The Cost Estimation for the Resources Industry Associate Certificate is tailored to professionals in the resources sector, providing essential tools and techniques for estimating capital, operating, and business costs throughout various project stages—from scoping studies to feasibility studies. Drawing on the AusIMM Cost Estimation Handbook and industry case studies, this course offers practical insights for achieving greater accuracy in cost estimations. Delivered by experienced industry leaders, participants will gain hands-on expertise in cost estimation practices relevant to the resources industry.

Module 1 | Overview of Cost Estimation

• Describe the contexts in which cost estimation is undertaken and why it may be different in the minerals industry
• Describe estimation techniques and how to deal with uncertainty
• Explain the terminology used in estimation and progress of studies in relation to reliability of estimates
• Explain some causes of errors and the relationship between estimators and other stakeholders

Module 2 | Capital Cost Estimation

• Describe the process of estimating capital costs
• Outline the objectives of different types of capital cost estimates
• Explain the structures of capital cost estimates – WBS, codes and cost types
• Discuss accuracy and contingency

Module 3 | Operating Cost Estimation

• Outline the purpose and use of operational cost estimates
• Describe the different drivers of operational cost estimates
• Describe the methods used to determine operating costs
• Explain estimation skills and peer review

Module 4 | Estimation Techniques, Challenges and Case Studies

• Describe one or more worked examples which illustrate the key concepts of cost estimation in the context of a 'real life' project
• Discuss the lessons learnt in one or more case studies that illustrate the context for cost estimation

This course is suitable for:

• Project and study managers - Build credible cost estimates for mining projects.
• Financial analysts and decision makers - Understand cost estimation methodology, limitations and risks.
• Operational engineers and technologists - Estimate costs for budgeting, studies and equipment selection.

• A good working knowledge of English.
• AusIMM courses are generally suitable for people who have completed their tertiary education and have been in the workforce for at least two years.
• No other pre-requisites are required.