Facility Management 5 - Basics of Cost Estimating

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Learn about cost estimating, a tool to help key personnel make informed decisions during preliminary budgetary planning.





This course introduces cost estimating. An accurate estimate is necessary for key personnel to make informed decisions during preliminary budgetary planning. Together, a thorough condition assessment and well-written scope of work are two crucial steps in the process of creating an accurate cost estimate. The three steps are reliant upon each other and each one has to be done correctly to avoid negative effects on the whole process.

PLEASE NOTE: While this course can be taken alone, we recommend it be taken as part of the more comprehensive a Facility Management Certificate course of study.

If you complete the Certificate course of study, you will receive:
  • Individualized feedback from Indiana University faculty on your assignments
  • A completion certificate from Indiana University
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Course Schedule

This course is self-paced, allowing learners the flexibility to complete the course as quickly or slowly as they need. While exploring course content, learners can investigate topics in greater detail through enrichment activities that link to real-world examples, original source materials, and policy documents. Learners can easily move from section to section as they navigate through the course, revisiting concepts as needed.

Elements of the course:

  • Informational text
  • Interactive practice activities
  • Learn More opportunities
  • Supplemental reference materials
  • Portfolio assignment (if taking as certificate program)
  • Final assessment

Following the course, you will complete an assessment which requires you to demonstrate your understanding of key course concepts. Upon successful completion of the assessment, you will be awarded an electronic certificate of completion.

Course Chapters

  • Definition and Purpose of Cost Estimating
  • Deficiency Remediation
  • Cost Estimating Process: The Details

Be able to:

  • Define a cost estimate.
  • Explain the purposes of a cost estimate.
  • Identify additional resources to complete a cost estimate.

Recommended Background

The course will be most beneficial for those new to parks and public lands management or for those who wish to advance their career in this field. To complete the portfolio pieces successfully, it is recommended that you have access to a parks or public lands facility.


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