PURPOSE
This project management training course focuses on creating thorough, trustworthy plans with time and cost estimates that provide the project’s owner or sponsor high levels of project delivery confidence. Plans must also be realistic and take into account any hazards that may arise throughout and after the project lifespan.
The decision to move forward with a project is based on preliminary, conceptually high-level estimates. These, however, can have a wide range, therefore more precise predictions must serve as the foundation for the schedule forecasts and cash flow calculations.
COURSE OBJECTIVES
By the end of the course, participants should be able to:
Utilizing the right resource management strategies, you may confidently anticipate project time and cost.
Determine, evaluate, and manage risks related to budget, time, scope, and resources.
Recognize project control and performance
Evaluating, predicting, and managing project performance using earned value methodologies
Create a recovery plan for the project in case of budget and schedule overruns.
DURATION:5 Days
TARGET AUDIENCE
Project managers, cost estimators, project schedulers, project designers, project planners, contract specialists, project procurement and purchasing staff, and project control and business services specialists who are in charge of creating cost and schedule estimates and project proposals in client and contracting companies are examples of people with a project role.
Senior managers who desire to comprehend project management best practices
Anyone who wants to learn more about estimating and control in a project environment should read this.
COURSE CONTENT
TOPIC 1: Foundations of Project Estimating
Basic definitions of project management
Time, cost, and scope restrictions
Methods for selecting projects
Setting the project’s scope
Cost budgeting and control, cost estimation, and time management
Managing project schedules with the Critical Path Method
TOPIC 2: Developing Project Budget & Schedule Control
Requirements for resources
Project costs, direct and indirect
Scheduling and preparing scarce resources
Possibilities for speeding up the schedule
How can I crash the schedule?
TOPIC 3: Risk Management
Identification, analysis, and management of risks
Formulas for probability, standard deviation, and contingency reserve
characteristics of network activity danger
Application: Predicting the length of a project
Managing project risk
TOPIC 4: Evaluating the Success of the Project
Analyzing crucial chains and using buffers
Scheduling contrast between imbalanced and balanced
Evaluating the timeliness of planned progress
Distribution of risk in contracting
Current status and working circumstances
Managing a range of circumstances
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TOPIC 5: Managing and Recovering Project Estimates
Cost and schedule variations
Progress tracking graphs and trend analysis
Forecasting schedule and cost variance
Analysis of the schedule and cost recovery
Timetable and cost recovery strategy
Controls and baselines for project recovery