Corporate / Group Training

Fundamentals of Capital Project Cost Control - In House

Procept Associates Ltd., In Worldwide
1 day
Next course start
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1 day
Next course start
Start anytime See details
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Course description

Fundamentals of Capital Project Cost Control - In House

How do you control a project? You must define the scope; budget and plan the execution; execute per the plan; control the scope; and manage the budget variance. It looks simple, doesn’t it? Well, if it were that simple, then why do we always have trouble controlling our projects?

Scope is the single most important variable in defining and controlling the cost of a project. This one-day seminar will teach the fundamental techniques for defining the scope, developing project schedules and budgets, tracking and controlling execution, and managing any budget variances. Using exercises and discussion, the workshop will address:

  • Scope/Schedule/Budget/Resources Relationship
  • Scope Development including work breakdown structures
  • Project Cost Control
  • Forecasting and Reporting including earned value analysis
  • Change Management
  • Estimating Methods
  • Project Risk Analysis
  • Earned Value Analysis for Project Tracking

Upcoming start dates

1 start date available

Start anytime

  • On-site
  • Worldwide

Who should attend?

This course is designed for those involved in managing the design and/or construction of projects such as engineers, technologists and technicians, tradesmen, maintenance personnel, and other personnel from industrial users, utilities, municipalities, educational institutions, commercial facilities, consulting engineering firms and manufacturers. Topics covered in this course are also of great value to managers and other non-technical project personnel.


There is no enforced prerequisite for this course; however, it is recommended that participants complete Fundamentals of Industrial Project Management first or have several years of hands-on industrial project management experience before taking this course.

Training content

  • Introduction
  • The Original Plan
    • Project Life Cycle
    • Decision Making
    • Scope
    • Point Cloud
    • Budgets
    • Work Breakdown Structure
    • Risk Analysis & Monte Carlo
    • Schedule
    • Procurement
    • Case Study: Never Ending Scope Creep
  • Estimating, Contingency, Escalation, Freight
    • The Current State
    • Earned Value Analysis
    • EV Exercise
    • Project Control
  • The Forecast
    • Reporting & Forecasting
    • Case study: Escalation
    • Change Management & Close
  • Conclusion
    • Discussion of lessons learned

Certification / Credits

Credits: 7 PDUs/CEUs

Learning Objectives

Participants will gain practical skills to:

  • maintain project cost control through an understanding of the critical relationships between scope, schedule, budget, and resources.
  • build a list of project risks.
  • evaluate and prioritize your project risk issues.
  • develop a factored estimate for an understanding of the process.
  • analyze your project status using earned value analysis.
  • provide project leadership by accessing project control problems and using your newly acquired knowledge to determine the best course of action for the project.
  • advance your career by having the tools to better manage your projects.
  • stand out from your peers by having successful projects.

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Procept Associates Ltd.

Procept Associates Ltd.

Since 1963, Procept (and its subsidiaries) have trained over 1 million people from over 17,000 organizations. We focus on developing competencies in project management, change management, agile management, leadership, business analysis, IT and data management, as well as soft skill...

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