Project Cost Estimation and Monitoring

Description

Background

“Failing to plan is planning to fail” 

All project managers should have the desire to plan their projects competently. In order to do so, they need the right set of skills to identify project needs (tangible and intangible), engage suitable stakeholders and arrange the proper coordination and tools for the job. Another skill of equal importance, during project implementation, is the ability control teams and work functions.

Addressed in this extensive Course are the skills and techniques project managers need for cost estimation and project control. Included are methods to control and monitor projects as they progress, making sure the project is a success.

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Benefits

This Course will provide you with:

• The essentials of project cost estimation
• The connection of costs and milestones
• The ability to estimate invisible and probable costs
• The main principles of controlling cost
• The importance of continuous learning and quality improvement in the workplace

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Who Should Attend

This extensive Course is aimed at project managers, finance managers, officers and any person involved in project management. Any leader wanting to increase their project management understanding is welcome to take part in this valuable, comprehensive program.

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Curriculum

Day One

• Introduction to project cost estimation
• Zero based and incremental budgeting exercise
• Stakeholders in cost estimation
• Work analysis and resource estimation

Day Two

• Timelines and milestones
• Direct vs. indirect costs
• Human resource cost estimation
• Inflation rates and long term projects

Day Three

• Contingency funds planning
• Cost Monitoring Plans
• Cost Analysis
• Analysis of cost variances

Day Four

• Mainstreaming Monitoring Plans with Project Plans
• Finance and technical reporting to identify milestones and costs
• Utilization of Results in Project Planning
• Continuous quality improvement using monitoring