PM20C – Project Cost Management

Duration : 2 days Technical : 6 Leadership : 4 Strategic : 4 PDU: 14
Course Overview

This course is designed to give delegates a comprehensive understanding of Project Budgeting and Project Cost Management. The program includes project financial selection criteria, cost estimating, budgeting and managing the cost of a project. The program focuses on concepts such as Earned Value Management to measure the progress of a project.

 

Course Outline
  • Cost Management a Constraint of a project
  • Project Selection Methods using Cost/ Benefit analysis
    • The various tools like NPV, IRR, payback period, etc
  • What are costs and the types of cost?
    • Direct & Indirect Cost
    • Fixed & Variable Cost
    • What is Depreciation
    • CAPEX & OPEX
  • Project Cost Estimation
    • Selecting Estimating methods
    • Methods: Top-Down, Bottom-Up, Parametric, Industry Guidelines
    • Organisational Policies
  • Project Budgeting
  • Risks & Contingencies
  • Monitoring & Controlling
    • Setting up and Managing Cash-flows
    • Using convention methods to monitor
    • Using Earned Value Analysis to manage project
      • Performance Indicators
      • Forecasting cost at selected junctures
  • Measure the ROI of the Project¬†
Learning Outcomes
  • Understand general cost & financial management concepts in project management
  • Identify How projects are selected using financial models
  • Monitor the budget throughout the project lifecycle using Earned Value Analysis
  • Identify potential financial risks and implement contingencies
  • Forecast project cost performance
Target Audience

This course is tailored especially for those who are involved in the cost aspects of a project such as Project Managers, PMO Managers and Project Cost Executives.