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#923
Project Time and Cost Management Training
Course 923
- Duration: 4 days
- Language: English
-
23 PMI PDUs
- Level: Intermediate
Two common major areas of project overrun are time and money. In this Project Time Management and Project Cost Management training course, you gain solid schedule and budget management skills. You learn how to define the work and calculate a realistic critical path. You establish a budget baseline by allocating resources to tasks, aggregating project budgets, and quantifying risk. By setting up Earned Value Analysis, you will be able to report on project status and forecast future performance.
Train your whole team by bringing this course to your facility
In-Person
Online
Project Time and Cost Management Training Course Benefits
In this course, you will learn how to:
- Create a realistic and robust project plan.
- Estimate tasks and aggregate them to the project level.
- Calculate critical path to determine project duration.
- Determine total project costs.
- Quantify risk to produce a defensible baseline.
- Leverage best practices to significantly improve project outcomes.
Prerequisites
Project management experience at the level of:
- Learning Tree course 296, Introduction to Project Management Training, or
- Learning Tree course 340, Software Project Management Training
Project Time and Cost Management Training Outline
- Identifying critical issues in successful scheduling
- Preparing realistic budgets
- Building a baseline, you can live with
Creating manageable activities
- Deriving information from a statement of scope and project constraints
- Seven rules for determining manageability
Building a deliverable-oriented Work Breakdown Structure (WBS)
- Defining deliverables
- Contrasting deliverable orientation with other WBS types
Translating a WBS into earned value controls
- Determining required granularity
- Setting up control account points
Defining precedence relationships
- PMI dependency types
- Mapping dependencies to relationship types
Establishing dependencies
- Leveraging SME experience
- Putting tasks in order
- Determining lead and lag times
Choosing the right estimating approach
- Moving from top down to bottom up
- Employing analogous and parametric techniques
Working with estimation tools
- Utilising simple in-house tools and templates
- Taking advantage of commercially available software
Dealing with uncertainty
- Determining a three-point estimate
- Building confidence into your numbers
Computing the critical path
- Performing forward and backward passes
- Identifying float/slack time
Activity-Based Costing (ABC)
- Working with the Cost Breakdown Structure (CBS)
- Rebuilding the WBS and a CBS using company cost codes
Categorising costs
- Determining activity-level direct, indirect, and other costs
- Aggregating tasks up to total individual costs
- Ratifying the granularity of estimates
Forming the interim cost baseline
- Determining the total project costs
- Managing the team's estimation process
- Conforming to accuracy requirements
Creating Gantt charts
- Establishing the project duration and end date
- Representing relative durations of activities graphically using a Gantt chart
Realistic resourcing and resource requirements
- Building a Resource Breakdown Structure (RBS)
- Addressing resource constraints
Quantitatively analysing risk
- Assessing probability
- Establishing the monetary value of the impact
- Prioritising risk using a Pareto analysis
Allocating contingency budgets and schedules
- Locating and controlling contingency
- Developing a mitigation plan
Plans that make sense
- Declaring and revalidating project value
- Defending your project plan
Preparing for Earned Value Management (EVM)
- Demonstrating variance between planned and actual values
- Forecasting project outcomes
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Project Time and Cost Management Course FAQs
Yes, you will learn 23 PDUs after you complete this course.