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Future of Cost Engineering

Lecture

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What are the future challenges and opportunities facing the cost engineering for projects?

Date and Time

15 November 2017 - 19:00-21:00

Location

London, United Kingdom - icon_popup  (See map)

Organiser

Organised by the Project Control TPN. Contact Tania Pomroy at tpomroy@theiet.org for more information.


About this event

What are the future challenges and opportunities facing the cost engineering for projects? This prestige event will provide an opportunity to discuss the cost engineering challenges and opportunities faced by organisations, as well as share the latest best-practice and research happening in this field in the context of project controls.

This event will also outline progress made so far and provide insights into what can be expected in the field of cost engineering for years to come.

Programme

19:00 - 19:30 Refreshments
19:30 - 20:30 Prestige lecture
20:30 - 21:00 Interactive Q&A
21:00 Event close

Speakers:

 

Dr John Ahmet Erkoyuncu

This talk aims to present an overview of the emerging technological trends that are having/will have an impact on the discipline of Cost Engineering. Industrial equipment (e.g. planes, ships, trains) are often growing in complexity over longer life cycles, which is increasing the need to develop robust, agile and integrated cost modelling. The talk will cover three main technological areas to explore their (potential) impact on Cost Engineering: 1) digitisation with Industry 4.0 and Internet of Things, 2) big data analytics, and 3) machine learning. The talk will highlight how existing challenges around quantifying risk and uncertainty, customer affordability, organisational culture, standardised language and skill levels of cost engineers will evolve with the emerging technologies. The talk will also suggest how Cost Engineering needs to adapt in order to further enhance its influence on decision making and organisational strategy.

Oliver Schwabe  

Oliver Schwabe

Oliver Schwabe, Civil Aerospace IT Business Partner and Civil Aerospace IT Risk Coordinator at Rolls-Royce plc and a fifth year part-time PhD researcher at the Manufacturing Department, School of Aerospace, Transport and Manufacturing, of Cranfield University. His research interest focuses on forecasting the uncertainty of cost estimates for innovative high value manufacturing products using the shape of cost variance data.

Reasons to attend

• Form new professional relationships within your industry / local area

• Network with other professionals in your industry / local area

• Raise your profile within your profession

Cost

Free of charge



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