Skills for Project Planning/ Scheduling and Cost Estimation Planning Course
Accounting, Finance and Budgeting Training
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Skills for Project Planning/ Scheduling and Cost Estimation Planning Course
Course Overview:
The Skills for Project Planning/Scheduling and Cost Estimation Planning course is aimed at imparting the participants with the requisite knowledge and techniques needed to estimate, plan and control the costs and time for projects.
It is expected that by the end of this course, participants will be skilled in different types of estimation techniques, identification and management of risks as well as performance control measures which are all meant towards ensuring that projects are delivered as planned and that resources are optimally utilized.
Core areas include cost estimation, risk management processes, concepts of time, cost and scope trade-offs, and management of schedule and cost overruns. Likewise, the course further highlights the need to emphasis on the processes of tracking and project forecasting in order to improve control of the project and avert time overruns.
Such a training is suitable for project managers, cost estimators, planners and procurement officers who take part in project planning, cost control and project implementation.
Course Objectives:
By the end of the Skills for Project Planning/ Scheduling and Cost Estimation Planning training Course, participants will be able to:
- Understanding the techniques in project estimation from initial to final stages
- Understanding the different types of estimated and the methodology
- Analyzing and identifying the sources of the risk and how to minimize the impact
- Cost management and integrating approach into a dynamic and manageable model objective
- Understanding the importance of maintaining continuous project performance and delivery control
- Accurate estimating and allocating project costs and resources
- Forecast measurement and controlling project performance
- How to manage and mitigate project schedule, cost, scope and resource risks
Who Should Attend?
Skills for Project Planning/Scheduling and Cost Estimation Planning Skills Training Course is ideal for:
- Project Managers
- Project Cost Estimators
- Cost Controllers
- Project Planners
- Contract Professionals
- Project Procurement Staff
- Individuals who are interested in Project Initiation, Project Estimating and Budgeting, and Development
Course Outlines:
Basic Information on Project Estimation
- Introduction to methods and terminology of project management
- Understanding of the triple constraints (“Time”, “Cost” and “Scope”)
- Methods of selection of projects
- Understanding of the scope of project, cost and schedule estimation
- Planning the project schedule and “Critical Path Method”
Cost Budgeting and Control in Projects
- Understanding the inputs from project management to cost budgeting
- Difference between “Direct costs” and “Indirect costs” in a project
- Understanding the planning and scheduling of limited resources
- How to accelerate the project schedule
- How does the project schedule fail? And WHY?
Risk Management in Projects
- Identification and analyzing risks
- Concept of “Contingency Reserve”
- Concept of “PERT” – (Probability and Standard deviation formula)
- Understanding the risk profiles in network activities
- How to estimate a project duration?
- Strategies for overcoming risks in projects
Measurement of Project Performance
- How to balance a project schedule by inserting “Buffers” and without “Buffers”
- Understanding the comparison of “Unbalanced and Balanced” Project schedules
- How to measure a project performance on the basis of risk distribution in contracting
- Estimation of “Actual Progress” and “Working Conditions”
- How to manage in variable conditions?
Recovering of Project Estimates
- Understanding the concept of “Schedule variance” and “Cost Variance”
- Estimating and analyzing “Progress Control Charts” for a project- “Trend Analysis”
- Forecasting schedule and cost variance
- Implementation of cost recovery plan and cost recovery analysis
- Method and control measures for project recovery
- Review of the course and “Question and Answer session”
see more: Spreadsheet Skills for Planning, Forecasting and Budgeting Course
