This course provides a theoretical framework to define the scope of work, schedule and cost, the student is exposed to the different methods used to identify and measure the cost elements as the first step to build a cost estimate. After the basics of cost estimation are understood, the student learns how to control costs of ongoing projects. Finally, this knowledge is applied in a course project in which the student has the opportunity to prepare a cost estimate, and identify control mechanisms using the concepts learned in class and critique the estimates prepared by other students.