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Effective Project Cost Management

Download the course description and logistics sheet here.

2 day, 14 PDU course

COURSE DESCRIPTION

  • Every project manager is concerned with cost because every organization measures cost as a sign of success.  Knowing how to evaluate projects to determine which projects are most feasible is key to the success of your organization.  Good projects start with good estimates and this course will teach how various methods to create good estimates
  • This course:
    • Focuses on one of the nine knowledge areas of project management, Project Cost Management
    • Is designed to give you a working knowledge of cost management for projects. You will be able to use these concepts the very next day on your projects thus giving you the edge over your competition
    • Is designed to provide participants with the cost management principles, techniques, tools and skills for next day applications useful in your organization and a wide range of businesses – healthcare, government, service, engineering, manufacturing, education, etc
    • Follows the best practices for Project Procurement Management as outlined in the Project Management Institute’s A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) Fifth Edition .
    • Is interactive, including small group exercises, large group discussions, and instructor explanations.

LEARNING OBJECTIVES

  • After completing this course, you’ll be able to:
    • Understand the fundamentals of cost management and the two basic financial reports used on projects
    • Be able to perform basic Cost – Benefit analysis using Payback Periods, Net Present Value and Internal Rate of Return
    • Learn the four techniques for cost estimating
      • Analogous
      • Parametric
      • Bottom-up
      • Three Point
    • Learn how to convert a cost estimate into a budget
    • Learn earned value techniques to control costs

WHO SHOULD ATTEND

  • Project Managers / Team Leaders
  • Team Leaders moving into team leadership positions
  • Key Team Members
  • Functional Managers
  • Process and Performance Improvement Team Members
  • Business Planning Personnel

COURSE LENGTH

  • 2 day, 14 PDU course
  • Upon successful completion, you will receive an Integrated Process Developers, Inc (IPDI) certificate of completion.

COURSE SIZE

  • Up to 20 people in your company

COURSE COST

  • To schedule a workshop for your company, contact us for a proposal to bring this course to your organization.

LOCATION

  • Training courses can be held at your company’s location or training center.

PRE-REQUISITES

  • An open mind and a willingness to learn new techniques to manage projects.
  • It is preferred, but not required, that the participants have completed any of the following workshops:
    • Fundamentals of Project Management Workshop
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