Budgeting and Controlling Costs
Descriere curs:
- Description: A small change in schedule, resources, or scope can result in a major change in cost. The processes associated with Project Cost Management help Project Managers measure project performance and monitor cost variances. This course will highlight the importance of Project Cost Management to project performance. It will cover the inputs, tools and techniques, and outputs for the Cost Budgeting and Cost Control processes. Through interactive learning strategies and real-life scenarios, the learner will explore these processes and gain a better understanding of the Project Cost Management knowledge area. This course is aligned with "A Guide to the Project Management Body of Knowledge" (PMBOK® Guide) - Third Edition, published by the Project Management Institute (PMI®), Inc., 2004. Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI®.
- Target audience: Project managers who are seeking to further their project management skills to more advanced levels
- Estimated Duration: 2.0 hours
- Lesson Objectives: Cost Budgeting: Establishing a Total Cost Baseline
• recognize how establishing a total cost baseline helps in planning project performance.
• match the inputs to Cost Budgeting with the descriptions of how each is used.
• match the tools and techniques with the descriptions of how they are used for Cost Budgeting.
• determine whether a cost baseline was correctly established in a given scenario.
• match the outputs from Cost Budgeting with the corresponding descriptions.
Controlling Costs
• recognize the reasons why it's important for project managers to control project costs.
• match the inputs with the descriptions of how each is used in Cost Control.
• match the tools and techniques with the descriptions of how they are used for Cost Control.
• calculate key values by using performance measurement analysis in a given scenario.
• calculate estimates at completion and estimates to complete by using forecasting.
• match the outputs from Cost Control with examples.
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