The objective of this course is to provide an introduction to Cost Engineering principles, procedures and practice in industry that will contribute to the development of affordable products and systems.

At a glance

  • Duration6 Weeks
  • LocationCranfield campus
  • Cost£1500

Course structure

This is an online course with case studies and mentoring bespoke to your business for individual study to develop problem-solving skills and to embed the learning. There is online tuition and mentoring from industry experts and facilitation from Cranfield as well as bespoke assignments for each module. Through assignments Cranfield will award credits on successful completion. Six weeks duration. In weeks one to five you will typically spend three hours in online study and up to four hours on assignments and mentoring sessions. In week six your time is dedicated to your final project and review with your mentor.

What you will learn

  • Understanding of economic product, system development, and cost as a business driver.
  • Awareness of managing cost drivers such as those associated with non-recurring cost, and unit production.
  • Coverage of principles, modelling techniques, whole life costing, cost of hardware development and manufacture, cost of software development, and cost of through life support.
  • Ability for critical evaluation of cost and value management, knowledge management for cost engineering, affordability engineering, and risk analysis.

Core content

Module – 1  Cost as a Business Driver

Module – 2  Understanding Cost Drivers

Module – 3  Target Costing

Module – 4  Costs of Supply

Module – 5  Whole Life Cost

Module – 6  Project work: cost estimating and reduction

Who should attend

This course is suited to delegates from diverse backgrounds in engineering, commercial, procurement, project controls or finance functions at all levels of experience from graduate onwards.

How to apply

Read our Professional development (CPD) booking conditions.