15. Project Cost Management (CP)

Overview

Completion of a project on time and within budget is a fundamental goal of all projects. The purpose of project cost management is to help you better estimate, monitor and control project costs, the world of business.

Who should attend?

This program will be suitable for

• Project Managers

• Business/Line Managers

• Program Directors/Managers

. Program/Project controllers

. Senior program managers

How will this program benefit you?

By attending this program you will:

• Understand the importance of project cost management

• Learn project cost management principles, concepts, and terms.

. Understand different types of cost estimates and the methods of preparing them.

• Learn how to use Earned Value Management to assist in project cost control.

Program outlines

During this interactive course the following topics will be covered:

Introduction to project cost management

• The importance of managing project costs

• Balancing scope, time, cost and quality

• Project cost management compared to financial accounting

• Relevant financial terminology

Inputs to project cost estimation

• Project phases and the deliverables that go with them

• Types of project cost

• Marketplace considerations

• Internal policies

Project cost estimating

• Analogous cost estimation

• Determining resource cost rates

• Bottom up estimating

. Parametric model estimating

• Project management software

• Vendor bid analysis

• Outputs from cost estimating

• The cost management plan

Project cost budgeting

• Inputs to cost budgeting

• Cost aggregation

• Reserve analysis

• Parametric model estimating in relation to budgeting

• Funding limit reconciliation

• Outputs from cost budgeting – the cost baseline

• Cost management plan updates

Project cost control

• Introduction to cost control

• Performance measurement analysis

Managing risk where cost is concerned

• Identifying and assessing the risks

• Mitigation

Pre-program

Participants must pass an Interview to be able to register for this program.

Presented by

Tassili and AAPM specialist trainers.

Duration

24 Hours, This program’s duration is two weeks, five days per week, four hours per day for each level.

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