AACE CEP Certified Estimating Professional study plan

Define each cost-estimating life-cycle phase and classify real project activities into the correct phase

Distinguish cost versus price and identify which estimating outputs feed each

Build a one-page glossary of 25 core estimating terms with your own examples

Explain the role of the estimator within project controls and how estimates feed scheduling and cost control

Compare bottom-up, analogous, parametric, and factor-based methods and state when each is appropriate

Apply a parametric cost-estimating relationship to a worked example and check its sensitivity to the driving variable

Practice unit-rate and quantity takeoff logic on a small scoped example

Diagnose common causes of estimate inaccuracy and map each to a mitigating method

Construct a work breakdown structure for a sample project down to a work-package level suitable for estimating

Build a bottom-up estimate from the WBS and reconcile it against an analogous top-down check

Identify and justify basis-of-estimate assumptions for each work package

Convert a labor-hour estimate into a fully burdened cost using stated rates and productivity factors

Distinguish cost analysis from price analysis and select the right technique for a given procurement scenario

Perform a should-cost buildup and compare it to a quoted price to isolate the variance drivers

Compute and interpret simple cost indices and unit-cost comparisons

Identify unbalanced, front-loaded, or otherwise problematic pricing structures in a bid comparison

Assemble a complete estimate package: basis of estimate, assumptions, exclusions, and supporting detail

Write basis-of-estimate narrative sections that a reviewer can audit without asking follow-up questions

Design a review checklist that catches scope omissions, unit errors, and missing escalation

Map estimate deliverables to the stage-gate or decision they support

Distinguish contingency, management reserve, and escalation and assign each to the correct owner

Apply a range-estimating or three-point technique to derive a contingency allowance for a sample estimate

Build an escalation calculation using stated indices and time-phasing assumptions

Run a qualitative risk register that ties identified risks to quantified cost impacts

Explain how estimate accuracy ranges narrow across project phases

Design a change-control process that keeps the estimate baseline current and traceable

Define estimate review and validation checkpoints and who signs off at each

Practice a peer review of an estimate and document findings against a standard checklist

Identify integration points between estimating, scheduling, and cost engineering and describe the data each needs from the others

Complete a timed full-length practice set and score each domain separately

Re-teach your two weakest domains from your own notes without referring to source material

Consolidate all deliverables into an indexed study binder for final review

Build a 30-minute pre-exam review sheet of formulas, definitions, and decision rules