INTRODUCTION
This course is designed to give delegates a comprehensive understanding of Project Budgeting and Project Cost Management. The program includes project financial selection criteria, cost estimating, budgeting and managing the cost on a project. The program focuses on concepts such as Earned Value Management to measure the progress of a project.
TARGET AUDIENCE
This course is tailored especially for those who are involved in the cost aspects of a project such as Project Managers, PMO Managers and Project Cost Executives.
LEARNING OUTCOME
After this course, the participants should be able to:
- Understand general cost & financial management concepts in project management
- Identify How projects are selected using financial models
- Monitor the budget throughout the project lifecycle using Earned Value Analysis
- Identify potential financial risks and implement contingencies
- Forecast project cost performance
COURSE OUTLINE
- Cost Management a Constraint of a project
- Project Selection Methods using Cost/ Benefit analysis
- The various tools like NPV, IRR, payback period, etc
- What are costs and the types of cost?
- Direct & Indirect Cost
- Fixed & Variable Cost
- What is Depreciation
- CAPEX & OPEX
- Project Cost Estimation
- Selecting Estimating methods
- Methods: Top-Down, Bottom-Up, Parametric, Industry Guidelines
- Organisational Policies
- Project Budgeting
- Risks & Contingencies
- Monitoring & Controlling
- Setting up and Managing Cash-flows
- Using convention methods to monitor
- Using Earned Value Analysis to manage project
- Performance Indicators
- Forecasting cost at selected junctures
- Measure the ROI of the Project