Project Cost & Budget Management Certification

Module 1: Introduction to Project Cost Management

• Project cost management concepts
• Importance of cost management
• Cost management lifecycle
• Project financial objectives
• Cost management responsibilities
• Cost management terminology

Module 2: Project Cost Management Framework

• Cost planning
• Cost estimation
• Budget development
• Cost baselines
• Cost monitoring
• Cost control

Module 3: Understanding Project Costs

• Direct costs
• Indirect costs
• Fixed costs
• Variable costs
• Recurring costs
• Non-recurring costs

Module 4: Work Breakdown Structure and Cost Planning

• WBS fundamentals
• Work packages
• Cost accounts
• Activity-level costs
• Cost allocation
• Linking scope and cost

Module 5: Project Cost Estimation

• Cost estimation process
• Estimation inputs
• Cost categories
• Resource requirements
• Estimation assumptions
• Estimation accuracy

Module 6: Cost Estimation Techniques

• Analogous estimating
• Parametric estimating
• Bottom-up estimating
• Three-point estimating
• Expert judgement
• Selecting estimation methods

Module 7: Resource Cost Estimation

• Labour costs
• Material costs
• Equipment costs
• External resources
• Resource rates
• Calculating resource costs

Module 8: Contingency and Management Reserves

• Cost uncertainty
• Contingency reserves
• Management reserves
• Risk-based reserves
• Reserve estimation
• Reserve monitoring

Module 9: Project Budget Development

• Budgeting fundamentals
• Aggregating estimated costs
• Budget allocation
• Funding requirements
• Budget approval
• Budget documentation

Module 10: Cost Baseline Management

• Cost baseline concepts
• Time-phased budgets
• Establishing cost baselines
• Baseline approval
• Baseline maintenance
• Baseline changes

Module 11: Project Cash Flow Management

• Cash flow concepts
• Cash inflows and outflows
• Payment schedules
• Cash flow forecasting
• Funding timing
• Cash flow monitoring

Module 12: Cost Control

• Cost control process
• Actual expenditure
• Budget consumption
• Cost monitoring
• Cost deviations
• Corrective actions

Module 13: Planned Value and Earned Value

• Planned Value
• Earned Value
• Actual Cost
• Performance measurement
• Budgeted work
• Interpreting project performance

Module 14: Cost Variance Analysis

• Cost Variance
• Planned versus actual costs
• Variance identification
• Positive and negative variances
• Root cause analysis
• Variance trends

Module 15: Cost Performance Index

• CPI concepts
• CPI calculation
• Cost efficiency
• Interpreting CPI values
• Performance trends
• Using CPI for decisions

Module 16: Project Cost Forecasting

• Forecasting concepts
• Estimate at Completion
• Estimate to Complete
• Variance at Completion
• Forecast assumptions
• Updating cost forecasts

Module 17: Budget Change Management

• Budget change requests
• Cost impact assessment
• Scope changes
• Schedule impacts
• Budget adjustments
• Change tracking

Module 18: Procurement and Vendor Costs

• Procurement budgets
• Supplier costs
• Contract costs
• Vendor payments
• Purchase commitments
• Cost monitoring

Module 19: Project Financial Risk Management

• Financial risk identification
• Cost uncertainty
• Price fluctuations
• Resource cost risks
• Budget overruns
• Cost risk responses

Module 20: Cost Reporting and Dashboards

• Cost reports
• Budget status reports
• Variance reports
• Cost forecasts
• Financial dashboards
• Management reporting

Module 21: Cost Optimisation

• Cost optimisation concepts
• Identifying cost-saving opportunities
• Resource optimisation
• Reducing unnecessary expenditure
• Value considerations
• Maintaining project objectives

Module 22: Building an Effective Project Cost Control System

• Cost management processes
• Roles and responsibilities
• Cost tracking procedures
• Performance indicators
• Reporting processes
• Continuous cost improvement