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Project Cost Management

DURATION: 16 hours (2 days)

Course Description 

Cost over-runs are the number one killer of most projects.  With tighter budgets, program and project managers need a more aggressive focus on meeting financially on-target delivery of projects. 

 

Our 2-day interactive instructor-led workshop on Project Cost Management will equip project managers with proven methods and skills to help them complete their projects on time and on budget.  This will introduce students to the basic concepts of project cost management principles, policies, and responsibilities based on PMBOK 6th edition. It will also provide them with clear processes for managing costs: plan cost management, estimate costs, determine the budget, and control costs. Lecture and discussion are reinforced with a team and individual exercises.

Pre-requisites

Should at least have a basic Project Management concepts.

Who Should Attend

Program managers, team leaders, and other personnel responsible for the governance of projects, who need better control over their project budget or project managers who have not received formal training on project cost management. 

Course Features 

  • Workshop based

  • Instructor-led discussion

  • Use of actual contract to apply the principles learned.

Course Objectives 

Upon completion of this program, participants will:

  • ​Learn to apply proven methods for preparing estimates, determining budgets and use Earned Value Analysis (EVA) to ensure that the forecasted benefits and Return On Investment (ROI) are achieved.

  • Learn about the mission-critical processes required to complete projects within an approved budget.

  • Turn theory into practice with our interactive and intensive training, providing our students with practical examples, hypothetical scenarios, and group exercises. 

Course Coverage

  • Project Cost Management Based on PMBOK

  • Definition of ROI, Net Present Value and Payback         

  • Cost Management Plan

  • Cost Estimation

  • Determine Budget

  • Cost Control

  • Earned Value Management 

  • Project Closure