Project Cost Management
Course Code: PDP 5133
This course provides a thorough treatment of the PMBOK® Project Cost Management knowledge area and prepares you in all aspects of the PMI® “Project Manager Competency Development Framework.” It goes beyond PMBOK® in addressing the cost and pricing issues in project selection, cost benefit analysis, developing the business case, and then executing and controlling the project using current quantitative methods such as earned value management. Through all, this course employs practical hands-on learning methods through the use of case studies and interactive discussion.
Who Should Attend
Project managers, organizational managers, and team leaders will all benefit by acquiring the skills they will need to address issues of project selection, cost benefit analysis, cost estimating, budgeting, and contingency planning.
What You Will Learn
• Project selection and initiation, as well as business case and cost benefit development
• Project resource planning, use of historical pools, creating the RAM and resource table, and using resource histograms to analyze and level resources
• Cost estimating methods, practical approximations, use of range estimates, and developing confidence levels
• Verifying completeness of cost estimates, establishing a cost management plan, and cost control mechanisms
• Applying the “Cost as Independent Variable (CAIV)” technique to live with the practical realities of tight budget constraints
• Allocation of estimates to a cost baseline, time-phased budgeting, simple cost accounting systems, and chart of accounts
• Procedures to monitor cost performance during project execution
• Cost analysis methods, earned value performance measurement, variance analysis and reporting, revised estimates at completion, and corrective action plans
• Cost risk and contingency planning
How You Will Benefit
• Awareness and mastery of cost management builds confidence in leading a project team
• Easy-to-use, sensible approach to preparing and managing the cost baseline
• Vision for establishing practical organizational practices and culture that are based in practical cost management methods
• Condensed, focused preparation for the project cost management portions of the PMP® Certification, with full treatment of the new 2004 revisions to PMBOK®
• Insight into the OPM3 maturity assessment for Project Cost Management
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Dates / Locations
There are no current sections scheduled for this course number.
Please note that courses have been assigned new numbers beginning with the fall term.
Please check the new course number for course availability.
Fees
Please call for details.
Instructor
TBD
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