PLANNING SCHEDULING & COST CONTROL IN PROJECT MANAGEMENT

OVERVIEW

Course Description

All types of projects have three performance dimensions: technical specifications, time and budget. A wide range of inputs from project team with complementary professional skills is required for managing the diverse project activities and varied inputs, and to ensure project completion within budget and on time.

Good project management professionals are actually in short supply and there is a growing recognition of the consequences of the lack of skills needed to plan, manage and control projects. This intensive training program is designed to provide the participants with three essential project management competencies: project planning, scheduling, and cost control. Training should be conducted in an interactive environment through relevant case studies, group practice sessions and computer applications.

Who Should Attend?

This course is valuable for professionals new to project management or those who wish to refresh their knowledge of project management best practices. The program is beneficial for project management staff from all industries and all disciplines including engineering, research and development, information technology, construction, maintenance and overhauls, and all long-term service projects.

Course Objectives

This program is designed to provide the participants with the knowledge and skills necessary to:

  • Recognize and effectively manage the project life cycle
  • Analyze the work breakdown structure (WBS)
  • Conduct necessary duration and cost estimates
  • Perform activity scheduling
  • Identify, assign, and tabulate resource requirements with relevant costing
  • Calculate earned values and anticipate variations
  • Predict future project performance

COURSE OUTLINE

Day 01
    • An overview of project management
    • Dimensions of project management
    • Project life cycle
    • Competencies needed for project management
    • Project scope definition and documentation
    • Project economic and feasibility analysis
Day 02
    • Work breakdown structure (WBS)
    • Estimating costs and durations
    • Allocating responsibilities
    • Project scheduling
    • Network development and calculations
Day  03
    • Baselining project plan
    • Crashing the critical path
    • Leveraging critical chain
    • Identifying sources of change, screening and communicating change
    • Updating the project plan
    • Software applications for project planning and control
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Day 04
    • Resource allocation and leveling
    • Project cash flow
    • Earned value analysis and project progress indicators
    • Managing project procurement
    • Developing and leading project team
    • Project documentation
Day  05
    • Tracking cash flow
    • Assessing and summarizing project status
    • Performing Earned Value Analysis
    • Reconciling and addressing project issues
    • Types and causes of variances
    • Controlling costs and schedule
    • Components of the project audit
    • Advanced earned-value forecasting tools