An Intensive 5-day Training Course
Establishing and Controlling Your
Project's Planned Expenditures
In today's results-driven business environment, stakeholders demand clear value for money and financial accountability. Unfortunately, many projects fall short of expectations due to budget overruns and poor cost control. Effective project budgeting and cost management are critical for delivering successful outcomes while maximizing resource efficiency.
The KC Academy Project Budgeting & Cost Management training course equips professionals with the skills, tools, and techniques to develop robust cost baselines, implement reliable cost tracking systems, and maintain financial control throughout the project life cycle. Participants will explore globally recognized project management standards and apply advanced cost management methodologies to mitigate financial risk and ensure successful project delivery.
This Project Budgeting & Cost Management training course will cover:
By the end of this Project Budgeting & Cost Management training course, participants will be able to:
Participants will develop advanced project management performance and control skills and knowledge through formal and interactive learning methods. This Project Budgeting & Cost Management training course includes case studies, group discussion and critical analysis of case material based on a fictional housing construction project.
Although this training course does not assume prior knowledge of the topics covered in the training course, some knowledge of or exposure to project management training course will be an advantage. New concepts and tools are introduced gradually to enable delegates to progress from the fundamental to the more advanced concepts of project cost planning, monitoring and control.
Organisations that implement the techniques taught in this training course will benefit from:
Delegates will gain:
In this module the participants will learn the PMI PMBoK® globally accepted standard approach to managing projects. This will provide the context for developing and managing the project budget. This module will cover:
The basis for good cost control is the development of an accurate Work Breakdown Structure (WBS) on which the work packages depend for accurate estimation. In this module, we will create the overall project schedule and learn how the project cost is tied to each individual project activity. This module will cover:
Whether working on a simple or complex project all project managers need to develop an accurate budget based on the total resources required for their project. Here the participants will learn how to create the detailed budget and the cost baseline necessary for project control. This module will cover:
In this module, the participants will learn about setting up Control Accounts, the Project Cost Performance Baseline and the necessary steps to monitoring and controlling the project budget. This module will cover:
Whether or not the project manager is familiar with Earned Value Management, it is rapidly becoming the favoured means of tracking project performance. In this module, the participants will learn that for large, complex projects the most accurate way to track progress and performance is through Earned Value Management. Participants will learn about measuring and interpreting EVM results and how to report project status to senior management and customers. This module covers:
On successful completion of this training course, KC ACademy Certificate will be awarded to the delegates.
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