Master Project Costing & Analysis Control in 5 Days

Course Description

This comprehensive 5-day course equips participants with advanced skills in project costing and analysis control. Attendees will learn essential techniques for cost estimation, budgeting, and financial management in projects. The course covers risk assessment, earned value analysis, and performance measurement, providing a solid foundation for effective project financial control.

Learning Objectives

• Develop accurate project cost estimates using various techniques
• Create and manage project budgets effectively
• Implement cost control measures and perform variance analysis
• Apply earned value management principles to track project performance
• Assess and mitigate financial risks in projects
• Utilize financial analysis tools for informed decision-making

Course Modules

Day 1: Fundamentals of Project Costing

• Introduction to project cost management
• Cost estimation techniques and tools
• Developing work breakdown structures (WBS)
• Activity-based costing in projects

Day 2: Budgeting and Cost Planning

• Creating project budgets
• Resource allocation and optimization
• Cash flow forecasting and management
• Budget baseline development

Day 3: Cost Control and Performance Measurement

• Implementing cost control systems
• Earned Value Management (EVM) principles
• Cost and schedule variance analysis
• Performance reporting and corrective actions

Day 4: Financial Risk Management

• Identifying and assessing financial risks
• Risk mitigation strategies
• Contingency planning and management reserves
• Monte Carlo simulation for cost risk analysis

Day 5: Advanced Topics and Integration

• Life cycle costing and value engineering
• Financial analysis for project selection
• Cost optimization techniques
• Integrating cost management with project management processes

Practical Wins for Participants

• Ability to create accurate cost estimates and budgets for projects
• Skills to implement effective cost control measures and track project performance
• Techniques to assess and mitigate financial risks in projects
• Proficiency in using financial analysis tools for project decision-making