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Project Cost Management

Course Type: Non - Certification

Duration: 2 Days

Professional Development Unit (PDU): 14
Availability: In-House Training | Public Training

Course Overview

This course is designed to give delegates a comprehensive understanding of Project Budgeting and Project Cost Management.
This training program includes project financial selection criteria, cost estimating, budgeting and managing the cost on a project as well as 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 the costs and types of costs? 

    • 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 

    • Organizational 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 Outcome

  • 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.

Enquiry Form
We'd love to answer your queries. Please fill out the form with any questions that you have.

Looking for something more advanced?

Project Management Professional (PMP)®

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