Programme Overview:
Countless numbers of projects undertaken by organizations significantly overrun the project schedule and budget, and as a consequence fail to achieve the organization’s financial and strategic objectives. Delivery of a successful project is defined by your overall cost performance and ability to meet project deadlines.
Project managers need to have the ability to allocate time and resources efficiently to manage costs and keep the project on track. Almost all organizations look for these project management skills because they showcase your ability to stay organized and communicate with team members, especially when handling complex projects.
Project scheduling is just as important as cost budgeting as it determines the timeline, resources needed, and reality of the delivery of the project. This requires the application of a logical framework for scheduling and controlling project activities through: –
– Estimating, forecasting, budgeting, monitoring, controlling, analyzing, and reporting costs techniques and interpreting the meaning of earned-value data.
Our training programme equips participants with straightforward approaches to developing a cost baseline and setting up a cost-tracking system so that the budget is well managed during the project’s life cycle.
This training covers: –
– The PMI PMBOK global standard for managing projects
– Estimating cost techniques, including the Work Breakdown Structure, Work Packages, and risk management considerations
– The S-curves for risk and cost estimates
– Control accounts and change control
– Earned Value Management, performance variances, and management recovery options
Course Objective:
The purpose of this course is to provide the techniques required while collecting all the work needed to deliver the project on time, within budget and expected quality.
Participants will be able to:
Know the Project Management Phases
Use the work breakdown structure to develop a network diagram
Calculate schedules using PERT/CPM
Identify, assign and tabulate resource requirements
Predict costs and work time using specific levels and estimate types
Plan for contingencies and anticipate variations
Predict future project performance based on historical data
Monitor changes and closes out projects on time
Course exit-level-outcomes
Upon successful completion of this course, Participants will be able to:
Complete the project as early as possible by determining the earliest start and finish of each activity
Calculate the likelihood a project will be completed within a certain time period.
Find the minimum cost schedule needed to complete the project by a certain date
Investigate the results of possible delays in activity’s completion time
Develop a Progress control
Smoothing out resource allocation over the duration of the project
Monitor cost performance to detect and understand variances from plan
Ensure that all appropriate changes are recorded accurately in cost baselines
Prevent incorrect, inappropriate, or unauthorized changes from being included in the cost baseline
Inform appropriate stakeholders of authorized changes
Act to bring expected costs within acceptable limits
Draw an expense ‘‘S-Curve’’
Determine the Value of work performed ‘‘Earned Value’’
Know Performance measurement:
– how am I doing against my baseline plan
– What do I need to do to bring the project in on cost and schedule?
Course offers 3 CPD Points to Engineers and 20 Points for Architects
Course Features
- Lectures 0
- Quizzes 0
- Duration 3 days
- Skill level All levels
- Language English
- Students 0
- Assessments Yes