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Project Schedule and Cost Management
About course

The project schedule and budget are key elements of the project management plan. Successful project completion is unlikely unless a complete and correct schedule and budget are developed and then managed during project execution. This 2-day course covers how to decompose the Work Breakdown Structure into activities, along with methods for estimating resource requirements and tasks duration.  Attendees will learn how to sequence project tasks to develop the project network diagram and conduct critical path method analysis to determine the project completion date and critical path. This course will also cover resource planning, estimating techniques and the steps for project budget development. Also discussed are methods to control the project schedule and budget and forecasting the final project cost and completion date using earned value and earned schedule. This course teaches attendees the processes and techniques necessary for schedule and cost management to ensure timely completion of projects within the approved budget.

Who should attend

This course will benefit project managers, project team members, functional managers, owners, contractors, and suppliers involved with preparing and controlling the project schedule, estimate, and budget.

Course features

Upon completion of this course, participants will be able to:

  • Define and sequence project tasks using the precedence diagramming method
  • Estimate resources, duration, and cost for project tasks
  • Develop a project schedule using the Critical Path Method (CPM)
  • Develop a time-phased project budget
  • Determine project status and forecast project performance using earned value and earned schedule
Course outline

Defining & Sequencing Project Activities

  • Schedule Management Basic Concepts

  • Define Activities

  • Sequence Activities using Task Relationships

Resource-Duration Estimating & Schedule Development

  • Estimate Activity Resources

  • Estimate Activity Durations

  • Schedule Development Methodologies

  • Schedule Display Types

  • Critical Path Method Calculations

Estimating & Budgeting Project Costs

  • Introduction to Cost Management

  • Methods for Estimating Cost

  • Develop Cost Contingency

  • Determine Project Budget

Controlling Cost and Schedule

  • Elements of Schedule & Cost Control

  • Progressing Techniques

  • Variance Analysis

  • Earned Value Management

  • Forecasting Project Costs

  • Earned Schedule

  • Present Value Analysis

Course information
Duration: 14 hours
Earn: 14 PDUs
Delivery Method: Traditional Classroom
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, (PMBOK® Guide)
Sixth Edition:

  • Project Cost Management
  • Project Schedule Management