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:
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Understand and apply the full scope of the AACE® CEP® exam framework.
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Demonstrate proficiency in cost estimating principles and techniques.
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Identify and analyze components of cost, pricing, risk, and contingency.
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Use probabilistic and deterministic estimation methods.
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Prepare confidently for all sections of the CEP® exam using mock questions and case studies.
Course Methodology
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Instructor-led training with AACE®-aligned content
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Structured presentations, guided discussions, and knowledge checks
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Case studies and practical estimating examples
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Practice exams and exam simulation sessions
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Study plan guidance and test-taking strategies
Organizational Impact
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Development of internal estimating capabilities aligned with global standards
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Reduction of project cost overruns through accurate estimates
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Enhanced project planning and forecasting abilities
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Increased recognition through certified professionals
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Strengthened compliance with industry best practices
Target Audience
This program is intended for:
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Estimators and Cost Engineers preparing for the AACE® CEP® certification
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Project Controls Specialists
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Quantity Surveyors
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Project Managers involved in estimating
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Engineers and professionals seeking formal recognition in estimating practices
Course Outline
Day 1: CEP® Certification Overview and Estimating Fundamentals
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Introduction to AACE® and the CEP® certification process
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Body of Knowledge domains and exam blueprint
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Classification of estimates (Class 5 to Class 1)
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Roles and responsibilities of estimators
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Ethics and professional conduct in estimating
Day 2: Scope Development, Quantity Take-off, and Cost Elements
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Project scope and Work Breakdown Structures (WBS)
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Quantity take-off principles and documentation
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Elements of direct and indirect costs
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Equipment, labor, material, and subcontractor estimates
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Escalation, overhead, and profit margins
Day 3: Estimating Methods and Risk Considerations
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Estimating techniques (analogous, parametric, bottom-up, etc.)
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Pricing and costing strategies
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Contingency determination and risk assessment
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Life cycle costing and economic analysis
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Sensitivity analysis and Monte Carlo simulation basics
Day 4: Estimate Validation, Documentation, and Communication
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Estimate review and validation techniques
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Benchmarking and historical data usage
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Estimate documentation and reporting
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Basis of Estimate (BOE) and its components
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Stakeholder communication and approvals
Day 5: Exam Strategy and Practice Session
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Exam format, structure, and time management tips
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Sample questions and answers
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Full-length mock exam with discussion
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Common pitfalls and how to avoid them
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Final Q&A and personalized study plan recommendations
