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• Scheduling and Cost Control

Scheduling & Cost Control

Course Duration: 4 Days (8:30am-5:00pm)

Professional Development Units (PDU): 28

Continuous Professional Development Points (CPD): 15

You'll Learn How To:

• Use the work breakdown structure to develop a network diagram
• Calculate schedules using PERT/CPM Identify, assign, and tabulate resource - requirements
• Predict costs and work time using specific levels and estimate types
• Develop a time-phased project budget Plan for contingencies and anticipate variations
• Predict future project performance based on historical data
• Monitor changes and close projects on time

PMBOK® Knowledge Areas:

Project Scope Management Project Time Management Project Cost Management Project Risk Management Project Procurement Management

Program Objectives:

Develop effective measures for scheduling and controlling projects as you put the tools of project management to work. Focus on managing the constraints you face in any project: limits on time, human resources, materials, budget, and specifications. Discover proven ways to work within your identified constraints, without letting predefined limits curtail creativity or innovation.

From the opening morning, get hands on experience building project requirements and the work breakdown structure. You will learn a sound, logical framework for scheduling and controlling project activities. You will also master techniques for estimating, forecasting, budgeting, monitoring, controlling, analysing, and reporting costs and interpreting the meaning of earned-value data.

Discover a number of sophisticated tools and techniques that you can use in every type of project to manage time and costs effectively. Hone your skills in individual and small-group exercises and take home a comprehensive toolkit that provides practical field guidance.

Course Outline:

1.  Essential Background Overview of the project management life-cycle: The triple constraints Planning tools Project requirements - a review The work breakdown structure (WBS) - a review Challenges in scheduling and cost control 
2.  Estimating Using estimates for scheduling and cost control: The basic rules of estimating Levels of estimating and estimate types- Top-down vs. bottom-up - Order of magnitude- Budget - Definitive Six estimating methodologies Identifying controllable costs- Resource - Material- Direct - Indirect Planning for risk with contingency Building the project resource pool- Using resources to build estimates - The responsibility matrix Time-controlled estimates Resource-limited estimates
3. Network scheduling: Validating schedules Arrow diagrams and precedence diagrams Basic scheduling and network calculations Advanced precedence relationships and the critical path Alternative constraints Gantt and milestone charts
4.  Baselining the Project: Establishing baselines Creating and using reserves Time and cost trade-offs Using the least-cost method in trade-off analysis Resource levelling Resource smoothing for effective cost control 
5.  Managing Change: The process of control Identifying sources of change Screening change Updating the project plan Communicating change 
6.  Evaluation and Forecasting Causes of variances: Establishing the 'data date' for evaluation Conducting trend analyses Components of the project audit Considerations in establishing a monitoring system Earned value Advanced earned-value forecasting tools 
7.  The Exit Strategy: Steps in completing the project Controlling costs and schedule late in the project Scope verification Contract close-out Administrative closure

Course Schedule and Fees

Prices below are indicative of Public Courses Only. Discounts apply for groups and on site training. Please call ESI to discuss.