Skills for Project Planning/Scheduling and Cost Estimation Planning

Project Scheduling and Cost Planning Skills

Monday 16 Aug 2021

  • Duration: One Week
  • City: London
  • Fees: Classroom: 3850 GBP / Online: 1925 GBP



Accurate cost estimation and project scheduling of a project results in significant savings, and is one of the critical management skills.

In the initial stages and final stages of a project, it is necessary for proper estimation as with early conceptual estimates determines whether a project will be accepted/rejected.

This course will provide the skills for proper project scheduling and the skills required for cost estimation and planning.

Course Objectives:

  • Understanding the techniques in project estimation from initial to final stages
  • Understanding the different types of estimated and the methodology
  • Analysing and identifying the sources of the risk and how to minimize the impact
  • Cost management and integrating approach into a dynamic and manageable model objective
  • Understanding the importance of maintaining continuous project performance and delivery control
  • Accurate estimating and allocating project costs and resources
  • Forecast measurement and controlling project performance
  • How to manage and mitigate project schedule, cost , scope and resource risks

Course Outlines:

Day 1

Basic Information on Project Estimation

  • Introduction to methods and terminology of project management
  • Understanding of the triple constraints (“Time”, “Cost” and “Scope”)
  • Methods of selection of projects
  • Understanding of the scope of project, cost and schedule estimation
  • Planning the project schedule and “Critical Path Method”

Day 2

Cost Budgeting and Control in Projects

  • Understanding the inputs from project management to cost budgeting
  • Difference between “Direct costs” and “Indirect costs” in a project
  • Understanding the planning and scheduling of limited resources
  • How to accelerate the project schedule
  • How does the project schedule fail? And WHY?

Day 3

Risk Management in Projects

  • Identification and analysing risks
  • Concept of “Contingency Reserve”
  • Concept of “PERT” –(Probability and Standard deviation formula)
  • Understanding the risk profiles in network activities
  • How to estimate a project duration?
  • Strategies for overcoming risks in projects

Day 4

Measurement of Project Performance

  • How to balance a project schedule by inserting “Buffers” and without “Buffers”
  • Understanding the comparison of “Unbalanced and Balanced” Project schedules
  • How to measure a project performance on the basis of risk distribution in contracting
  • Estimation of “Actual Progress” and “Working Conditions”
  • How to manage in variable conditions?


Day 5

Recovering of Project Estimates

  • Understanding the concept of “Schedule variance” and “Cost Variance”
  • Estimating and analysing “Progress Control Charts” for a project- “Trend Analysis”
  • Forecasting schedule and cost variance
  • Implementation of cost recovery plan and cost recovery analysis
  • Method and control measures for project recovery
  • Review of the course and “Question and Answer session”
Download WordPress Themes
Download WordPress Themes Free
Download Premium WordPress Themes Free
Free Download WordPress Themes
udemy course download free
download intex firmware
Premium WordPress Themes Download
udemy course download free