Project Budgeting, Estimation and Cost Saving Techniques - Virtual Learning

Course Methodology

This course relies on individual and group exercises to help participants learn all the critical activities related to project budgeting and cost estimation. It also features several case studies, participant role-plays, and discussions. In addition, it incorporates pre- and post-testing.

Course Objectives

By the end of the course, participants will be able to:

• Explain the project cost management process and develop project cost management plans
• Build a business case and utilize capital budgeting techniques to evaluate long-term investments used in a project
• Develop accurate estimates and identify different methods for estimating a project’s overall costs
• Develop a project cost baseline and a project budget, and explain contingency and management reserves allocated for the project
• Apply different cost-saving strategies for projects and implement continuous improvement concepts in a project's overall finances
• Identify project variance and calculate project performance metrics using earned value analysis

Target Audience

Project managers who seek to estimate costs for the activities of their projects, manage project budgets, and learn the different methods that can help in saving project costs. 

Target Competencies

• Project Management Execution

• Project Planning & Scope Integration

• Project Budgeting & Financial Control

• Cost Estimation & Forecasting Accuracy

• Earned Value Management & Performance Analysis

• Cost Optimization & Efficiency Management

Note

Meirc has been reviewed and approved by the PMI® Authorized Training Partner Program. This course is worth 30 Professional Development Units (PDUs).

This is a hands-on training course using laptops, which will be made available by Meirc Training & Consulting for courses held in the UAE. For courses outside the UAE, participants are required to bring their own laptops