Projects Cost Management, Estimating, Budgeting and Control.

Learn how to estimate costs for any project, how to determine budget and how to use Earned Value Management tools. 3 PDU

What you will learn

How to estimate costs for a project

How to determine project budget

How to control project costs

How to use Earned Value Management indicators


This course consist of two parts. The fist part is a theoretical explanation based on the cost management chapter from PMBOK (the book that is used for PMP certificate) and the second part is a practical example about how to apply the theoretical part..

Both parts talk about three main topics:

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  1. How to estimate costs for activities in the project, which also include:
    • Types of Costs
    • Estimating costs tools and techniques.
    • Handling Risk Reserves costs
    • Cost of Quality
    • Documenting the costs basis of estimates
  2. How to determine project budget, which also include:
    • Determine cost baseline
    • Estimate funding requirements
    • Determine project budget
  3. How to Control Project Costs, through:
    • Using Earned Value Management Techniques to assess project performance
    • Calculating CPI, SPI, CV, SV
    • Forecasting project costs y using Earned Value Management Tools




Theoritical Part

What is Cost Management?
Direct and Indirect Costs
Analogous Estimating
Parametric Estimation
Three-Point Estimating
Reserve Analysis
Cost Estimates and Basis of Estimates
Cost Baseline
Funding Requirements
Earned Value Formulas
Project Status
Earned Value Example
Forecasting Three Scenarios
Forecasting Example
To-Complete-Performance-Index TCPI
Performance Reviews

Project Simulation and Detailed Example

Direct and Indirect Costs
Cost Estimates and Reserve Analysis
Cost Baseline and Project Budget
Basis of Estimate
Funding Requirements
Earned Value Calculation

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