Introduction

Managers and customers expect to get value for money. A significant number of projects have been cancelled or are seen as a failure because they ran too far over budget. This five-day training seminar will present the 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.

The training course will cover:

• The 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

By the end of the program, participants will be able to :

• See how the budget relates to the two key financial statements: balance sheet and income statement.
• Prepare a budget consistent with the organization’s strategic plan.
• Use appropriate estimation techniques in the development of revenue and expense budgets.
• Identify all the appropriate costs to be included in a capital expenditure proposal.
• Analyze management cost reports and take corrective action.

Training Methodology

Participants will develop advanced project management performance and control skills and knowledge through formal and interactive learning methods. The training seminar includes case studies, group discussion and critical analysis of case material based on a fictional housing construction project.

Although the training seminar does not assume prior knowledge of the topics covered in the course, some knowledge of or exposure to project management training will be an advantage. New concepts and tools are introduced gradually to enable delegates to progress from the fundamental to the more advanced concepts of project cost planning, monitoring and control.

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

This course is primarily designed for project managers or individuals who have project management training, or experience in project management techniques such as scope statement development, work breakdown structures, risk and resource planning. Prior involvement with project budgets or cost estimating at an elementary level is expected. This is NOT a course for professional full-time cost estimators. Individuals taking this course should have at least two years of experience working on project teams.

Certificates

A Certificate of Completion will be issued to those who attend & successfully complete the programme.

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 is: