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.

Looking for something more advanced?

Project Management Professional (PMP)®

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