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Contribute in the identification and promotion of cost or time savings through Project Control, Estimating, Planning & Cost Engineering activities during the concept and definition phases

URN: ECIPC57
Business Sectors (Suites): Project Control, Estimating, Planning and Cost Engineering
Developed by: SDS
Approved on: 2010

Overview

This standard defines the competence required to work with others in supporting the identification and achievement of target costs for business deliverables through the application of cost minimisation or optimisation during the design and development phase of the life cycle. 
 
It is expected that practitioners would work with colleagues and peers to implement a culture of target costing, value engineering or associated practices. 

Performance criteria

You must be able to:

​You must be able to:

P1 Allocate target costs and investigate the anticipated quantities required for a range of business deliverables 

P2 Understand and interpret the design requirements or design intent of the business / project deliverables 

P3 Identify the key functional elements of the design requirements 

P4 Support the identification of the key cost drivers associated with achieving the functional parameters 

P5 Maintain cost models and/or Cost Response Curves 

P6 Review concept and definition options, cost-performance trade-offs, and identify cost avoidance or cost reduction objectives

Knowledge and Understanding

You need to know and understand:

​You must be able to:

K1 Principles of Target Costing or Scheduling 

K2 Principles of Value Analysis and Value Engineering 

K3 Principles of Process Improvement (e.g. Lean Manufacture) 

K4 Engineering Design Principles and Practice 

K5 Appreciation of associated Technologies, Processes and Facilities (e.g. Manufacturing, Construction or Information Technologies) 

K6 Brainstorming techniques 

K7 Cost Modelling techniques

Scope/range

Scope Performance

1. Key Stakeholder Interfaces (may include) 
 
1.1. Multiple Engineering/Functional disciplines
1.2. Commercial and Finance
1.3. Purchasing 
1.4. Customers 
1.5. Suppliers 
1.6. Partners 
1.7. Health Safety & Environment 
1.8. IT Specialists 
 
2. Cost Type (2 from 7) 
 
2.1. Acquisition Design and Development Cost/Schedule 
2.2. Acquisition Manufacture Cost/Schedule 
2.3. Operational / Maintenance and Support Cost/Schedule 
2.4. Disposal Cost/Schedule
2.5. Life Cycle, Through-Life or Whole Life Cost/Schedule 
2.6. Cost/Schedule of Construction / Installation 
2.7. Commissioning Cost/Schedule

Scope Knowledge

Values

Behaviours

Skills

Glossary

Links To Other NOS

External Links

Version Number

1

Indicative Review Date

2013

Validity

Current

Status

Original

Originating Organisation

Engineering Construction Industry Training Board

Original URN

NPCEPCE57

Relevant Occupations

Engineer, Engineering and Manufacturing Technologies, Managers and Senior Officials, Production Managers

SOC Code

Keywords

concept and definition phases, cost optimisation, value engineering, target costing