• 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
  • 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

5 days

Target Audience:

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


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