Project Cost Management

Course Description

This course introduces practical approaches to developing and managing project budgets for both work and material resources. Relying purely upon reported progress can be dangerous when trying to manage and control projects, monitoring against budgets provides an additional and impartial perspective on progress providing managers with vital information as to the health of their projects.

• After completing this one-day course, the attendee will be able to:
• Appreciate the distinction between managing time and materials versus fixed price budgets.
• Use Microsoft Project data fields for developing and managing project costs.
• Create a project budgeting approach that utilises readily available information.
• Describe estimating techniques that provide practical risk contingencies in the budget.

Booking Details

To book this course contact us on 08707 303 400 or use the "Contact Us" form to register your interest.

Course Duration

1 Day – training can be delivered either at your place of work, our offices or a suitable 3rd party venue.
 

Course Objectives

This course is suitable for anyone wishing to exercise greater understanding and control of the financial aspects of     projects they are managing.

Pre-Requisites

A basic knowledge of Project Management techniques is useful but not essential. Familiarity with Microsoft Project & Excel is also useful but not mandatory.

Course content

• Defining fixed and variable project costs.
• Resource and Material Costs
• Identify budget variances using baseline versus actual techniques.
• Use Earned Value costing techniques for budget definition and management.
• Using the relationship between scope, schedule and resource to recommend recovery plans for budget and schedule variances.
• Communicate measurable, objective project status.
• Use links between Microsoft Excel and Microsoft Project to plan and track detailed budget items without overloading the project plan with detail.
• Develop ‘bottom-up’ estimates that provide for accurate budgets that can be easily summarized for management reporting.
• Develop job masters for project accounting systems that are consistent with project plan details.
• Define useful approaches for collecting time and expense data from project team members.

 Booking Details

To book this course contact us on 08707 303 400 or use the "Contact Us" form to register your interest.