Advanced registration for this session is now closed. A limited number of registrations will be accepted at the door.

Seminar

The subject of managing project costs has always been a challenge, but in our current environment of rapidly escalating costs and competition for scarce resources, it is even more so.

This full-day workshop is for technical personnel involved in capital projects, not for accountants. Although we must cover how project cost management systems tie in to corporate accounting systems, it is more about forecasting future costs than recording historical costs.

Topics presented will include:

The Hard Skills of Cost Management

• Influencing the cost curve
• WBS and accounting codes
• Cost Estimates and Work Packages
• Contingency and Reserves
• Recasting a capital cost estimate into a control budget
• The budget change process
• Forecasting Final Costs
• Assessing the Outstanding Risks
• Managing Contingency, Reserves, Escalation, and Interest during Implementation phase
• Systems for Cost Management
• Excel
• PMT for MoT
• Integrated Systems
• Earned value

The Soft Skills of Cost Management

• Extracting the forecasts for work packages
• Risk-based approach to contingency analysis
• Managing the Sponsors and their Reserves
• Politics and Cost Management
• Communications and Cost Management

This workshop will consist of a number of group exercises to provide useable experience.

Instructor:

Bryan McConachy, P.Eng., Bramcon Project Consultants Ltd.

Bryan McConachy is a professional engineer with more than 30 years' experience in the management of a diverse range of projects. Mr. McConachy established Bramcon Project Consultants Ltd., a firm that provides project management support and capital project development as well as training and coaching. The early years in training were in the areas of the Project Management Body of Knowledge leading to Project Management certification. In the past few years, he has presented workshops on a variety of topics including Value Engineering, Managing Project Costs, Politics in Project Management and Expedited Communications for Dispersed Teams. All have been part of APEGBC's Continuing Professional Development Program.

Mr. McConachy is active in such organizations as the Association for Advancement of Cost Engineering and the Project Management Institute (PMI). He obtained the Project Management Professional (PMP) Certification from PMI in 1989 and in 1996; he was awarded the Honour of PMI Fellow.

What Previous Participants have said about this Seminar:

• “Instructor was very knowledgeable about the subject matter and presented it well.”
• “Very good topic for engineers managing capital projects.”
• “Obviously very experienced in field.”
• “Excellent material, very well presented, good timing to the presentation.”
• “Very professional, knows the material very well, good job!”

APEGBC is an AIBC/CES registered provider offering an AIBC-Accredited activity for 6.5 Core Learning Units.

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