WORKSHOP OVERVIEW
The Cost Management 2-day course is a practical introduction to the lifecycle of costs throughout a Project. From initial cost definition at Project Initiation, through detailed refinement during Project Planning, and on to management and reporting of costs through Project Execution. The course will cover processes as well as useful tools the attendees can utilize from Day 1 of return to the workplace.
Project Execution is where the actual planned deliverables are built and implemented. The attendee will learn how to effectively track and analyze the costs as they are incurred and to gauge the impact on the overall budget. Earned value will be introduced to ensure that costs being reported accurately reflect completion of planned or budgeted work i.e. cost performance. Key tracking and reporting methods will be taught that address the needs of the respective stakeholders utilizing input from the corporate finance reporting area.
Overall the focus is on practicality and usefulness of learnings. Superior handouts, tools, templates and case studies will ensure the most effective use of the attendees’ time and provide real value to their companies.
TRAINING OBJECTIVE
- The concepts and practical application of effective project cost management
- How to integrate cost management with project scheduling
- How to identify and classify different sources of costs
- Methods for estimating costs
- Strategies for planning cost contingencies
- How to plan and finalize a realistic project budget
- Approaches for forecasting project cost performance
- Techniques for tracking and analyzing costs
- How to effectively manage cost changes
- Essential cost management steps at project closeout
TARGET AUDIENCE
- Head of Projects
- Project Directors
- Project Managers
- Project Engineers
- Project Finance Managers
- Project Development Engineers
- Project Contract Managers
- Structural Engineers
- Technical Managers
- Scheduling and Planning Managers
- Product Development Engineers
- Quality and Process Improvement Managers
For further information, kindly click on the request event brochure button.