Project Budgeting, Estimation and Cost Saving Techniques

Why Attend

The overall aim of this course is to provide participants with the knowledge and skills needed to estimate project costs and manage project budgets successfully. Participants in this interactive course will learn all the critical tools and techniques required to plan, manage, control, and optimize overall project finances.

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
• Provide 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
• Identify project variance and calculate project performance metrics using earned value analysis
• Apply different cost-saving strategies for projects and implement 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. 

Target Competencies

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

Note

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