Description

This course focuses on how to monitor and control project progress and cost aspects. The course will introduce the Earned Value Management (EVM), one other very powerful tool that helps in the analysis of project budget performance, methodology used internationally for integrating scope, schedule and resources and for objectively measuring project performance and progress. The project budget is a financial plan for all project expenditures (cost). Cost control process should monitor the project progress and report any deviation to the budget cost. As there is no simple way of doing cost control where we can use smart techniques without expensive tools or software. EVM can calculate a Cost Variance (CV), which is the difference between the value of the work completed and the amount of funds expended to accomplish that work. This will tell you the magnitude of the over- or under-run or if you are on budget. Success in project budget management depends on, amongst other things, the creation of a comprehensive, consistent, and reliable project budget.

Program

MBA

Objectives

• At the end of this course you can expect to: • Identify and document project requirements. • Facilitate the process of identifying and estimating project activities. • Manage the project cost process, which includes cost estimates, cost tracking, cost control, variance analysis, project effort control, and assessing project progress. • Predict future project performance based on historical data. • Monitor changes and closes out projects on time. • Correcting schedule deviations. • Monitor and control the project schedule, identify, assign and tabulate resource requirements.