Cost Estimation for the Resources Industry
Gain tools, techniques and tips to create accurate cost estimations for the resources industry.
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19 July 2021
Up to 12
The Cost Estimation short course is designed to provide resources industry professionals with foundational tools and techniques to perform capital, operating and business cost estimations specific to the resources sector from scoping to feasibility studies.
Delivered by experienced industry leaders, this course draws from the AusIMM Cost Estimation Handbook and many case studies to provide practical tips for edging closer to accurate cost estimation.
- Explain the purpose, characteristics and terminology of cost estimates in expenditure decisions and project studies
- Describe methods for estimating capital, operating and business costs
- Define accuracy, contingency, owner’s costs and timing
- Demonstrate general estimation techniques, shortcuts and checks
- Explain the use of benchmarking to validate cost estimates
- Describe estimating costs for emerging technologies
- Discuss cost estimation case studies
The four-week course is a collaborative, hands-on online learning experience, taking learners approximately 12 hours to complete. Please note the live sessions are not mandatory, the webinar will be recorded and available on the same day for participants who are unable to attend the live event. Course content includes:
- Weekly live webinar
- Additional resources and readings (case studies, videos, articles)
- Selective examples of tools used
- Group discussion forums
- Learning activities in the form of short test questions
Webinar | Thursday 22 July
11.30 - 13.00 AEST
Webinar | Thursday 29 July
11.30 - 13.00 AEST
Webinar | Thursday 5 Aug
11.30 - 13.00 AEST
Webinar | Thursday 12 Aug
11.30 - 13.00 AEST
Who should attend?
Project and study managers
Build credible cost estimates for mining projects.
Financial analysts and decision makers
Understand cost estimation methodology, limitations and risks.
Operational engineers and technologists
Estimate costs for budgeting, studies and equipment selection.
Enrolments now open
Course commences 19 July
Neil’s Project Management career has spanned almost four decades working as a Project Manager – Director on resource projects in most continents. Major projects have included Gordonstone Coal, Minera Alumbrera, Queensland Magnesium, Mt Isa Copper Smelter, sale of the Gladstone Power Station, Emu Downs Wind Farm, Anaconda Murrin- Murrin and the OPR – Crosslands Iron Ore project.
He has undertaken a variety of specialist advisory and Independent Peer Review assignments since 1988. These have included a wide range of Independent Peer Reviews and Expert Witness assignment for Reko Diq and Pascal Lama projects.
Neil’s speciality has including development and providing ‘best practice’ systems, procedures and reviews for multinational corporations including BHP Billiton, Barrick Gold, Antofagasta Minerals, Stanwell Energy, Cliff’s, MIM and Codelco. His focus since 1982 has been on defining the capital cost estimating standards in the mining sector.
Daniel’s passion is the ‘strategy and risk optimization’ of mining businesses – from geology-to-dollars. His strength is being able to mentor, manage, and do every part of these studies from ideation to communication across all technical disciplines. This includes identifying and solving complex integrated technical issues and communicating understandable solutions for implementation. In particular, he is uniquely qualified to optimize assets involving underground operations. This is a result of being mentored by Brian Hall for six years in the Hill-of-Value technique. Daniel also conceptualised and authored MCost™, AMC’s first-principles cost and productivity estimation software for underground mining.
Peter has held Mine Manager’s Certificates in Victoria and New South Wales and has degrees in Mining Engineering and Mineral Economics. He is a Life Member and board member of the Sovereign Hill Museums Association, an Honorary Fellow of The Australasian Institute of Mining and Metallurgy, a Chartered Professional Engineer, a member of the CSIRO Mineral Resources Advisory Council.
Peter has chaired several AusIMM committees and working groups, and has a special interest in mining heritage.
Frequently asked questions
What are the technical requirements to participate in the course? i.e. do I need a webcam, microphone, etc?
The course will be run entirely online via a cloud-based Learning Management System (LMS) which can be accessed via computer, tablet or phone. Participants will simply need to have a working Internet connection and a computer, tablet or phone with sound to access the course. They will not be required to download any software and will not require any hardware like a webcam or microphone.
How long will the course take?
The entire course will run over four weeks. It is expected that participants will take about 12 hours to finish the entire course. This includes attendance at live webinars and completion of all learning activities.
Must a participant complete and pass all modules in order to finish the course?
Yes, it is a requirement for participants to complete all modules and pass all learning activities to receive a certificate of completion.
How often will the courses be run?
We aim to run two intakes each year.
Can a participant sign up for only one or two modules?
Unfortunately no, the course must be completed in its entirety.
Will the course be delivered in other languages?
At the moment, no, but we will be looking at delivering the course in other languages in the near future.
How many PD hours do I receive for undertaking the course?
Participants can earn professional development (PD) hours for undertaking the course. One contact hour of technical content is equivalent to one PD hour.