This class meets two consecutive days
November 15 & 16, 2018 — This class will be revised to the PMBOK® Guide 6th Edition by 4-1-18
Cost management and a well-constructed schedule are the backbone of any successful project. A project’s schedule brings the entire picture of the project life-cycle into focus, giving clear and concise expectations of project milestones and completion date. Managing costs is more than tracking expenses; it considers how much work was done for the amount spent. Hands-on exercises are used to help you understand the Project Management Institute, Inc. processes for project scheduling and cost management and the principles and techniques they use. This two-day program will equip you with the critical, working knowledge you need to put together winning projects that meet the constraints of your time and budget.
- Understand the importance of a good work breakdown structure in managing cost and schedule.
- Use Precedence Diagramming Method to develop a network diagram.
- Practice estimating techniques that can help you create a realistic schedule and budget.
- Use Critical Path Method to calculate project duration and flexibility.
- Understand the importance of a time-phased budget and how to create it.
- Understand techniques for collecting actual performance data and the impact on reports.
- Calculate Earned Value variance and performance index for schedule and cost.
- Use these calculations to forecast end of project performance.
- Understand the trade-offs between schedule, cost and scope.
Overview of Project Management Basics
- PMI® and the PMBOK® Guide processes
- The project charter and stakeholder expectations
- Competing demands – scope, schedule, cost
- Create a schedule management plan
- Create a network diagram
- Precedence Diagramming Method
- Lead time and lag time
- Estimating techniques
- PERT, analogous, parametric, Delphi, bottom up, top down
- Range estimates and confidence levels
- Estimate resources and duration’s
- Labor Equipment, Materials, Supplies
- Resource Assignment Matrix
- Effort, availability and commitment
- Create a baseline schedule
- Critical Path Method
- Critical Chan Method
- Project duration and float
- Schedule analysis and compression techniques
- Create a cost management plan
- Estimate costs
- Create a time-phased budget
Controlling Schedule and Cost
- Compare actual performance to planned
- Collect actuals
- Earned Value Management
- Forecast and trend analysis
- Manage changes
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Fifth Edition, Management Institute, Inc. 2013
Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI.
Talent Triangle values:
- PMP/PgMP: 12 Technical 0 Leadership 0 Strategic
- PMI-ACP: 1 Technical 0 Leadership 0 Strategic
- PMI-SP: 7 Technical 0 Leadership 0 Strategic
- PMI-RMP: 0 Technical 0 Leadership 0 Strategic
- PfMP: 0 Technical 0 Leadership 0 Strategic
- PMI-PBA: 0 Technical 0 Leadership 0 Strategic