Course description
Not only is effective project and program management the result of best-practice project management techniques, but it is also the result of attention to the associated project financials. This course for PMO project managers is designed to increase the project manager’s level of understanding of project costs and the need for detailed cost management. This course will cover basic project value, financing, and cost management throughout the project life cycle.
Simulating a background for a project based on product release, the content will cover the financial life cycle of proposal (business case and value statement), budget, funds allocation and commitments, cost tracking, change impact analysis, and governance reporting forecasting stages. This course will show you how cost ties in to better go-to-market readiness, resource planning, and control.
Upcoming start dates
Training content
Module 1: Project Cost Management
- Metrics for Success
- Life Cycle Cost Management
- Project Cost Management
- Depreciation
- Exercise: Depreciation Calculations
Module 2: Project Planning and Estimating
- Risk — Cost Considerations Through the PM Life Cycle
- Present Value (PV) and Net Present Value (NPV)
- Exercise: Make or Buy Financial Analysis
- Project Life Cycle — Phases and Gates
- Risk Value
- Financial Decision Analysis
- Exercise: Project Recommendation
- Monte Carlo Simulation
- Sensitivity Analysis
- Cost Estimating Techniques
- Integrated Project Scope Statement
- Planning Project Cost
- Work Breakdown Structure
- Project Estimating Techniques
- Task Estimating
- Estimating Reserve Management Scenarios
- Value Analysis
- Resource Leveling
- Exercise: Project Estimating, Cumulative and Noncumulative Cost Curves
Module 3: Project Tracking and Forecasting
- Project Cost Management Reporting
- Performance Measurement
- Earned Value Management (EVM)
- Cumulative Cost Curves
- Cost and Schedule Forecasting with EVM
- Exercise: Calculate the EAC and ETC
- Baselines
Costs
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Certification / Credits
- Define the project governance throughout the life cycle (agile and waterfall) stages and understand the project’s constraints flexibility matrix.
- Understand how the application of the various financial evaluation models, including NPV and risk-based estimating methods, can influence your total project management approach used in managing margins and cash flows throughout the project execution and go-to-market various life cycle phases.
- Build the work breakdown structure at the right level of detail to support optimum project cost planning and control.
- Build the project resource spend plan.
- Develop a detailed understanding of the importance of cost management to project success by applying the sound principles of project financial accounting.
- Measure the impact of scope changes and other risk factors to the value proposition of the project.
- Establish tighter control of the project budget though reserve and contingency management techniques.
- Build on past performance as the basis for future forecast and cost variance analysis.
- Apply lessons learned to the project cost management life cycle.
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CORPORATE EDUCATION GROUP
Corporate Education Group (CEG) is a premier provider of talent development solutions. Since 1987, CEG has collaborated with clients to unlock business value by delivering talent strategies and development solutions that align with targeted business goals to make your workforce...