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Project Cost Management


Overview

Cost Estimation and Budgeting In Project Management

The success of any business project will always be measured in its profitability. Or at least, its overall cost-effectiveness. Even when a project doesn’t exclusively target improved revenues, effective budgeting will determine its viability. Until a project reaches completion and/or fruition, it represents a cost the business must bear.  This is where accurate cost estimation and budgeting in project management shows it value. If the total project cost exceeds the value of the outcome, the project fails. Even if the primary goal of the project is reached, excessive spending may still result in a negative outcome for the business. As such, cost management in project management can be just as critical as the very viability of the project/idea itself.

Discover what it takes to become a confident and capable project cost manager with this targeted tutorial. Learn how to determine an accurate initial budget, breaking down all key project costs and evaluating expense. Explore human resource costs, administration costs and how to go about accurate cost estimations. Find out how to evaluate and create accurate project budgets from scratch, by working effectively with the data and information available at its inception.

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Objectives

  • Identify the costs involved in managing a project
  • Outline effective cost management techniques

Programme Content

Topics:

  • Determining the Initial Budget
  • Breaking down Project Costs
  • Human Resource Costs
  • Administrative Costs
  • Resource or Project Costs
  • Planning the Project Resources
  • Resource Planning Inputs
  • Expert Judgment
  • Identifying Alternative Solutions
  • Cost Estimating
  • The Cost Estimating Inputs
  • Estimating Activity Durations
  • Project Costs Estimates
  • Developing the Project Budget
  • Creating the Cost Baseline

Target Audience

  • Project managers and co workers looking to develop their CPD
  • Business owners, managers and entrepreneurs
  • Confident, self motivated and passionate candidates
  • Entrepreneurs planning to start their own business.
  • Candidates seeking to expand their career opportunities
  • Individuals looking to enhance their CVs

Prerequisites

No prior knowledge is required to take this unit.

Overview

  • Participants:8 - 400
  • Duration: 2 - 3 hours
  • Participation:Only collaborative

Key Benefits

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Related

Course Level
Study Method Online
Course Duration 10 Hours
Start Date on going
Awarding Body BOLC
Pay in Instalment Full Fee £ 120, Deposite £ , ( £ 0/month )
Full Fee:    £ 120

Discount:    £ 30

Pay Today:    £ 90


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Pay in Full
Get £ 30 Discount Pay Today £ 90
you can pay Staff Training Solutions using payatrader
Pay in Instalment Full Fee £ 120, Deposite £ , (£ 0/month)
you can pay Staff Training Solutions using payatrader
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