COURSE OVERVIEW

This course is designed to give delegates a comprehensive understanding of Project Budgeting and Project Cost Management. The program includes project financial selection criteria, cost estimating, budgeting and managing the cost on a project. The program focuses on concepts such as Earned Value Management to measure the progress of a project.

TARGET AUDIENCE

This course is tailored especially for those who are involved in the cost aspects of a project such as Project Managers, PMO Managers and Project Cost Executives.

LEARNING OUTCOMES

After this course, the participants should be able to:

• Understand general cost & financial management concepts in project management
• Identify How projects are selected using financial models
• Monitor the budget throughout the project lifecycle using Earned Value Analysis
• Identify potential financial risks and implement contingencies
• Forecast project cost performance

COURSE OUTLINE

• Cost Management a Constraint of a project
• Project Selection Methods using Cost/ Benefit analysis
  • The various tools like NPV, IRR, payback period, etc
• What are costs and the types of cost?
  • Direct & Indirect Cost
  • Fixed & Variable Cost
  • What is Depreciation
  • CAPEX & OPEX
• Project Cost Estimation
  • Selecting Estimating methods
  • Methods: Top-Down, Bottom-Up, Parametric, Industry Guidelines
  • Organisational Policies
• Project Budgeting
• Risks & Contingencies
• Monitoring & Controlling
  • Setting up and Managing Cash-flows
  • Using convention methods to monitor
  • Using Earned Value Analysis to manage project
    • Performance Indicators
    • Forecasting cost at selected junctures
• Measure the ROI of the Project 

This program is done through collaboration with our strategic partner Project Management Academy (PMA) Sdn Bhd, a Project Management Institute (PMI®️) Authorized Training Provider (ATP).