Project Cost Management

Training Provided by Boston University Corporate Education Center The first step in successfully managing a project s costs is to have a project budget that realistically reflects the costs for executing the project. This course gives project managers the tools they need to develop reliable cost estimates by assessing necessary project resources, applying one or more cost estimating methods, adjusting the estimates based on resource availability and project risk, and evaluating the quality of cost estimates prepared by others. This course is 100% compliant with the Project Management Institute s (PMI s ) current Project Management Body of Knowledge (PMBOK ).

Project Cost Management

MDP270 - Project Cost Management

Course description
The first step in successfully managing a project’s costs is to have a project budget that realistically reflects the costs for executing the project. This course gives project managers the tools they need to develop reliable cost estimates by assessing necessary project resources, applying one or more cost estimating methods, adjusting the estimates based on resource availability and project risk, and evaluating the quality of cost estimates prepared by others. This course is 100% compliant with the Project Management Institute’s (PMI’s®) current Project Management Body of Knowledge (PMBOK®).

Who should attend
This course is primarily designed for project managers or individuals who have project management training, or experience in project management techniques such as scope statement development, work breakdown structures, risk and resource planning. Prior involvement with project budgets or cost estimating at an elementary level is expected. This is NOT a course for professional full-time cost estimators. Individuals taking this course should have at least two years of experience working on project teams.

What you will achieve

• An understanding of the three basic cost estimating methods contained in the PMBOK® Guide, Third Edition, and the advantages and disadvantages of each


• The ability to prepare a basic cost estimate using bottom-up estimating


• The ability to evaluate the adequacy of a cost estimate prepared by a project team member


• The ability to prepare a project cost baseline, allocating estimated costs over the life cycle of the project

What you will learn

• Analogous and Parametric Estimating - how to use information from previous projects and industry standards to estimate costs for a new project


• Bottom-up Estimating - how to develop a project estimate, working upward from the project’s work activities


• Estimate Evaluation - how to record cost estimates, and things to look for to evaluate the quality of a cost estimate


• Life-Cycle Costing - how to estimate the costs of long-term and multi-year projects Time-Phased Budgeting - how to prepare a project cost baseline that will be used to measure and monitor cost performance during project execution
  
  Agenda
  Day One


• Course Introduction


• Overview of Project Cost Management


• Cost Estimating
  
  Day Two
  


• Cost Budgeting


• Cost Control

Boston University Corporate Education Center, operated by TechSkills LLC 72 Tyng Road | Tyngsboro, MA 01879 | 1.800.288.7246 Copyright © 1997 - 2007 Boston University Corporate Education Center

About The Training Provider: Boston University Corporate Education Center

More Business Management Training from Boston University Corporate Education Center

• Accelerating Product Development Using Project Management
• Advanced IT Project Management
• Advanced Project Scheduling
• Advanced Purchasing Strategies sup sm sup
• Advanced Strategic Planning
• BPM Professional Certification Practicum - Conducting an Analysis and Design Project
• Building Cultural Intelligence
• Business Management Skills for Project Managers
• Business Writing for Results
• Certificate in Applied Project Management Days
• Certificate in Applied Project Management Evenings
• Chartering Teams to High Performance
• Coaching for Business Results
• Commercializing New Products and Services Rapidity and Results
• Communicating with Influence Building Successful Interpersonal Team Communication
• Design For Six Sigma Service
• Developing a Project Management Office
• Developing Into a Powerful Leader
• Directing Teams to Finesse Team Facilitation and Coaching
• Driving Performance Through Emotional Intelligence
• Effective Project Leadership
• Finance Accounting for Non-Financial Managers
• Getting Our Message Across Strategies for More Effective and Confident Public Speaking
• How To Achieve Results Through Influencing
• How to Purchase Services
• Improving Purchasing Performance - Developing New Skills for A Changing Profession
• Improving Supervisory Management Skills
• Improving Your Presentation Skills
• Improving Your Purchasing Negotiating Skills sup sm sup
• Information Gathering and Facilitation for Business Processes
• Introduction to Business Process Management for Business Analysts
• Introduction to Business Process Management for Project Managers
• Introduction to Business Process Modeling Analysis and Design
• Leadership Excellence in a Complex World
• Leading Managing Successful Teams
• Lean Six Sigma Black Belt
• Listening to Influence Getting More Out of Conversations
• Making Your Ideas Theirs Advanced Communication Strategies
• Management Planning The Bridge Between Strategic Direction and Project Implementation
• Managing a Business Process Project
• Managing Generational Differences Piloting and Motivating the New Work Force
• Managing Information Technology IT Projects
• Managing Successful Negotiations
• Managing Troubled Projects
• Maximizing Global Success Designing and Managing Remote Operations
• Newly Appointed Managers
• Peer Mentoring A practical approach to knowledge transfer
• Positive Assertive Management
• Preparing for the PMP Exam
• PRINCE2 Foundation
• PRINCE2 Overview
• PRINCE2 Practitioner
• Principles of Business Process Management
• Principles of Project Management Business Analysis
• Principles Techniques of Project Management
• Program Management Managing in the Complex Multiple Project Environment
• Project Communications Management
• Project Framework and Integration Management
• Project Human Resource Management
• Project Management Earned Value Management Systems Methods EVMS
• Project Management Fast Track
• Project Management for Everyone A non-technical approach
• Project Management Using Microsoft Project 2003
• Project Planning and Control
• Project Procurement Management
• Project Quality Management
• Project Risk Management
• Project Scope Management
• Project Time Management
• Relationship Management Up Down and Sideways
• Seven Steps to Improved Work Flows
• Simulation of Real World Project Management
• Situational Leadership - Twelve O Clock High
• Situational Leadership The Core
• Six Sigma Champions Training
• Strategic Alignment of the Project Portfolio
• Strategic Decision-Making and Problem-Solving for Leaders
• Strategic Marketing Concepts Strategies
• Strategic Thinking Planning and Deployment
• Strategies for Managing Change Managing People in a Changing Environment
• Strengthening Effectiveness Across Organizational Boundaries
• The 5 Management Essentials for New Managers and Supervisors
• The Legal Aspects of Purchasing sup sm sup
• Time Management Survival Skills
• Understanding Managing Conflict
• Understanding Working with People