Project Planning, Budgeting & Cost Control (Advanced Project Schedule Cost Control)

 

Introduction

This course is designed to provide participants with a detailed and up-to-date overview of project scheduling and cost control. It covers the various tools and techniques of project planning, scheduling and control cycle; the scope management as one of the key factors in planning the project success; the purpose of the work breakdown structure (WBS) and importance in engineering planning and scheduling; and the techniques and practical applications of the critical path method (CPM) to effectively plan and control a project

Today, the human mind is often absorbed in so much data, that it has difficulty processing the multitude of facts and relationships simultaneously and sometimes forgets important elements. Thus, as plans become more and more intricate, they should be documented in writing and include qualitative narratives of goals, objectives, and means of accomplishing the objectives.

This course will allow the participant to explore and share with other participants new thoughts in the planning, control, and budgeting cycle, resulting in a renewed energy in returning to the workplace and implementing a more focused budgeting process, which communicates useful and timely information to management.

The course will provide a framework for each topic covered, and then will make extensive use of exercises and case studies.

  • Live group instruction
  • Detailed practical examples
  • Use of case studies and real world examples
  • Interactive participation

All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

What this course will enable you to do:

  • Acquire best practices in budgeting
  • Understand the strategic role of cost concepts
  • Explain the costs concepts to the use of cost information for management control
  • Describe the role of budgets in the management process
  • Discuss the importance of strategy and its role in the master budget
  • Prepare a master budget and explain the interrelationships among its supporting schedule
  • Understand zero-base, activitybased, and kaizen approaches to budgeting
  • Explain the essence of control systems
  • Develop flexible budgets for evaluating short-term financial performance
  • Identify different cost control measures
  • Measure and evaluate performance
  • Leverage emerging technologies for delivering operational excellence

Objectives:

Upon the successful completion of this course, each participant will be able to:-

  • Apply systematic techniques in project scheduling and cost control
  • Outline the various tools and techniques of planning and control cycle
  • Recognize the scope management as one of the key factors in planning the project success
  • Determine the purpose of the work breakdown structure (WBS) and emphasize importance in engineering planning and scheduling
  • Review the techniques and practical applications of the critical path method (CPM) to effectively plan and control a project
  • Identify and use schedule bar charts
  • Review and carryout procurement schedule in engineering planning and scheduling
  • Employ the techniques in resource planning and recognize its scope and practical application in engineering planning and scheduling
  • Implement the various techniques used to control the cost of the project and complete the project within budget

Training Methodology

Strategic Planning, Effective Budgeting & Cost Control are taught through case studies, experiential exercises and practical examples that can used immediately to improve your project results.

This interactive training course includes the following training methodologies as a percentage of the total tuition hours:

  • 30% Lectures, Concepts, Role Play
  • 30% Workshops & Work Presentations, Techniques
  • 20% Based on Case Studies & Practical Exercises
  • 20% Videos, Software & General Discussions
  • Pre and Post Test

WHO SHOULD ATTEND?

  • Professional staffs who work in budgeting and cost control, Managers and Supervisors from finance or other departments who need to develop their knowledge of the management of business finance.

 

Outline

Day 1  

Introduction to Project Scheduling

General Planning

  • Life Cycle Phases
  • Project Planning
  • Project Scheduling
  • The Statement of Work
  • Project Specifications

Planning & Control Cycle

  • Project Planning Steps
  • Project Control Cycle

Planning & Control Cycle (cont’d)

  • Reporting Frequency

Day 2

 Scope Management

  • Project Initiation
  • Scope Planning
  • Scope Definition
  • Scope Verification Scope Change Control
  • Project Closeout

Work Breakdown Structure (WBS)

  • The WBS Structure
  • Method of Sub-Division
  • WBS Templates
  • How Many WBS Levels?
  • Estimating

Work Breakdown Structure (WBS) (cont’d)

  • The Numbering System
  • WBS Roll-Up
  • Responsibility
  • Foreign Currency

Day 3

 Critical Path Method

  • Network Diagram
  • Definition of an Activity
  • Logical Relationships
  • How to Draw the Logical Relationships
  • Activity Logic Table
  • Activity Duration

 Critical Path Method (cont’d)

  • Calendar/Work Pattern
  • Critical Path Method Steps
  • Forward Pass
  • Backward Pass
  • Activity Float

Critical Path Method (cont’d)

  • Network Diagrams
  • Logical Errors
  • Definition of an Activity
  • Calendar/Work Pattern
  • Activity Float

Day 4

Schedule Bar charts

  • How to Draw a Barchart
  • Tabular Reports
  • Activity Float
  • Select & Sort Functions
  • Hammocks
  • Events, Keydates & Milestones

Procurement Schedule

  • Procurement Cycle
  • Procurement Schedule
  • Expediting
  • B2B Procurement
  • Just-In-Time

Resource Planning

  • Resource Estimating
  • Resource Forecasting
  • Resource Availability
  • Resource Histogram
  • Resource Loading
  • Resource Smoothing
  • Time Limited Resource Scheduling
  • Resource-Limited Resource Scheduling
  • How to Increase Resources
  • Reduce Resources
  • Resource Pl

Day 5

Cost Control

  • Fixed & Variable Costs
  • Activity Based Costing
  • Time Estimating
  • Volumes

Cost Control (cont’d)

  • Breakeven
  • Breaking Costs Down to Elements for Purposes of Improved Accuracy – Using Project Management Methods
  • Breaking the Budget into Time Periods for Period & to Date Targets & Control Objective
  • The Need for Cash Flow Control

Cost Control (cont’d)

  • Cost Variances
  • Volume Variances
  • Managing the Resources to get Feedback for Control & Corrective Action Purposes – Meetings, Minutes & Other Verbal, Written Communications
  • Engineering Change Proposals

Cost Control (cont’d)

  • Time & Cost Variances
  • Cost Schedule Control System in Projects
  • When the Budget is Going out of Control – What is Expected? & How do I Know What to Do?
  • Case Study : Yayasan Corporation

Schedule

 

  • 08:30 – 10:15 First Session
  • 10:15 – 10:30 Coffee Break
  • 10:30 – 12:15 Second Session
  • 12:15 – 12:30 Coffee Break
  • 12:30 – 14:00 Third Session
  • 14:00 – 15:00 Lunch

 

Fees

 The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack :