Managing
the Project s Budget
Cost
estimating and forecasting, cost budgeting, cost control, cost applications and
earned value analysis
Course
Details
One-Day
Seminar
Program Number: PMGNOL
PDUs: 6
Course
Objectives:
Participants
will learn the project manager s role in management budget.
Learn
to:
-
Cost estimating and forecasting
-
Cost budgeting
-
Cost control
-
Cost applications
-
Earned value analysis
1.0
Introduction
- Seminar member
introduction and overview of course material
2.0
Overview of Cost Management
- Defining cost
management
- Project life
cycles and where cost management is appropriate
- Life-cycle
costing for a project
3.0
Cost Estimating & Forecasting
Use of:
- Economic
analysis
- Profitability
analysis
- Analysis project
investment costs
- Forecasting
techniques
- Statistics
analysis
Group exercise on
using forecasting techniques
4.0
Cost Budgeting
Performing
cost budgeting using:
- Work breakdown
structure(WBS)
- Managerial
reserve
- Performance
measurement baseline
- Evaluate funding
5.0
Cost Controls
Examine
cost control using:
- Contingency
management
- Monitoring
actual vs. budget
- Variance
analysis
- Earned value
analysis(EVA)
- Integrated
cost/schedule
- Progress
analysis/reporting
Group exercise on
earned value analysis
6.0
Cost Applications
Examine
costing applications using:
- Historical data
banks
- Responsibility
charting
- Life-cycle
costing
- Value analysis
7.0
Closeout the Project Budget
- Closeout the
project budget and compare to the baseline budget
Group exercise on
closeout of the budget