Cost engineering is a well-established area of research, training and development at Cranfield University.

It is recognised that improving cost engineering capabilities within industry contributes to the development of affordable products and services. There is growing demand at local, national and international levels to impart cost and affordability engineering knowledge to support organisations that seek high quality cost engineers.

At a glance

Course structure

32 hours in total, including 25 hours of interactive lectures and 4 hours group practice, and 3 hours of hands-on practice using industry standard cost estimation software. This course will be delivered on Cranfield University Campus

What you will learn

On successful completion of this module the student will be able to:

  • Have an appreciation of ‘cost as a business driver’
  • Have knowledge and understanding of cost engineering principles and procedures
  • Have an appreciation of cost estimation techniques
  • Have knowledge and understanding of lifecycle cost
  • Understand how to model cost estimates for assessing the impact of risk
  • Understand why and how risk analysis can assist the cost engineer
  • Have working knowledge on manual and industry standard software based cost estimating
  • Appreciate how cost engineering is practiced within industry.

Core content

  • Cost as a business driver
  • Quality of cost estimates
  • Parametric costing
  • Cost of systems
  • Predicting cost of obsolescence resolution
  • Risk analysis in cost engineering
  • Uncertainty based cost estimating
  • Cost Engineering in practice
  • Cost Engineering hands-on practice in Cost Studio®.

Upgrade to a professional qualification

Cranfield credits are available for this short course which you can put towards selected Cranfield degrees. Find out more about short course credit points.

Who should attend

This course is suitable for engineers, buyers and people with a commercial background eager to further their skills and knowledge in cost engineering, particularly in life cycle costing; or graduates currently working in industry keen to extend their qualifications; or individuals with other qualifications who possess considerable relevant experience.


20% discount for Cranfield Alumni. 
10% discount when registering 3 or more delegates, from the same organisation at the same time.  

Accommodation fees are not included in the discount scheme. Please ask about our discount scheme at time of booking.


This course is non-residential. If you would like to book accommodation on campus, please contact Mitchell Hall or Cranfield Management Development Centre directly. Further information about our on campus accommodation can be found here.  Alternatively you may wish to make your own arrangements at a nearby hotel. 

Location and travel

Cranfield University is situated in Bedfordshire close to the border with Buckinghamshire. The University is located almost midway between the towns of Bedford and Milton Keynes and is conveniently situated between junctions 13 and 14 of the M1.

London Luton, Stansted and Heathrow airports are 30, 90 and 90 minutes respectively by car, offering superb connections to and from just about anywhere in the world. 

For further location and travel details

Location address

Cranfield University
College Road
MK43 0AL

How to apply

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

Read our Professional development (CPD) booking conditions.