Applied Project Control & Cost Management

Rationale

A project with poor control is a project that is out of control. Applied Project Controls training provides you fundamental and practical applications of effective project controls.

Whether you are a project manager, a project controller, or a lead, this comprehensive course packages the things you need to know about project controls in a simple and structured way. It equips you with the right tools and gives you a deeper level of understanding to boost your competency in controlling your projects. This course illustrates how to effectively plan, control, monitor, and forecast a project’s schedule and cost. More importantly, it shows you how to develop the project’s plans and processes so that schedule and cost control are achievable goals.

Closely aligned with the Project Management Institute’s standards and guidelines, Applied Project Controls training looks at basic and advanced methods for keeping your projects in control and provides you strategies that help you determine the best approach on your project.

The course uses a mix of interactive techniques, such as brief presentations by the consultant and the participants and psychometric assessments. The course also features the use of a number of group exercises and case studies followed by plenary discussions.

By the end of the course, participants will be able to:

• Relate organizational strategy to project framework
• Develop a business case that outlines PMO challenges and opportunities
• Evaluate and increase the organization project maturity level
• Create the PMO charter and implement the strategy phases
• Establish a project management methodology and governance
• Assemble the PMO team and establish performance measurements
• Discover the consulting role of PMO in knowledge management

PMO directors and managers, members of project office, project sponsors, functional managers, senior management and all individuals involved in building and managing the Project Management Office (PMO).

• Project Control
• Effective scheduling
• Project Cost Control and management
• Planning
• Coaching
• Project Teamwork

Applied Project Control training is a comprehensive, simple, and step-by-step training program that equips you with the knowledge required to effectively manage and control your projects. What’s so good about this training program is that it captures almost everything you need to know about Project Controls in one shot.

Key Course Coverage

Module 1: Introduction to Project Controls

This module provides you an introduction to project controls and the overall course framework. This module lays the blueprint for the succeeding modules. 

Module 2: Scope Planning

In this module you will learn how to organize and define the total scope of your project, using Work Breakdown Structure or WBS. You learn the rules that you need to follow in designing a well-structured and manageable WBS.

Module 3: Time Planning

In this module you will walk through a step-by-step process in developing a project schedule. This is a very comprehensive and in-depth module on Planning/ Scheduling. It consists of three videos, where you will learn the foundation of building a project schedule.

Module 4: Cost Planning

In this module you will learn how to do cost estimating and budgeting, and how to select Control Accounts at which performance will be created, monitored, and measured. You will also learn how to develop the project measurement baseline.

Module 5: Execution of Project Controls

In this module you will understand the elements of schedule and cost status recording, the steps involved in schedule updating process, and three key components of cost status recording in applying the Earned Value Management technique. By the end of this module, you will have a good understanding of Earned Value Management method and its difference with the Traditional Management methods.

Module 6: Monitoring and Controlling the Performance

In this module, you will be able to answer some of the most important and fundamental questions about the health of your project: How is the project doing with respect to time and/or cost? Are you ahead or behind the schedule? Are you under or over budget? How efficient are you in using time and/or resources?

Module 7: Cost and Schedule Analysis

In this module, you will be able to forecast your project’s future results in terms of cost and schedule. You will be able to answer the questions such as: When is the project likely to finish? What is the project cost at completion? What will the remaining work cost? How efficient should the project use its remaining resources? You will also learn different forecasting methods and how to evaluate the feasibility and accuracy of your forecasts.