Project Cost Management Techniques (6 PDUs)

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Overview

This course empowers project managers to master project cost management. Best practices for cost estimating, budgeting, and variance tracking are explored using the latest Microsoft Project tools and techniques.

Intended Audience


At Completion

After completing this course, each student will know how to: Create a project cost model using Microsoft Project

  • Define work and material resources
  • Differentiate between full accrual and prorata accrual methods, and learn best practices for applying each
  • Perform cost estimatingAuthorize overtime work and
  • balance cost vs. schedule trade-offs
  • Define a cost budget using custom cost accounting codes
  • Baseline a cost budget
  • Control fixed and variable costs
  • Model material consumption rates, contract fees, cost rate increases, and variable cost rates
  • Track cost variances
  • Interpret earned value reports
  • Export time-phased cost data for spreadsheet analysis and graphing

Prerequisites

Experience working on or leading projects. Experience using Microsoft Project and spreadsheet software such as Microsoft Excel.

Exams & Certifications

​None


Materials

​Student Workbook


Course Outline

Lesson 1 - What is Project Cost Management

  • Project Cost Management Overview
  • Project Cost Management Process Groups
  • What's that Going to Cost?
  • Integration with Other Process Steps
  • Stakeholder Influence
  • Corporate Knowledge Bases
  • Cost of Project Errors

Lesson 2 - Planning Project Cost Management

  • Plan Cost Management
  • Plan Cost Management Tools and Techniques
  • Plan Cost Management Inputs
  • The Project Management Plan
  • The Project Charter
  • Enterprise Environmental Factors
  • Organizational Process Assets
  • Plan Cost Management Output

Lesson 3 - Estimating Costs

  • Estimate Costs
  • Cost Estimate Components
  • Estimating Techniques
  • The Work Breakdown Structure (WBS)
  • The Project Schedule
  • Estimate Cost Process Flow

Lesson 4 - Determining the Project Budget

  • Determining the Budget
  • Determin Budget: Tools & Techniques
  • Cost Budgeting
  • Funding Requirements

Lesson 5 - Controlling Costs

  • Control Costs: Inputs, Outputs, Controls
  • Earned Value Management (EVM)
  • Work Performance via PMIS
  • Things to Remember

 

 

 

Project Cost Management Techniques (6 PDUs)http://springhouse.com/course-catalog/PROJCOSTMANProject Cost Management Techniques (6 PDUs)

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PMI R.E.P.

The PMI R.E.P. logo is a mark of the Project Management Institute, Inc.
The Microsoft Gold CPLS logo is a mark of Microsoft, Inc.

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