Project Schedule And Cost Management

This course presents tools and techniques of estimating, tracking, controlling and managing project schedules and costs. You will learn both basic and advanced methods. Scheduling techniques include Gantt and milestone charts as well as network diagrams such as AOA (activity on arrow) and AON (activity on node). Cost management methods include earned value analysis, among others.

Seminar Outline

Background
The four-phase project life cycle
Triple constraints
Challenges in schedule/cost management

Essentials of Schedule and Cost Management
Five key steps to on-time project completion
Three processes essential for effective cost management
Basic rules of schedule/cost estimating
Four types of estimates

Schedule Estimates
Seven reasons why many schedules overrun
Essential inputs to develop schedules that will be met
Defining the scope of work for tasks
Network scheduling techniques: ADM, PDM, CPM and PERT
Four key methods to estimate task durations
Planning for risk with contingency

Schedule Control
Establishing schedule baseline
Three simple tools to communicate schedules to management
Control systems to handle schedule changes

Cost Estimates
Why projects fail on cost
Tools and techniques for cost estimating
Improving accuracy of cost estimates
Estimating resource needs: Resource loading
Common heuristic methods for resource leveling

Cost Control
Establishing cost baseline
Three perceptions of cost: Project manager, accountant, comptroller
Monitoring cost performance and detecting variance: Histograms and S-curves
Tools to communicate cost information
Speeding the cycle of expenses, invoicing and payments to enhance cash flow

Project Evaluation and Forecasting
Reports on progress, status, variance, trend and forecast
"Earned value" as a performance measurement
Searching out the whys for variances
Handling change orders
Predicting project completion schedule and cost
Top 10 list for effective project control