C L A R I D E N February 2016

Transcription

1 Earn 16 PDUs for successful completion of each program! C L A R I D E N February 2016 Knowledge for the world business leaders Brisbane & Perth, Australia Construction Project Cost Planning and Control Week From Initiation to Closeout: Successful Cost Budgeting and Control 2 Separately Bookable Seminars in 2 Cities Construction Pre-Project Cost Planning, Estimation & Modeling Masterclass Session A: February 2016, Brisbane Session B: February 2016, Perth Peter Coombs Associate Director of Cost Management Aquenta Consulting Pty Ltd (part of AMEC Foster Wheeler) Pedram Danesh-Mand Director of Risk Management Aquenta Consulting Pty Ltd (part of AMEC Foster Wheeler) Construction Project Cost Control, Variance Analysis & Cost Management Session C: February 2016, Brisbane Session D: February 2016, Perth Andrew Hodgson Director of Brisbane Office Aquenta Consulting Pty Ltd (part of AMEC Foster Wheeler) Pedram Danesh-Mand Director of Risk Management Aquenta Consulting Pty Ltd (part of AMEC Foster Wheeler)

2 Construction Pre-Project Cost Planning, Estimation & Modeling Masterclass Session A: February 2016, Brisbane Marriott Hotel Session B: February 2016, Hyatt Regency Perth Peter Coombs Associate Director of Cost Management Aquenta Consulting Pty Ltd (part of AMEC Foster Wheeler) Assessor for the Royal Institution of Chartered Surveyors (RICS) for Quantity Surveying Competencies Non-Executive Board Member of the Oceania RICS Built Environment Board since 2013 Delivered a wide range of projects across property infrastructure and mining projects, valued at million and billion dollars With over 25 years of experience in the construction industry, Peter s professional career has taken him across Australia, Asia, UK and the Middle East, supporting private companies, governmental agencies, law firms and top contractors including Las Vegas Sands Corporation, Sundance Resources, Rio Tinto, Landcorp, Stocklands, WA Government of Western Australia, Majid Al Futtaim Group, Agung Podomoro Group, Sampoerna Group, Lendlease and Leighton Holdings on many major projects including: $5b Simandou process plants, West Africa $5b Mbalam Iron Ore Mining project, West Africa $4b Marina Bay Sands, Singapore $ multiple billion across the Coati Strip, Macau $1b Grand Indonesia Mixed use development, Indonesia $1b Albany Outer ring road, Western Australia $1b Bunbury Outer ring road, Western Australia $900m Sydney Light Rail, New South Wales $200m Banjup Quarry Redevelopment, Western Australia $200m Perth Airport Terminal 1 Expansion, Western Australia Peter has been a Non-Executive Board Member of the Oceania Royal Institution of Chartered Surveyors (RICS) Built Environment Board since He is also an assessor for the RICS for Quantity Surveying Competencies and has been involved with several Global working groups to promote and raise standards for RICS members. Peter is currently the Associate Director of Cost Management with Aquenta Consulting (part of AMEC Foster Wheeler), providing clients with cost management, cost estimation, value engineering, integrated project controls and risk solutions. Prior to that, he was an Associate Partner at EC Harris, delivering services on major projects in MENA and Asia and served as the Country Manager in Indonesia. 2

3 Construction Pre-Project Cost Planning, Estimation & Modeling Masterclass Session A: February 2016, Brisbane Marriott Hotel Session B: February 2016, Hyatt Regency Perth Pedram Danesh-Mand Director of Risk Management Aquenta Consulting Pty Ltd (part of AMEC Foster Wheeler) Innovation Award winner in quantitative risk analysis of project costs and schedules, from Australia s Road and Maritime Services (RMS) and Leighton Contractors Delivered a wide range of projects across Water, Power Generation, Coal, LNG and Oil & Gas, valued at million and billion dollars NSW President of Risk Engineering Society (RES) since 2013 Pedram is an Innovation Award winner from Australia s Road and Maritime Services (RMS) authority and Leighton Contractors for his exceptional knowledge and innovative application of quantitative risk analysis and Primavera system in analyzing project risks, cost and schedules. As an industry leader in his area, Pedram is regularly invited to present and facilitate at conferences and technical events as well as training sessions internationally. Pedram is currently the Director of Risk Management with Aquenta Consulting (part of AMEC Foster Wheeler), providing clients with integrated project controls and risk solutions. Prior to this, he was Aquenta s Principal and National Manager of Planning and Risk as well as the Head of Planning and Risk with UGL Engineering. He was proudly selected as part of UGL s Future Leaders program and was awarded with the ULead badge in Till date, Pedram has successfully helped high level government agencies, law firms and top contractors including QLD s Transport Main Road (TMR), NSW s Transport for NSW (TfNSW), NSW s Road & Maritime Services (RMS), UGL, Origin Energy, Corrs Chambers Westgarth lawyers, Maddocks lawyers, Electricity Trust of South Australia (ETSA), Leighton Holding, John Holland Group and Thiess Contractors on many major projects including: $11b Sydney Metro City & Southwest $11b West Connex $11b APLNG Upstream $5b Brisbane Underground & Bus $900m INPEX Ichthys LNG CCPP Project $800m Port Botany $500m Ballina Bypass $200m North West T-Way $100m Solomon Power Station RGP5, delay claim Gold Coast Rapid Rail, Due Diligence Pedram has been the NSW President of Risk Engineering Society (RES) since As part of Engineers Australia (EA), RES place special focus on risk issues associated with construction, design, safe plant operation and management. 3

4 Construction Pre-Project Cost Planning, Estimation & Modeling Masterclass Session A: February 2016, Brisbane Marriott Hotel Session B: February 2016, Hyatt Regency Perth EXECUTIVE SUMMARY Program: Dates & Locations: Construction Pre-Project Cost Planning, Estimation and Modeling Masterclass Session A: February 2016, Brisbane Marriott Hotel Session B: February 2016, Hyatt Regency Perth Early Bird 1 (Register & pay by 21 December 2015): Early Bird 2 (Register & pay by 18 January 2016): Regular Tuition Fee: AU$1,995 AU$2,195 AU$2,295 Group discount of 10% for 2nd participant from the same organization. For limited time only by 18 January 2016 register 3 participants and the 4th participant will receive a complimentary seat (One discount scheme applies). Program Essence: 50% of construction projects are prone to cost overrun, based on a recent study done by KPMG. This can lead to conflict and litigation, or in the extreme, projects abandonment. The ability to incorporate rigorous cost planning and estimation within project accounts for up to 75% of projects delivered successfully and on budget, representing its pivotal role in determining successful project outcomes. Clariden is pleased to host Construction Pre-Project Cost Planning, Estimation and Modeling Masterclass to help you improve your overall cost planning, estimation and modeling and ensure that your projects are delivered on budget with minimal cost overruns. Aligned with industry best practices and PMI PMBOK Guide, this practical two-day program will cover the important elements of project cost planning, estimation and modeling during the pre-project phase to allow you to forecast accurately the anticipated project lifecycle costs, budget estimates and payback period. You will have the opportunity to examine your own projects by applying proven cost planning, estimation and modeling techniques (i.e. parametric, analogous, three-point, and cost model estimating) and be introduced to more advanced estimating models like the 5D Building Information Modeling (5D BIM) that will transform your cost planning, estimation and modeling processes. In anticipation of uncertainties and risk events, you will also learn how to analyze cost risks to ensure optimal cost contingency reserve and sufficient cash flow projections. At the end of this program, you will walk away with a comprehensive action plan that will help you to benchmark your current approaches against best practices and create robust project cost plans, estimates and models that will drive the overall project delivery objectives. Held in conjunction with Construction Project Cost Control, Variance Analysis and Cost Management, Clariden cordially invite you and your colleagues to join us in this program that will greatly enhance your cost accuracy and profitability throughout your project lifecycle. 4

5 Construction Pre-Project Cost Planning, Estimation & Modeling Masterclass Session A: February 2016, Brisbane Marriott Hotel Session B: February 2016, Hyatt Regency Perth PROGRAM INTRODUCTION The decision to proceed with a construction project is often based almost exclusively on early conceptual cost plan, estimates and models as they provide the basis for the cash flow projections and budget forecasts used during the project feasibility study. Unreliable cost estimates can result in significant cost overruns later in the project life when it is too late to contain them. As potential projects are considered, management not only requires costs estimate and models of high accuracy, they also seek opportunities to reduce life-cycle costs, improve budget accuracy and optimize whole-life project value. Aligned with the Project Management Institute (PMI ) Guide to the Project Management Body of Knowledge (PMBOK Guide) and industry standards, this two-day executive program will teach on the essentials of construction project cost planning, estimation and modeling during the pre-project phase to allow you to forecast accurately the anticipated project lifecycle costs, budget estimates and payback period in order to justify capital investment decisions on projects that bring the most value to your organization. You will have the opportunity to examine your own projects as well as other real-world case studies by applying proven cost planning, estimation and modeling tools and techniques (i.e. parametric, analogous, three-point, and wide-band Delphi estimating). You will also be introduced to more advanced estimating models like the Building Information Modeling (BIM) that will transform your cost planning, estimation and modeling processes. Beyond that, this practical executive program will also cover a systematic approach to identify and quantify the uncertainties (inherent risks) and risk events (contingent risks), enabling a reasonable and optimum contingency to be assessed before the project execution. Approximately 50% of class time will be devoted to casework and experiential learning, drawing experience from both course leaders diverse backgrounds in project management and quantity surveying. The practical exercises, video presentations and case studies to be expected include: $11b tunneling and rail project: Cost and schedule contingency assessment $5b LNG project: Integrated cost-schedule risk analysis to assess the project confidence level A couple of complex power plants: Cost risk analysis of to assess the contingencies during the bid and delivery phases Identify the schedule and cost impacts Integrated cost-schedule risk analysis with software (i.e Acumen Primavera Risk Analysis) WHO WILL BENEFIT THE MOST MDs, VPs, Directors, GMs, CFOs, COOs, Heads, Senior Managers, Managers, Consultants, Controllers and Engineers responsible for: Project Management / Project Development / Project Execution Project Portfolio Management Project Management Office (PMO) Project Finance Project Cost Estimating / Cost Planning Project Cost Control / Cost Engineering Project Control Quantity Surveying Scheduling and Planning Integrated Scope Change Project Audit Risk Management Civil Engineering / Structural Engineering Supply Chain / Purchasing / Procurement This course is relevant to all construction projects including civil infrastructure, building, earthwork, oil & gas plant, port, marine structure and so on. 5

6 Construction Pre-Project Cost Planning, Estimation & Modeling Masterclass Session A: February 2016, Brisbane Marriott Hotel Session B: February 2016, Hyatt Regency Perth LEARNING OBJECTIVES Develop realistic cost estimates with proven and advanced estimating techniques Identify different types of capital budgeting techniques used to accurately and progressively estimate project costs Calculate contingency to anticipate and handle your project cost risk Estimate your project costs in conjunction with scope, time, risk and quality Determine your project s likelihood of success before you commit Explore the financial feasibility and options around optimum project delivery Identify the critical success factors in cost risk analysis and how to win tenders successfully with optimum contingency CPD CERTIFICATION DETAILS This course has been independently certified as conforming to accepted CPD guidelines. On average, this executive program contributes 16 hours towards your CPD. Delegates must register at the start and close of each workshop to be awarded a certificate of completion. PROGRAM AGENDA DAY ONE Cost Planning & Estimating (Faculty Director: Peter Coombs) Overview of Construction Project Cost Planning & Estimating Project cost planning and estimating in construction - objectives Cost planning - a capital expenditure decision Relevant standards, guides and cost estimating best practices Roles and responsibilities - who is doing what, how and when? Critical success factors in cost estimating Project Cost Planning Versus Cost Estimating Basic to advanced cost estimating principles Key focus areas during the project cost planning and estimating phases Which one is better - over-estimating or underestimating? Capital Investment Analysis Methods o Net Present Value (NPV) o Internal Rate of Return (IRR) o Payback Period o Return on Investment (ROI) o Cash Hole or Maximum Exposure o Profitability Index (PI) Cost Estimating during Project Planning Phase Types of cost estimating and modeling o Parametric estimating o Analogous estimating o Three-Point estimating o Cost Model estimating Advanced estimating models - 5D Building Information Modeling (BIM) Accuracy and confidence of different types of estimates Managing expectations and control estimates Cost estimation presentation, review and controls 6

7 Construction Pre-Project Cost Planning, Estimation & Modeling Masterclass Session A: February 2016, Brisbane Marriott Hotel Session B: February 2016, Hyatt Regency Perth Cost Budgeting & Cash Flow during Project Tender and Planning Phase Control budget creation - how cost estimates generate cash flow Cost control baseline - how cost baseline is set up for proactive cost control Estimate basis - how cost estimating data being captured for future references Reporting and communication plan - effective, efficient, comprehensive and transparent DAY TWO Cost Contingency Assessment & Risk Modeling (Faculty Director: Pedram Danesh-Mand) Contingency Management during Project Planning Phase Cost contingency requirements during planning phase Best practices - cost contingency assessment and risk modeling Roles and responsibilities - who is doing what, how and when? Challenges in contingency planning Critical success factors in cost risk analysis and how to win tenders successfully with optimum contingency Cost Risk Modeling Process during Project Planning Phase Components of a Cost Risk Model - develop a cost risk model for contingency assessment and allocation across the estimate and schedule during project planning phase Approaches in developing cost risk models for successful tenders o Order of Magnitude (Feasibility) estimate and model o Preliminary estimate and model o Definitive (Budget) estimate and model o Control estimate and model o Tender-Check estimate and model Which one is better - more contingency or less contingency? How to make the most optimum contingency to assess contingency for the desired confidence level? Monte Carlo Simulation in Cost Estimating and Contingency Assessment Monte Carlo Simulation in cost estimating Contingency assessment approaches - deterministic and probabilistic methods Accuracy and confidence levels of different schedule and cost contingency amounts Managing expectations - how to assess and communicate contingency for effective and efficient contingency Cost Contingency Allocation & Cash Flow Effectively split and distribute contingency across the project lifecycle and its different delivery packages to ensure a sufficient cash flow Contingency management plan development during planning phase Setting rules for contingency release, re-use, re-allocate during planning phase 7

8 Construction Project Cost Control, Variance Analysis & Cost Management Session C: February 2016, Brisbane Marriott Hotel Session D: February 2016, Hyatt Regency Perth Andrew Hodgson Director of Brisbane Office Aquenta Consulting Pty Ltd (part of AMEC Foster Wheeler) Trusted advisor to industry majors such as ExxonMobil, Shell, Origin Energy and British Nuclear Group Delivered a wide range of projects across Oil & Gas, LNG, Coal and Nuclear, valued at million and billion dollars Member of the Royal Institution of Chartered Surveyors (RICS) With over 20 years of solid background in Oil & Gas and infrastructure, Andrew s consultative approach and diligent technical prowess has seen him as trusted advisor for a wide range of clients within Australia and overseas. With broad ranging service expertise covering cost management, project controls and planning services, his client portfolio includes industry majors such as ExxonMobil, Shell, Queensland Alumina, Origin Energy and British Nuclear Group. Andrew is currently the Director in Aquenta s Brisbane office. With Aquenta, Andrew has supported ExxonMobil on its LNG project and was seconded on a mega multibillion dollar LNG project for over half a decade years. He also plays a critical role in project controls, financial support, budget development, forecasting and trending, reporting to business liaison within the Project Management Office (PMO). His first assignment was with ICI Chemicals as a term maintenance Quantity Surveyor, measuring progress claims whilst completing his part-time BSc Hons Degree. Following this introduction to the petrochemical industry, he moved on to a Shell Refinery, providing quantity survey, contract, reporting and cost management services across multiple disciplines including civil, scaffolding, insulation, mechanical, electrical, HV/LV and storage tank contracts. He then took on a long-term project in decommissioning a nuclear fuel storage facility before returned to Shell to deliver a major shutdown. 8

9 Construction Project Cost Control, Variance Analysis & Cost Management Session C: February 2016, Brisbane Marriott Hotel Session D: February 2016, Hyatt Regency Perth Pedram Danesh-Mand Director of Risk Management Aquenta Consulting Pty Ltd (part of AMEC Foster Wheeler) Innovation Award winner in quantitative risk analysis of project costs and schedules, from Australia s Road and Maritime Services (RMS) and Leighton Contractors Delivered a wide range of projects across Water, Power Generation, Coal, LNG and Oil & Gas, valued at million and billion dollars NSW President of Risk Engineering Society (RES) since 2013 Pedram is an Innovation Award winner from Australia s Road and Maritime Services (RMS) authority and Leighton Contractors for his exceptional knowledge and innovative application of quantitative risk analysis and Primavera system in analyzing project risks, cost and schedules. As an industry leader in his area, Pedram is regularly invited to present and facilitate at conferences and technical events as well as training sessions internationally. Pedram is currently the Director of Risk Management with Aquenta Consulting (part of AMEC Foster Wheeler), providing clients with integrated project controls and risk solutions. Prior to this, he was Aquenta s Principal and National Manager of Planning and Risk as well as the Head of Planning and Risk with UGL Engineering. He was proudly selected as part of UGL s Future Leaders program and was awarded with the ULead badge in Till date, Pedram has successfully helped high level government agencies, law firms and top contractors including QLD s Transport Main Road (TMR), NSW s Transport for NSW (TfNSW), NSW s Road & Maritime Services (RMS), UGL, Origin Energy, Corrs Chambers Westgarth lawyers, Maddocks lawyers, Electricity Trust of South Australia (ETSA), Leighton Holding, John Holland Group and Thiess Contractors on many major projects including: $11b Sydney Metro City & Southwest $11b West Connex $11b APLNG Upstream $5b Brisbane Underground & Bus $900m INPEX Ichthys LNG CCPP Project $800m Port Botany $500m Ballina Bypass $200m North West T-Way $100m Solomon Power Station RGP5, delay claim Gold Coast Rapid Rail, Due Diligence Pedram has been the NSW President of Risk Engineering Society (RES) since As part of Engineers Australia (EA), RES place special focus on risk issues associated with construction, design, safe plant operation and management. 9

10 Construction Project Cost Control, Variance Analysis & Cost Management Session C: February 2016, Brisbane Marriott Hotel Session D: February 2016, Hyatt Regency Perth EXECUTIVE SUMMARY Program: Dates & Locations: Construction Project Cost Control, Variance Analysis and Cost Management Session A: February 2016, Brisbane Marriott Hotel Session B: February 2016, Hyatt Regency Perth Early Bird 1 (Register & pay by 21 December 2015): Early Bird 2 (Register & pay by 18 January 2016): Regular Tuition Fee: AU$1,995 AU$2,195 AU$2,295 Group discount of 10% for 2nd participant from the same organization. For limited time only by 18 January 2016 register 3 participants and the 4th participant will receive a complimentary seat (One discount scheme applies). Program Essence: Poor cost performance is a severe problem for construction projects worldwide. Based on a KPMG recent study, 50% of major construction projects worldwide are prone to cost overruns, mainly attributed to poor project cost control, scope changes and ineffective cost management. Clariden is pleased to host Construction Project Cost Control, Variance Analysis and Cost Management to provide you with an integrated and strategic cost control, variance analysis and cost management approach to effectively detect cost deviations and efficiently manage them to keep within your project budget. Starting with establishing cost baselines, you will learn how to analyze and control cost performance as well as manage cost contingency from project initiation to close-out to ensure optimal cash flow. Equipped with proven cost control and management techniques (i.e. Earned-Value Management (EVM), Control Account Plans (CAPs) Variance Analysis, To-Complete Performance Index), you will benchmark your current approaches against the best practices. In addition, you will also discover comprehensive cost reporting and forecasting tools that can ensure cost vigilance and monitoring throughout your project lifecycle. At the end of this program, you will bring home with you an exclusive Tool Box to help you maintain the consistency between your budgeted and actual costs, ensuring successful project delivery on budget. Held in conjunction with Construction Pre-Project Cost Planning, Estimation and Modeling Masterclass, Clariden cordially invite you and your colleagues to join us in this program that will greatly enhance your cost accuracy and profitability throughout your project lifecycle. 10

11 Construction Project Cost Control, Variance Analysis & Cost Management Session C: February 2016, Brisbane Marriott Hotel Session D: February 2016, Hyatt Regency Perth PROGRAM INTRODUCTION Runaway budget costs are behind one-quarter of project failures for projects with budgets greater than US$350,000. Controlling and managing the costs throughout the project lifecycle has always been a constant challenge for all project managers and leaders as slight changes in project scope and schedule can potential lead to inordinate cost increase and influence the profits and losses of one s organization. An integrated and strategic approach in project cost control, variance analysis and cost management is therefore indispensable to effectively detect any cost deviations and efficiently manage them to keep within budget. Aligned with the Project Management Institute (PMI ) Guide to the Project Management Body of Knowledge (PMBOK Guide) and industry standards, this program will provide you with an integrated and strategic cost control, variance analysis and cost management approach to effectively track cost deviations and efficiently manage them within your project budget. Starting with establishing cost baselines, you will learn how to analyze and control cost performance as well as manage cost contingency from project initiation to close-out to ensure optimal cash flow. Equipped with proven cost control and management techniques (i.e. Earned-Value Management (EVM), Control Account Plans (CAPs) Variance Analysis, To-Complete Performance Index), you will benchmark your current approaches against the best practices. In addition, you will also discover comprehensive cost reporting and forecasting tools that can ensure cost vigilance and monitoring throughout your project lifecycle. Beyond that, this practical executive program will also introduce a systematic approach to assess and manage the uncertainties (inherent risks) and risk events (contingent risks) during project execution phase. Approximately 50% of class time will be devoted to casework and experiential learning, drawing experience from both course leaders diverse backgrounds in project management and quantity surveying. At the end of this program, you will bring home with you an exclusive Tool Box to help you maintain the consistency between your budgeted and actual costs, ensuring successful project delivery on budget. WHO WILL BENEFIT THE MOST responsible for: Project Management / Project Development / Project Execution Project Portfolio Management Project Management Office (PMO) Project Finance Project Cost Estimating / Cost Planning Project Cost Control / Cost Engineering Project Control Quantity Surveying Scheduling and Planning Integrated Scope Change Project Audit Risk Management Civil Engineering / Structural Engineering Supply Chain / Purchasing / Procurement This course is relevant to all construction projects including civil infrastructure, building, earthwork, oil & gas plant, port, marine structure and so on. 11

12 Construction Project Cost Control, Variance Analysis & Cost Management Session C: February 2016, Brisbane Marriott Hotel Session D: February 2016, Hyatt Regency Perth LEARNING OBJECTIVES Establish a project cost performance baseline for effective cost control Justify cost commitments with associated project work scope Enable timely and appropriate corrective actions by spotting early warning signs on cost variances using Earned Value Management (EVM) Deal agilely with changes in your project lifecycle to ensure that costs are expended in accordance with the project plan Control and manage cost from initiation to close-out phase Implement cost contingency plans and maintain risk management controls in anticipation of unforeseen risky events Improve and maintain cost performance and maximize your project s bottom-line CPD CERTIFICATION DETAILS This course has been independently certified as conforming to accepted CPD guidelines. On average, this executive program contributes 16 hours towards your CPD. Delegates must register at the start and close of each workshop to be awarded a certificate of completion. PROGRAM AGENDA DAY ONE (Faculty Director: Andrew Hodgson) Overview of Construction Project Cost Control & Variance Analysis Project cost control and variance analysis in construction - objectives Standards, guides and cost control best practices Roles and responsibilities - who is doing what, how and when? Critical success factors in cost control and change control Cost Control as Part of Integrated Project Control during Execution Phase Basic to advanced cost control principles throughout project lifecycle Key focus areas during integrated project cost control Which one is better - over-budget or under-budget? Cost Performance Measurement throughout Project Lifecycle Project cost accounting - expenditure profile Progress and cost performance measurement Change control and variance analysis - how actual data should be captured, assessed and managed to have an effective and efficient change control system Establish the project performance measurement baseline Case Studies Earned Value Performance Measurement, Reporting and Change Control Earned Value performance reviews and change requests Integrated Change Control System Cost forecasting and trending based on past performance o Determining Factors o Cost Results Methodology o Estimate At Completion (EAC) o Control Account Plans (CAPs) Variance Analysis Data integrity and systems - how different systems within project controls should be integrated to create one source of truth Reporting and communication plan - effective, efficient, comprehensive and transparent Case Studies 12

13 Construction Project Cost Control, Variance Analysis & Cost Management Session C: February 2016, Brisbane Marriott Hotel Session D: February 2016, Hyatt Regency Perth Exclusive Takeaway Tool Box Work breakdown structures Baselining processes Progress weightings Forecasting and trending of time and cost Data elements interpretation Practical group exercise - show how the tools work together and how data links through all of the tools to provide consistency between budgeted and actual costs DAY TWO (Faculty Director: Pedram Danesh-Mand) Variance Analysis & Contingency Management Cost contingency requirements during execution phase Best practices - cost control and risk management Roles and responsibilities - who is doing what, how and when? Challenges in cost control and management Critical success factors in cost risk analysis and how to deliver projects successfully with optimum contingency Cost Risk Modeling Process during Project Execution Phase Components of a Cost Risk Model - how to develop a cost risk model for contingency review and management (release, reuse and re-allocation) during execution o Cost control input o Risk register Approaches in developing cost risk models for successful project delivery Which one is better - more contingency or less contingency? How to make the most optimum contingency to assess contingency for the desired confidence level? Cost Contingency & Cash Flow Management Contingency management plan implementation during executive phase - deterministic and probabilistic methods Monte Carlo Simulation in cost estimating Accuracy and confidence levels of different schedule and cost contingency amounts Managing expectations - how to assess and communicate contingency for effective and efficient contingency Measure and manage available contingency against the required contingency for the desired confidence level during execution phase Implementing rules for contingency release, re-use, re-allocate If a risk has been retired and allocated contingency has not been used, how the contingency should be treated? Project Cost Status Updates & Close-Out Conduct financial completion Delivering successful projects Action plan 13

14 CONSTRUCTION PROJECT COST PLANNING AND CONTROL WEEK February 2016 Brisbane & Perth, Australia REGISTRATION PAGE C L A R I D E N Knowledge for the world business leaders PROGRAM FEES Session Session A & B: Construction Pre-Project Cost Planning, Estimation & Modeling Masterclass (15-16 Feb & Feb) Session C & D: Construction Project Cost Control, Variance Analysis & Cost Management (18-19 Feb & Feb) 1st Early Bird Fee Per Participant (If payments & registrations are received by 21 Dec 2015) AU$1,995 AU$1,995 2nd Early Bird Fee Per Participant (If payments & registrations are received by 18 Jan 2016) AU$2,195 AU$2,195 Regular Fee Per Participant AU$2,295 AU$2,295 GROUP DISCOUNTS Group discount of 10% for 2nd participant from the same organization. For limited time only by 18 January 2016 register 3 participants and the 4th participant will receive a complimentary seat (One discount scheme applies). Booking Contact (Approving Manager) Mr/Mrs/Ms: Job Title: Department: Telephone: Fax: Organization: Address: Postal Code: I would like to receive more information on hotel accommodation using Clariden Global coporate rate. Please register the following participant for this seminar. (Please tick to select your seminar(s). You may tick more than one.) 1st Participant Name (Mr/Mrs/Ms): Job Title: Department: Telephone: Fax: Date of Birth: Session(s): A (Brisbane) B (Perth) C (Brisbane) D (Perth) 2nd Participant Name (Mr/Mrs/Ms): Job Title: Department: Telephone: Fax: Date of Birth: Session(s): A (Brisbane) B (Perth) C (Brisbane) D (Perth) 3rd Participant Name (Mr/Mrs/Ms): Job Title: Department: Telephone: Fax: Date of Birth: Session(s): A (Brisbane) B (Perth) C (Brisbane) D (Perth) 4th Participant Name (Mr/Mrs/Ms): Job Title: Department: Telephone: Fax: Date of Birth: Session(s): A (Brisbane) B (Perth) VENUE AND ACCOMMODATION INFORMATION Brisbane Marriott Hotel & Feb Queen Street, Brisbane, Queensland 4000, Australia Tel: Fax: Website: travel/bnedt-brisbane-marriott-hotel/ C (Brisbane) D (Perth) Hyatt Regency Perth & Feb Adelaide Terrace, Perth, Western Australia, Australia, 6000 Tel: Fax: Website: 4 WAYS TO REGISTER admissions@claridenglobal.com Fax: Call: Website: PAYMENT METHODS BY CHEQUE / BANK DRAFT : Made payable to CLARIDEN GLOBAL INTERNATIONAL LIMITED and mail to: 3 International Business Park, #04-29, Nordic European Centre, Singapore BY TELEGRAPHIC TRANSFER TO: Bank Name: Standard Chartered Bank Bank code: 7144 Bank Branch code: 001 Bank Address: 6 Battery Road, #01-01 Singapore Bank Account No: Bank Account name: CLARIDEN GLOBAL INTERNATIONAL LIMITED SWIFT Code: SCBLSG22 Please note that all bank charges are to be borne by participants. Please ensure Clariden Global International Limited receives the full invoiced amount. Note: Please include invoice number on all payment types and your company s name in your payment instructions for our reference. CREDIT CARD: To make payment by credit card, please call our client services hotline at HOW TO REGISTER AND PAY An invoice and registration confirmation will be sent within 7 days, please contact us if you have not heard from us within 7 days. Payment can be made by credit card, by bank transfer or by cheque. ALL PAYMENTS MUST BE RECEIVED IN ADVANCE OF THE EVENT. ACCOMMODATION Accommodation is not included in the program fee but you will be entitled to use our corporate rate for your accommodation. Information will be sent along with your registration confirmation. CANCELLATIONS AND SUBSTITUTIONS Once we have received your booking, the place(s) are confirmed. No refunds will be made for any cancellations, however, program credits of equivalent value only applicable for Clariden Global events will be provided. Credits can only be redeemed for 1 program and is valid for only one (1) year from date of issue. Substitution with a qualified candidate is allowed by providing at least 5 working days of advance notice to Clariden Global. One time substitution is allowed with no charges. Subsequent substitutions will be charged 10% admin fee. ALL CANCELLATIONS MUST BE RECEIVED IN WRITTEN FORM PLEASE NOTE: Clariden Global International Limited reserves the right to change the content and timing of the programme, the speakers and the date and venue due to reasons beyond their control. If in the unlikely event that the course is cancelled, Clariden Global International Limited will refund the full amount and disclaim any further liability. ENQUIRIES: If you have any queries about registration or payment please do not hesitate to contact our client services department on PRIVATE DISCLOSURE STATEMENT: Any information provided by you in relation to this event is being collected by Clariden Global International Limited and will be held in the strictest confidence. It will be added to our database for the primary purpose of providing you with information about future events and services. Visit us at for upcoming events FOR OFFICIAL USE FEE RECEIVED REFERENCE L6039_L6040/EC/SL