Project Cost Management

Project cost is one of the key measures of project success. The other of two are time and scope.

Project Cost Management About Course

Course Overview

Project cost is one of the key measures of project success. The other two are time and scope. Together they form the so-called Iron Triangle of project success. Cost is one of the major project constraints and cost performance is one of the key project metrics that executives monitor.

Learn to master cost estimating, cost budgeting, contingency, and management reserve, cost baseline, change management, cost forecasting and control as well as performance management.

Learning Outcome

Upon completion of this course, participants will be able to:

Understand and apply project management principles to cost management
Understand and apply risk management principles to cost management
Understand and implement performance management
Develop a project cost estimate
Develop a time-phased budget
Develop a project cost baseline
Develop a cost curve
Carry out variance analysis

Course Contents

Project management principles
Principles of risk management
Develop Work Breakdown Structure (WBS)
Project definition and estimating risk and accuracy
Project definition and estimating methods
Estimate Classes and corresponding contingency
Cost Estimating Techniques
Cost Budgeting
Change Management
Cost Control
Performance Management and Cost Curves
Earned Value Management
Cost Reporting

Duration

5 days

Target Audience:

Project Managers, Finance Personnel, Project Team Leaders, Project Planning Engineers, Senior Project Control, Project Engineers, Discipline Engineers involved in projects

Registration

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