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