Project Time and Cost Management Training

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