Accounting Policies and Procedures
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Professional training course · AF-012
Certified Cost Professional
Effective cost management is essential for keeping projects financially controlled, commercially viable, and aligned with organizational objectives. Cost professionals…
- 5 daysClassroom
- 10Upcoming dates
- 7Cities
- £2,250Fees from
Course overview
Why Attend
Effective cost management is essential for keeping projects financially controlled, commercially viable, and aligned with organizational objectives. Cost professionals need a strong command of estimating, budgeting, forecasting, cost control, economic analysis, and performance measurement throughout the project lifecycle. This programme develops the practical and analytical capabilities required to manage project costs, evaluate financial performance, identify variances, and support sound management decisions.
Course Methodology
The programme combines instructor-led sessions, practical calculations, cost-estimating exercises, case studies, forecasting workshops, earned value exercises, group discussions, and project-based scenarios. Participants apply cost engineering principles to realistic situations and develop practical approaches that can be transferred directly to their workplace.
Course Objectives
By the end of this course, participants will be able to:
- Apply fundamental cost engineering and cost management principles
- Develop reliable project cost estimates and budgets
- Establish effective cost control and performance measurement systems
- Analyze cost variances and forecast project financial outcomes
- Apply economic analysis techniques to support investment decisions
- Integrate cost, schedule, risk, and performance information
- Prepare meaningful cost reports for management decision-making
- Strengthen professional capabilities in project cost management
Target Audience
- Cost engineers and cost controllers
- Project managers and project controls professionals
- Estimators and quantity surveyors
- Planning and scheduling engineers
- Finance and commercial professionals
- Engineers responsible for project budgets and cost performance
- Professionals preparing for cost management certification
Target Competencies
- Cost engineering
- Cost estimating
- Budgeting and forecasting
- Project cost control
- Earned Value Management
- Economic analysis
- Cost risk management
- Performance reporting
Course outline
-
1Day 1: Cost Engineering and Cost Estimating Fundamentals
- Understanding the role and principles of cost engineering
- Exploring the project lifecycle from a cost management perspective
- Understanding cost classifications, structures, and terminology
- Developing the Cost Breakdown Structure (CBS)
- Applying different estimating methods and techniques
- Understanding estimate accuracy, assumptions, contingencies, and allowances
- Practical exercise: Preparing a structured project cost estimate
-
2Day 2: Budgeting, Planning, and Cost Control
- Converting estimates into approved project budgets
- Establishing cost baselines and control accounts
- Integrating cost information with the Work Breakdown Structure (WBS)
- Understanding commitments, expenditures, accruals, and cash flow
- Establishing effective project cost control procedures
- Identifying and analyzing cost variances
- Practical exercise: Developing a project cost baseline and control framework
-
3Day 3: Performance Measurement and Forecasting
- Understanding project performance measurement principles
- Applying Earned Value Management (EVM)
- Calculating and interpreting Cost Performance Index (CPI) and Schedule Performance Index (SPI)
- Forecasting Estimate at Completion (EAC) and Estimate to Complete (ETC)
- Conducting variance and trend analysis
- Developing accurate project cost forecasts
- Practical workshop: Analyzing project cost and schedule performance
-
4Day 4: Economic Analysis, Risk, and Decision-Making
- Understanding the time value of money
- Applying cash-flow analysis to project decisions
- Using Net Present Value (NPV), Internal Rate of Return (IRR), and payback techniques
- Evaluating alternative investment and project options
- Understanding uncertainty and cost risk
- Applying contingency and risk-based cost analysis
- Practical exercise: Evaluating project alternatives using economic and risk analysis
Dates and fees
Questions
Frequently asked questions
How long is the Certified Cost Professional course?
The course runs over 5 days of classroom training, usually Monday to Friday.
When is the next Certified Cost Professional course?
The next public date is 4 - 8 Jan 2027 in London. There are 10 upcoming dates in total.
Where is this course held?
Upcoming sessions run in London, Kuala Lumpur, Istanbul, Frankfurt, Munich, Barcelona, Amsterdam.
How much does the course cost?
Fees start from £2,250 + VAT per delegate, depending on the city. Fees include tuition and course materials.
Do participants receive a certificate?
Yes. Delegates who complete the course receive a London Leadership Management Innovation certificate of completion.
Can this course be delivered in-house for our team?
Yes. LLMI can tailor and deliver this course privately for your organisation at your premises or in one of our training cities.
Course information last updated 14 November 2026.
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