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Effective Project Cost Management Training Course

Every project manager is concerned with cost,because every organization measures cost as a sign of success.

2 onsite days (14 hours) or 4 virtual sessions (3.5 hours each) | 14 contact hours (PDU’s)

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PRINTABLE COURSE CATALOG

COURSE DESCRIPTION

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 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. These principles are useful in your organization and a wide range of businesses – healthcare, government, service, engineering, manufacturing, education, etc.

This course is interactive, including small group exercises, large group discussions, and instructor facilitation.

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.
  • Perform basic Cost – Benefit analysis using Payback Periods, Net Present Value, and Internal Rate of Return.
  • Understand the four techniques for cost estimating:
    • Analogous
    • Parametric
    • Bottom-up
    • Three Point
  • Convert a cost estimate into a budget.
  • Understand earned value techniques to control costs.

PMI, PMP, and PMBOK are registered trademarks of Project Management Institute, Inc.

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The PMP Exam has been pushed back (again) to 2-Jan-2021.  If you are interested in getting people in your organization PMP Certified, you should try to get it done by the end of 2020.  This is the biggest change to the PMP Exam in history – it will require much more knowledge in order to pass.