Organizations need to know how important it is to assign and schedule projects based on team capacity and to try to keep everyone on the same page. We will teach you the fundamental aspects of project cost estimating by accurately outlining a project’s scope of work which includes tasks, duration, and resources required to forecast a project’s total cost to deliver.
Learning Objectives »
- Identify the elements, methods, and characteristics of
project cost estimating. - Work through the phases of project planning.
- Analyze estimation, budgeting, and resource allocation.
- Apply risk management analysis and strategies.
- Learn the process at project maturity.
Course Agenda
Intro to Project Cost Estimating
- What is Project Cost Estimating
- Elements of Project Cost Estimating
- Sub-elements of Project Cost Estimating
- Common Methods for Estimating Costs
- Steps for Estimating Costs
- Characteristics of Good Cost Estimates
- Causes of Inaccurate Cost Estimates
Project Planning
- Planning and Project Costs
- Options for Estimating Project Costs
- Triple Constraints
- Planning Components
- Project Action Plan
- Work Breakdown Structure
- Inventory Control System
- Responsibility Matrix
- Project Budgeting
- Estimating Time
- Equation for Standard Deviation
- Task Analysis Worksheet
- Resource Allocation and Leveling
Risk Management
- Uncertainty vs. Risk
- Contingency
- Risk Management Tools
- Risk Analysis
- Risk Management Process and Ranking
- Risk Breakdown Structure
- Potential Problems
- Project Turnaround Action Steps
Project Maturity
- Project Life Cycle
- Project Execution
- Collecting and Reporting
- Earned Value Analysis
- Project Review
- Control and Evaluation
