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Course Description

Woman's hand pointing to a board with various documents and multicolored post-it notes

Managing project cost is essential for organizations investing in technology and other projects and initiatives. Estimates are required to make informed decisions about which projects should be funded, changed, postponed or cancelled. During project execution the estimate provides a basis for tracking and controlling project costs. This course ensures that a comprehensive process is used to establish project scope and estimate project cost. Technical professionals are presented with financial concepts that will improve communication and teamwork with project clients, sponsors and the project team. Practice in developing estimates and evaluating potential projects ensures students leave the course ready to apply what they have learned. 


 

Course Outline

  • Cost Management Life Cycle
  • The Major components of project Estimates
  • Degrees of Estimating Quality
  • 5 Factors that influence Estimates
  • Top Down and Bottom Up Estimating
  • Estimating time and money contingency; Too much, too little, just right.
  • Project Evaluation and Approval
  • Project Controls
  • Application - balancing “art” & “science”
  • Estimating and Cost Management Improvement

Learner Outcomes

  • Use a comprehensive and repeatable process to develop detailed project estimates
  • Identifying and validating project requirements
  • Link project selection to corporate strategies with strong business cases
  • Efficiently reach an initial Go No Go decision
  • Develop discrete and range estimates based on project risk exposure
  • Leveraging the Procurement Process: Estimates and contract types with external sources
  • Document project cost estimates and assumptions
  • Understand project evaluation criteria
  • Manage and control project cost accurately and timely
  • Scope changes and its effect on initial estimate
  • Perform Earned Value Analysis, User Friendly cost reports that drive decisions

 

Notes

Learn about more project management topics here

Testimonials

"Very practical and efficient."

Fall 2018 Participant

 

"We learned crystal clear requirements needed for estimating cost."

Fall 2018 Participant

Accrediting Associations

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in

Type
Virtual: Instructor Led
Days
M, W
Time
3:00PM to 6:00PM
Dates
Apr 12, 2021 to Apr 21, 2021
Schedule and Location
Contact Hours
12.0
Course Fee(s)
PMM201 non-credit $995.00
Section Notes

Enrollment Deadline is Monday, April 5, 2021, at 5:00 PM CST. Beyond this date, please call 314-935-4444 to register.

THIS IS A VIRTUAL COURSE--Attendee can participate from a location of their choosing. The live instructor teaches the course and provides the opportunity for remote attendees to participate in discusses and exercises with both in-person and remote attendees. Some courses involve hands-on activities and labs. These activities are performed via a secure cloud-accessible environment. Live online courses are through Zoom (or Webex); Video camera, microphone and speakers are necessary to participate in this class.

CANCELLATION POLICY

A full refund will be given when a registrant cancels more than five (5) business days prior to the start of the class. Cancellations received within 5 business days of the start of the class and no-shows will be billed in full. Another person may be substituted at any time at no additional charge. 

Accrediting Associations
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