Skills for Project Planning/Scheduling and Cost Estimation Planning

Project Scheduling and Cost Planning Skills

Sunday 22 Nov 2020

  • Duration: One Week
  • City: Dubai
  • Fees: 3950 GBP

Introduction:

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”
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Registration Request

  • https://www.lpcentre.com/courses/project-scheduling-and-cost-planning-skills-36/
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