Project Cost Management

 

DURATION:  1 DAY (6 PDU / contact hours)

Project Cost Management course provides a broad overview of the differing perspectives of cost within a project and an organization and highlights financial techniques and factors influencing cost data and control methods. Performance, cost and time constraints needed to adequately control a project are also considered.

 

MAJOR COURSE OBJECTIVES


The course is designed to enable participants to:

  • Analyze variances within a project and evaluate outcomes or expected outcomes regarding performance, cost and time constraints
  • Understand the monitoring process, and learn key elements and explain different types of control
  • Learn fundamental and specific objectives of cost control and factors needed to achieve project cost control
  • Define BCWP, BCWS, ACWP, earned value, S curves and variance
  • Calculate unit variances, BCWP, BCWS, cost and schedule variances, variance percentages and cost and schedule performance indices
  • Identify whether variances are positive or negative, possible reasons for variances and effects on project outcome
  • Discuss the Executive’s challenges in the 21st century
  • Gain a comprehensive understanding of project management processes

 

RECOMMENDED FORMAT

A minimum of 12 and a maximum of 25 participants is recommended for this course. Each attendee receives a participant guide, which includes visuals and other materials used in the course. This course provides highly interactive, experiential learning and emphasizes understanding financial decisions made regarding project cost control.

 

TARGET AUDIENCE

Managers and project managers who need the tools and skills to identify and manage project costs.

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