Cost Estimating, Cost Control and Risk Mitigation for Power Generation

Today, utilities face three key challenges in power generation:

1. Growing energy demand from data centers and electric vehicles (EVs), which is straining an aging grid infrastructure.
2. The transition from fossil fuels to renewables, alongside the push for distributed generation.
3. An uncertain and evolving regulatory environment.

With this increased demand for power, new generation facilities must be brought online faster than ever before. Utilities are required to exercise robust due diligence to determine what kinds of facilities should be designed and constructed to mitigate risk and keep projects within scope. They have to answer questions such as:

• Which fuel sources should we consider?
• How can we develop a strong cost estimate?
• How do we manage costs and accurately determine our project’s status?

The Cost Estimating, Cost Control, and Risk Mitigation for Power Generation course equips you with essential tools to estimate, track, and manage project costs effectively. Learn through real-world examples and gain practical skills to ensure projects stay on budget and meet regulatory requirements. Accelerate your project success and strengthen accountability in your organization.

• Recognize the role of project management in budget control
• Obtain a high comfort level in developing a budget and applying earned value techniques
• Recognize the importance of Net Present Value (NPV)
• Apply a successful approach in managing scope (and by extension, the budget and schedule)
• Recognize the value of a contingency budget, capital vs. operating expenses, and sunk costs
• Identify how to develop a project budget from the WBS (Work Breakdown Structure)
• Apply earned value techniques to determine project status
• Apply these same techniques to new and retrofit generation projects
• Review how the regulatory environment impacts costs and decision making for power generation planning
• Apply risk management techniques to anticipate problems and in developing a contingency budget