency and variability.
- Describe a set of data using basic statistics.
- Calculate the mean, mode, median, variance, and standard deviation for a set of data.
- Explain the basic concepts of probability.
- Calculate a probability of a given a data set, mean, and standard deviation.

4 readings 2 videos 2 knowledge checks 1 major assignment

## Final Examination [approx. 3 – 5 hours]

An automated examination to self-assess your preparedness for AASCE certification. Upon completion, you will notify the TA to receive a course completion certificate. You will also be able to apply for the Continuing Education Units (CEUs) or Professional Development Hours (PDHs).

1 Exam