Project Budgeting, Estimation and Cost Saving Techniques

Course Methodology

This course relies on the use of individual and group exercises aimed at helping participants learn all the key activities related to project budgeting and cost estimation. The course also features the use of a number of case studies and role plays by participants followed by discussions. In addition, this course 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
• Develop 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 project budget and explain contingency and management reserves allocated for the project
• Identify project variance and calculate project performance metrics using earned value analysis
• Identify different cost-saving strategies for projects and apply continuous improvement concepts on project overall finances

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

Target Competencies

• Project management
• Project planning
• Budgeting
• Cost estimating
• Earned value analysis
• Cost savings