HOW THIS COURSE WILL HELP ME?
This online course is ideal for new or experienced project engineers or project managers to supplement hands-on experience with more formal methodologies. Our program for project cost management involves the processes to develop, budgets and control costs throughout the project.
WHAT YOU WILL LEARN
The ability to manage project costs is vital for the project manager. The skills that you learn in this unit will prepare you for project management cost processes and documentation and be accountable for the cost performance of your project.
The process of managing costs will vary according to the phase of the project. For example, managing costs in the planning stages involves a detailed analysis of the labour needed to accomplish the project. By breaking this down into components, it can be costed. You will also learn the five most commonly used estimation techniques so that you can forecast costs accurately. Next, you will learn how to create a budget that includes contingencies for the ‘unknown unknowns’ and ‘known unknowns’.
Once a project has commenced, you will need to track and report on the cost performance of the project using Earned Value Management techniques and formulae. You will find out how to determine if your cost blowout is significant and needs attention, and some common causes and corrective actions. Finally, you will learn how to plan and execute your project’s closure and review the project’s success.
- Online, live webinar or face to face
- Online version is 100% online, self-paced with text, pictures, graphics, videos and quizzes
- Approximate duration 5 hours with 12 months online access
- A full PDF Course Manual is provided for your records
- Weekly Q&A video calls are available on demand
- Unlimited email support
- Certificate of Completion issued by AM Project Partners which will be a valuable record to document your professional development efforts.
- This course can count towards your annual professional development efforts as required by certification bodies such as PMI. A PDU Statement is available on request.
- This course is not accredited under the VET Framework however, the course content complies with the requirements of the VET Unit of Competency Number BSBPMG533 and forms part of the Diploma in Project Management BSB50820, provided an additional assessment is completed by the student (attracts additional cost).
- Contact us if you are interested in getting your BSB50820 Diploma in Project Management.
PDF Course Script for download in the last chapter