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Project Scheduling and Cost Management - Center for Management Development

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Project Scheduling and Cost Management

"We have time in the schedule, and money is not an issue."
Said NO ONE ever.
Discover how to keep both of these variables
under control with your project.

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This class meets two consecutive days.

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.

PMI logo for REP

  • 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

 

Project scheduling

  • Create a schedule management plan
  • Create a network diagram
    • Precedence diagramming method
    • Dependencies
    • Lead time and lag time
  • Estimating techniques
    • PERT, analogous, parametric, Delphi, bottom up, top down
    • Range estimates and confidence levels
    • Reserves
  • Estimate resources and duration’s
    • Labor equipment, materials, supplies
    • Resource assignment matrix
    • Effort, availability and commitment
  • Create a baseline schedule
    • Critical path method
    • Critical Chain Method
    • Project duration and float
    • Schedule analysis and compression techniques

 

Cost management

  • 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

“This is one of the best sessions I’ve experienced with the Project Management Certification program at CMD.”

LaShonda Garnes, Community Development Manager, WSU – Public Policy & Management Center, Wichita, Kansas

 

“Simple illustrations that were easy to follow and as a result I was able to grasp the concepts taught.

Caroline Omoding, Textron Aviation, Wichita, Kansas

 

“I love taking DeAnn’s courses. She’s very energetic and puts a lot of work into her lessons.  All examples are very relevant and practical. I enjoy the quick pace, and applicable problems. There’s always a good balance of lecture and hands-on activities!  I love the Master of Project Management classes, mainly because of the Instructors! 🙂

Jenna Ginest, Wichita Public Schools, USD 259, Wichita, Kansas

 

“DeAnn always does a great job presenting. She is a great instructor – very knowledgeable and personable.”

Kimberly Gribble, Logistics Coordinator, S&T Telephone, Brewster, Kansas

PMI talent triangle logoTalent 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

 

Materials in this class are based on the A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Fifth Edition, Project Management Institute, Inc., 2013.  

The PMI Registered Education Provider logo, PMI TALENT TRIANGLE, Talent Triangle log, and the Project Management Professional (PMP)  are a registered marks of the Project Management Institute, Inc.

Substitutions are free and must be done prior to the start of the class or certificate program.

Cancellations or rescheduling must be received in writing and full refunds will be given up to four business days prior to the start of class.

Any cancellation or reschedule submitted with three or less business days notice is subject to a $35 charge on 1 or 2 day classes and a $75 charge on certificate programs.  

No refunds after the first day of the class or certificate program.

Let’s explore the possibilities of having this program at your facility.  Pat.McLeod@wichita.edu

Materials in this class are based on the A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Fifth Edition, Project Management Institute, Inc., 2013.  

The PMI Registered Education Provider logo, PMI TALENT TRIANGLE, Talent Triangle log, and the Project Management Professional (PMP)  are a registered marks of the Project Management Institute, Inc.

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