Introduction

This comprehensive training program is specifically designed by Global Horizon Training Center to prepare professionals for the Certified Estimating Professional (CEP®) examination administered by AACE® International. The program focuses on the key domains of knowledge required for the exam and offers structured guidance, real-life examples, practice exercises, and exam strategies.

Participants will receive a Certificate of Attendance upon successful completion of the training. Please note: This course does not result in AACE® certification; certification is awarded only after passing the official CEP® exam administered by AACE® International.

Objectives

Upon completing this course, participants will be able to:

• Understand and apply the full scope of the AACE® CEP® exam framework.

• Demonstrate proficiency in cost estimating principles and techniques.

• Identify and analyze components of cost, pricing, risk, and contingency.

• Use probabilistic and deterministic estimation methods.

• Prepare confidently for all sections of the CEP® exam using mock questions and case studies.

Course Methodology

• Instructor-led training with AACE®-aligned content

• Structured presentations, guided discussions, and knowledge checks

• Case studies and practical estimating examples

• Practice exams and exam simulation sessions

• Study plan guidance and test-taking strategies

Organizational Impact

• Development of internal estimating capabilities aligned with global standards

• Reduction of project cost overruns through accurate estimates

• Enhanced project planning and forecasting abilities

• Increased recognition through certified professionals

• Strengthened compliance with industry best practices

Target Audience

This program is intended for:

• Estimators and Cost Engineers preparing for the AACE® CEP® certification

• Project Controls Specialists

• Quantity Surveyors

• Project Managers involved in estimating

• Engineers and professionals seeking formal recognition in estimating practices

Course Outline

Day 1: CEP® Certification Overview and Estimating Fundamentals

• Introduction to AACE® and the CEP® certification process

• Body of Knowledge domains and exam blueprint

• Classification of estimates (Class 5 to Class 1)

• Roles and responsibilities of estimators

• Ethics and professional conduct in estimating

Day 2: Scope Development, Quantity Take-off, and Cost Elements

• Project scope and Work Breakdown Structures (WBS)

• Quantity take-off principles and documentation

• Elements of direct and indirect costs

• Equipment, labor, material, and subcontractor estimates

• Escalation, overhead, and profit margins

Day 3: Estimating Methods and Risk Considerations

• Estimating techniques (analogous, parametric, bottom-up, etc.)

• Pricing and costing strategies

• Contingency determination and risk assessment

• Life cycle costing and economic analysis

• Sensitivity analysis and Monte Carlo simulation basics

Day 4: Estimate Validation, Documentation, and Communication

• Estimate review and validation techniques

• Benchmarking and historical data usage

• Estimate documentation and reporting

• Basis of Estimate (BOE) and its components

• Stakeholder communication and approvals

Day 5: Exam Strategy and Practice Session

• Exam format, structure, and time management tips

• Sample questions and answers

• Full-length mock exam with discussion

• Common pitfalls and how to avoid them

• Final Q&A and personalized study plan recommendations