Estimating and Cost Engineering Training

Project Cost Uncertainty: Contingency, Escalation and Reserves

At the time of project authorization decisions, cost uncertainty is generally expressed in funds allocated as contingency, escalation, and reserves. This course will clearly contrast these three types of cost allocations for uncertainty, and provide practical methods for determining their value to support the investment decision-making process. The objective of the course is for each participant in the capital project process to develop an understanding of the related project cost uncertainties of estimate contingency, escalation, and reserves.

This course will be beneficial to all project team members involved both with both estimating and controlling the costs associated with uncertainty, which includes cost accounts dealing with contingency, escalation and reserves. This includes project management, project controls, cost engineering, estimating, scheduling, etc.

This course is typically provided as a 2-day course; however, the course can be extended to additional days for more in-depth coverage of selected topics.

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