Section 01: Introduction
• Skills Required for Cost
• Cost Accountant Vs Cost Engineer
• Capital Vs Turnaround
Section 02: Terminology
• Review standard cost terminology
Section 03: Cost Management Process
• Discuss Resource Planning, Cost Estimating, Cost Budgeting, and Cost Control.
• Why it is important
Section 04: Turnaround Cost Cycle – High Level
• Discuss each phase of the Turnaround Lifecycle
• Discuss each phase of the Turnaround Cost Lifecycle
Section 05: Cost Breakdown Structure
• Discuss the 4 high-level cost groups and how each are defined.
• Discuss the importance of breaking each group out further and how it aligns with the schedule
Section 06: Estimate Development
• Discuss the different Estimates (Preparation, +/-50%, +/30%, +/-10%)
• Considerations for Development
Section 07: Budget Development
• Estimate vs Budget
• Discuss Histogram
• Review Staffing Plan, Bid Sheet, & Estimate breakdown sheet.
• Discuss Purchase Orders & Control Budget
Section 08: Industry Changes in Cost Control
• Work Orders vs Purchase Orders
• Challenging vs Accepting estimates or bids
Section 09: Preparing for Execution
• Communication with timekeepers
• Onboarding meetings
• Building required spreadsheets
Section 10: Cost Tracking & Control
• High level review of Cost Report
• Discuss Daily Force Reporting
• Discuss Daily Timesheet Reporting
Section 11: Deliverables to Management
• Briefly discuss typical deliverables
Section 12: Closeout
• Briefly discuss the closeout process and activities
