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Project Cost Management
Duration
5 hours
Overview
Audience
This course is suitable for anyone who needs to develop an understanding of Project Cost Management principles aligned to the PMBOK® Guide-Sixth Edition.
Prerequisites
Successful completion of the “Introduction to Project Management and PMBOK® Guide-Sixth Edition” module.
Objectives
- After completing this course, the student will be able to:
- Describe the four Project Cost Management Process Groups and associated project cost management processes
- Use tools and techniques to prepare project costs and determine budget
- Understand the relationship between time, cost, and quality
- Identify the differences between ‘top down' and ‘bottom up' budgeting methods
- Identify and differentiate between cost monitoring procedures
- Use projected final cost analysis to monitor project costs
- Understand the concepts of earned value analysis (EVA)
- Determine value of work completed
- Identify project variances and performance indices
- Forecast cost and time needed to complete projects
Course Content
An Introduction to Cost Management and Estimation
Budgeting
Estimating Costs
Controlling Cost
Cost Control
Estimate at Completion Cost Analysis
Predicted Final Cost
Controlling Cost with Earned Value Management Part 1
Cost Breakdown Structures
Earned Value
Project Value
Controlling Cost with Earned Value Management Part 2
Introduction to Earned Value Analysis
Limitations of Resource Management
Value of Work Done
Analyzing Project Variances Part 1
Project Variances
Analyzing Project Variances Part 2
Performance Indices
Forecasting for Cost Control
Control Cost Tool
Forecasting