Preparation to Certified Estimating Professional (CEP)

Description

This course help any one preparing to CEP examination, so that prospective certificates gain the knowledge essential to earn the Certified Estimating Professional (CEP) credential.

this Course does not provide detailed, fundamental education in cost estimating. Those seeking the CEP credential should already know the basics. One expects, however, that even seasoned professionals do not routinely apply all estimating knowledge and skills on a frequent basis. Recent study of seldom‐used knowledge and techniques in the months before sitting for the certification examination is prudent.

This Course enables efficient and effective preparation for the CEP examination.

It's important that we use and understand the same terminology when recapping a bid. Most of these definitions are financial terms. It's important that you are on the same page with your company's financial team when discussing these items.

here are some some of those terminology:

Overhead, overhead are the fixed costs that a business pays to administrate or run the business. They are not the costs affiliated with a particular job or project.

Profit, The amount of money the company expects to make above and beyond their overall costs. After all, that's one of the reasons we are in business, to make money.

Markup, the amount added to the cost price of goods to cover overhead and profit. So, markup is really overhead and profit combined. Cost versus price, this is pretty important.

Price: the amount of money a customer pays for that product or service.

**The difference between the price that is paid by the owner and the cost that is incurred, is the profit the business makes when the item is sold.

Good Luck

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