Cost is everybody’s responsibility. Cost awareness is essential for a wide range of personnel in an organisation, its partners and supply chain.

You will develop an understanding and knowledge of cost and the collective responsibility for cost, the ability to describe each stakeholder’s influence and an understanding of the impact of design, systems engineering and whole life cost. A greater understanding of cost engineering is a valuable asset for both the development and financial management of new projects and business overall. Successful completion is certificated by Cranfield University and can be used as a contribution towards 'further learning requirements' for Professional Registration such as IEng and CEng. 


The start date of this course varies around the year, please address your enquiries to for the next start date.

At a glance

Course structure

The course is delivered through Blackboard, an online learning system, in the form of narrated power-point presentation including video and other reference material. The narration is available in written form for those without audio access. The tutor assigned to this course regulates the flow of the work to ensure the cohort of delegates learn together and complete assignments in a timely fashion. 在线视频,中文文字,在线辅导。

What you will learn

The course aims to promote cost awareness,improve competitiveness and enable a positive influence on cost. You will gain an understanding of cost in the context of the whole business, knowledge of the tools, techniques and methods to effectively manage and estimate cost, and an understanding of the cost impact of decisions.



  • 成本估算和控制的关键因素;
  • 理解成本对工程决策的影响;
  • 成本分析过程详解;
  • 目标成本和成本节约法;
  • 全寿命周期成本的管理。


Key features:

  • Successful completion is certificated by Cranfield University and can be used towards registration with a Professional Engineering Institution such as IMechE, ACostE, IET and RAeS.
  • Delivery is purely online which means that no travel or subsistence costs are incurred.
  • Organisations can train their cost engineers on-site without losing valuable time away from work.
  • The course is interactive with a tutor available throughout the learning experience.
  • There is a significant level of networking and interaction with other delegates through the examined discussion board and the group project module.
  • Practical knowledge is gained and exchanged through several case studies and the group project.
  • The course lasts approximately 12-17 weeks at 5 hours per week, therefore minimal disruption to work and family commitments.
  • The course is evaluated by assessing assignments at the end of each section, the group project and through contributions to the on-line discussion board.


  • 成功完成该课程将获得Cranfield University颁发的证书,该证书有助于加入专业协会:例如英国的机械工程师协会和成本工程师协会;
  • 学习过程中有教师提供英文或中文的在线辅导;
  • 通过案例和团队项目获得实践经验。










Core content

Cost as a Business Driver

  • Describing cost in the business context
  • Understanding the difference between NRE and UPC cost
  • Understanding cost impact of engineering decisions.

Understanding Cost

  • Building a detailed cost estimate step-by-step
  • Identifying NRE and UPC cost drivers
  • Undertaking parametric cost estimates, describing differences with a detailed cost estimate
  • Using commercial cost estimating tools.

Target Costing and Cost Reduction

  • Understanding Target Costing and Cost Reduction
  • Understanding challenges in Target Costing including worked examples
  • Understanding and use of cost reduction techniques.

Costs of Supply

  • Understanding the costs of logistics.

Whole Life Cost and Systems Engineering

  • Understanding the systems engineering perspective to Life Cycle Cost
  • Understanding whole life cost prediction
  • Understanding the cost of Commercial Off The Shelf (COTS).

Risk and Uncertainty

  • Defining risk and uncertainty
  • Types of risk and uncertainty
  • Managing risk and uncertainty
  • Modelling the impact of risk and uncertainty on cost.

Obsolescence Cost

  • Introduction to Obsolescence and why it is important
  • Factors that affect obsolescence resolution cost
  • Describe different steps involved in the cost estimation process.

Future research directions


A typical timetable for this course is available to give you an idea of how this course is structured. Please note that this is not the actual timetable for the upcoming course and is subject to change.

Download timetable

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Who should attend

This course is suitable for professionals in manufacturing and service industry sectors including aerospace, defence, automotive and energy, who work with, or are responsible for, engineers who need to know about cost engineering. Due to the course being online, it is best suited to those interested in distance learning.




BAE Systems


Speakers include:

  • Professor Rajkumar Roy
  • Dr Yuchun Xu
  • John Erkoyuncu
  • Richard Blockley


Group discounts are available.

Accommodation options and prices

How to apply

To apply for this course please use the online application form.

Read our Professional development (CPD) booking conditions.