Cost Management

PMI® Project Management Online  Module – Cost Management

This module addresses the Cost Management Knowledge area covering the planning, estimating the cost and ending up with the project’s budget. This course has been fully accredited by the Project Management Institute (PMI).

 

What Are the Benefits of this Module?

Project Cost Management includes the process involved in Planning, Estimating, Budgeting, Financing, Funding, Managing and Controlling Costs so that the project can be completed within the approved budget. Understanding how to keep within budget is critical to a project manager’s success. Cost overruns are a common issue worldwide, and keeping these controlled and managed make enormous differences organisationally.

 

What are the Learning Outcomes?

This module covers the Project Cost Management Knowledge Area and its processes that reside as part of the Planning Process Group. The Control Costs process is dealt with in the Monitoring and Controlling part 2 module.  It is based upon Chapter Seven of the PMBOK® Guide.

By the end of this module you will be able to explain:

• Demonstrate an understanding of the Project Time Management Knowledge Area.
• Develop a Project Schedule by:
  1. Defining the Project Activities (breakdown of the WBS into Activities).
  2. Sequencing those Activities.
  3. Estimating the Resources required to conduct those Activities.
  4. Estimating Activity Durations.
  5. Generating the Project Schedule.
• Understand how to identify and calculate the Project’s Critical Path.
• Understand the different Estimating Techniques.

 

What Content is Covered?

The following content is covered within this course:

• Project Cost Management.
• Planning Cost Management.
• Estimating Costs.
• Determining the budget.

 

Who Should Attend?

This series of short courses designed to up-skill or refresh knowledge in specific Project Management subjects. Each short course earns seven Project Management Institute (PMI) PDU points. Whether you are looking to update your knowledge and skills or to increase your competence in a wider context, this program gives great professional benefit.

Gottfredson and Mosher (2012) identified 5 moments of learning need:

1. Learning for the first time.
2. Learning more.
3. Remembering and applying learning.
4. Learning when things change.
5. Learning when things go wrong.

These short courses provide a perfect way of enabling you or your teams to access bite-sized chunks of information that is applicable in each of the 5 moments of learning need.

 

What are the Course Delivery Options?

Online

 

Is this accredited by the Project Management Institute?

Yes – fully.