PJM214 - Project Budgeting and Estimating

Course Overview

The Project Budgeting and Estimating course explores project cost estimating and a budget planning effort for a project manager as part of the project plan, and then looks at earned value and other controls as the plan unfolds.  The course utilizes individual and small group exercises and case studies to practice utilizing different budgeting and estimating approaches and formulas that include examples applicable to diverse industries and business sizes. The course describes and illustrates processes described by the Project Management Institute’s (PMI) A Guide to the Project Management Body of Knowledge (PMBOK® Guide).

This course addresses the needs of project managers wishing to gain knowledge of commonly accepted best practices for planning and management of project cost planning. Team members and managers looking to improve their project cost estimating, cost budgeting skills, and their understanding of how to deliver their projects within budget should take this course.

It is recommended that students interested in this course have at least 1-3 years of project management or budgeting experience.

Course Outline

What you will learn:

• Application of financial/analytical tools and techniques through the use of highly-relevant hands-on exercises
• Project Cost Planning – processes and methods recommended to plan project cost management
• Cost Estimating – quantities and unit costs combine with effort and durations estimates
• Cost Budgeting – breaking down costs into categories by responsibility, by scope phases and accounting requirements
• Cost Control – execution measures to predict, track and invoice appropriately, as well as address “earned value” issues