Project Scheduling, Budgeting

Introduction:

Managers and customers expect to get value for money. A significant number of projects have been cancelled or are seen as a failure because they ran too far over budget. This five-day Project Management training seminar on Project Scheduling, Budgeting & Cost Management will present the participants with straightforward approaches to developing a cost baseline and setting up a cost tracking system so that the budget is well managed during the project’s life cycle.

This training on Project Scheduling, Budgeting & Cost Management will provide participants with a proven set of methods, processes, tools, and techniques to develop a systematic and dynamic project plan to ensure progressive monitoring control and reporting of project cost.

Course Objectives:

By the end of this training course, participants will be able to:

• Understand the benefits of good project cost control for successful project outcomes
• Use best practice to minimise costs and negative impacts
• Describe a typical project cost management life cycle
• Explain the action required at each phase of the project cost management life cycle and understand the significance of each phase
• List the key attributes of cost necessary to understand and manage cost effectively
• Explain the key steps required to improve project estimates, budget and cost baselining, performance measurement and analysis, cost monitoring and control during project execution and interpreting and reporting project performance throughout a technical project life cycle
• Specify key quantitative measures for determining the project performance using Earned Value Management (EVM)
• Provide meaningful project progress reports using EVM together with forecasts of likely outcomes and management options to correct where necessary
• Apply this cost management process to a simple case study