This two-day course provides participants with a proven set of methods, processes, tools and techniques to develop a systematic and dynamic project plan to ensure progressive monitoring control and reporting of the project cost.

• Introduction – The Project Cost Management Processes – estimate costs, determine budget and control costs

  • Estimating Cost
  • Understanding Project Management Inputs to Estimating Cost
  • Creating the Work Breakdown Structure (WBS)
  • Work Packages as Building Blocks
  • Estimation Techniques
  • Optimising the Schedule

At the end of the course, participants will be able to

• Understand the benefits of good project cost control for successful project outcomes
• Use best practices to minimise costs and negative impacts
• Understand a typical project cost management life cycle
• Describe the action required at each phase of the project cost management life cycle
• List the key attributes of the cost necessary to understand and manage cost-effectively
• Explain the key steps required to improve project estimates, budget and cost baselining,
• understand performance measurement and analysis, cost monitoring and control during project execution and interpreting and reporting project performance throughout a technical project life cycle
• Specify key quantitative measures for determining the project performance using Earned Value Management (EVM)
• Provide meaningful project progress reports using EVM together with forecasts of likely outcomes and management options to correct where necessary

• Programme Managers
• Finance Personnel
• Project Managers and Project Team Leaders
• Project Planning Engineers and Heads
• Senior Project Control and Business Services Professionals
• Project Management Professionals