Effective Project Cost Management
The purpose of project cost management is the completion of the project within budget constraints. While cost of resources is the main focus, a broader, life-cycle costing view is examined. Care should also be given to the manner in which different stakeholders measure project costs.
This workshop details a four-step process for managing costs:
- Resource Planning
- Cost Estimating
- Cost Budgeting
- Cost Control
Participants learn practical techniques for each of these steps. Throughout the course the role of the Project Manager in the cost management process is examined. Participants will work with different projects to apply tools and techniques for gathering and communicating information specific to each step.
Participants will learn:
- Financial terminology, cost management and accounting definitions
- General accounting concepts such as Future and Present Value, Depreciation and financial statements
- A process for identifying appropriate resources requirements and estimating the associated costs
- How contingency fits into cost management
- To prepare a project budget
- Cost control techniques (Earned Value Analysis)
- Templates to assist in communications
Dates, Fees & Location
For more details regarding this program please refer to our Training Course Calendar.
Registration closes at 4:30 pm four business days prior to each course delivery date.
A copy of A Guide to the Project Management Body of Knowledge (PMBoK), 4th Edition is required for this course. Copies are available for order from LPI, and can also be purchased at most Chapters/Indigo locations.
