Projects Cost Management, Estimating, Budgeting and Control.

Learn how to estimate costs for any project, how to determine budget and how to use Earned Value Management tools. 3 PDU

Language: english

Note: 3.9/5 (1,004 notes) 70,324 students

Instructor(s): Saad Almeri

Last update: 2020-07-13

What you’ll learn

How to estimate costs for a project
How to determine project budget
How to control project costs
How to use Earned Value Management indicators

Requirements

No prerequisites

Description

This course consist of two parts. The fist part is a theoretical explanation based on the cost management chapter from PMBOK (the book that is used for PMP certificate) and the second part is a practical example about how to apply the theoretical part..

Both parts talk about three main topics:

How to estimate costs for activities in the project, which also include:
- Types of Costs
- Estimating costs tools and techniques.
- Handling Risk Reserves costs
- Cost of Quality
- Documenting the costs basis of estimates
How to determine project budget, which also include:
- Determine cost baseline
- Estimate funding requirements
- Determine project budget
How to Control Project Costs, through:
- Using Earned Value Management Techniques to assess project performance
- Calculating CPI, SPI, CV, SV
- Forecasting project costs y using Earned Value Management Tools

Who this course is for

Engineering and IT practitioners
Anyone interrested in project management

Course content

Introduction
- Introduction
Theoritical Part
- What is Cost Management?
- Direct and Indirect Costs
- Analogous Estimating
- Parametric Estimation
- Three-Point Estimating
- Reserve Analysis
- Cost Estimates and Basis of Estimates
- Cost Baseline
- Funding Requirements
- Earned Value Formulas
- Project Status
- Earned Value Example
- Forecasting Three Scenarios
- Forecasting Example
- To-Complete-Performance-Index TCPI
- Performance Reviews
- Recap
Project Simulation and Detailed Example
- Direct and Indirect Costs
- Cost Estimates and Reserve Analysis
- Cost Baseline and Project Budget
- Basis of Estimate
- Funding Requirements
- Earned Value Calculation
- Forecasting
- TCPI