Online Learning - Principles of Cost Engineering

Short course/CPD

Online Learning - Principles of Cost Engineering

Course date: 18 Apr 2012

Course overview

The Principles of Cost Engineering course is an innovative online course. It is aimed at those working with engineers, including technicians, graduate engineers and non-engineering professionals across the defence, aerospace, naval and land sectors.

Learning Outcomes

Cost is everybody’s responsibility. Cost awareness is essential for a broad range of personnel in the company, its partners and its supply chain. The delegate will have an understanding & knowledge of cost & the collective responsibility for cost, be able to describe each stakeholder’s influence and understand impact of design, systems engineering & whole life cost. A culture of awareness in cost and the “big picture” is a facilitator of overall cost reduction.

Course Start Date

Course is scheduled twice a year in April and September (minimum number of delegates apply).
Duration - over 12 weeks (average time spent 5 hours per week)

Location

Delivered wholly online. Accessible worldwide (subject to internet availability)

How to register

To request a place on this course, please complete the online Registration Form.

If you have any queries please contact:

Academic Operations Unit.

Cranfield University
Cranfield
Bedfordshire
MK43 0AL, UK

T: +44 (0) 1234 754176
E: shortcourse@cranfield.ac.uk
F: +44 (0) 1234 751206

Please be aware that short courses/CPD are subject to:

Booking Conditions

Course description

The course comprises six sections and a number of study units delivered as an audio-visual presentation, discussion questions and six assessed assignments. These provide the ‘tools’ required for the group project. The Group project involves working together in teams on a realistic project to fulfil demanding objectives within a tight time schedule and delivering results to a high professional standard.

Key Learning Points

Section 1 - Cost as a Business driver
• To have understanding and knowledge of cost and the
• collective responsibility for it.
• To understand cost in the business context and be
• able to describe each stakeholder’s influence on cost.
• To be aware of tools, techniques and methods in the
• context of cost.
• Understand the impact of design, systems engineering and the while life cycle cost.
• Understand the cost impact of making decisions.

Section 2 - Understanding Cost
• To build a detailed cost estimate step-by-step.
• Understand the differences between Non-Recurring Cost and Unit Production Cost and identify their cost drivers.
• Undertake parametric cost estimates and describe their differences with a detailed cost estimate.
• To learn about commercial tools.

Section 3 - Target Costing
• Understand target costing principles.
• Look at Target costing and understand the challenges using a worked example.
• Understand and use cost reduction techniques.

Section 4 - Costs of Supply
Understand the cost of logistics.

Section 5 - Whole Life Cost & Systems Engineering
• Understand the systems engineering perspective to Life Cycle Cost, and whole life cost prediction.
• Understand the cost of Commercial Off-The-Shelf (COTS).