Project Time and Cost Management
The Elements of Development and Control of Project Schedules and Budgets

Schedule and budget analysis and control have long been significant elements of project management. Indeed, the identification of project status depends on schedule and budget elements, in addition to elements of adherence to the specifications. However, both schedule and budget elements have traditionally been regulated to functions not directly involved with the day-to-day performance activities of projects. As a result, many project personnel and managers today do not have the basic understanding of schedule and budget development, analysis, and control necessary to adequately carry out the responsibilities of modern project management.

This two-day course covers the processes and techniques necessary to ensure timely completion of projects within approved budgetary constraints. Note: please bring a calculator to this course.

WHO SHOULD ATTEND

This course should be attended by practicing project managers and team members, functional managers, owners, contractors, and suppliers involved with the implementation and control of projects.

COURSE FEATURES

The purpose of this course is to provide the fundamentals of schedule and budget development, analysis, and control as they apply to modern project management in all environments. 

Upon completion of this course, the participants will be able to:
• Calculate project schedules based on work breakdown structure and PERT/ CPM analysis
• Identify, assign, and tabulate resource requirements
• Develop and use time-phased project budgets
• Predict future project performance based on historical data

COURSE OUTLINE

Project Definition
• Time Management Overview
• Activity Definition
• Activity Sequencing
• Network Methods

Project Scheduling
• Activity Estimating
• Estimating Methods
• Schedule Development
• Network Analysis

Project Costs
• Cost Management Overview
• Resource Planning
• Cost Estimating
• Cost Budgeting

Project Control
• Schedule Control
• Cost Control
• Project Status Reporting
• Earned Value

Program Number: PMB004
Duration:  2 days 
Time:   8:00 a.m. - 4:00 p.m.
Earn:   14 PDUs and 1.4 CEUs

KNOWLEDGE AREAS ADDRESSED
This course addresses the following knowledge areas of the Project Management Institute’s A Guide to the Project Management Body of Knowledge:
• Project Time Management
• Project Cost Management