Scheduling and Cost Control
Develop effective measures and skills for scheduling and controlling projects.
Develop effective measures for scheduling and controlling projects as you put the tools of project management to work. In this course you will focus on managing the constraints you face in any project: limits on time, human resources, materials, budget, and specifications. Discover proven ways to work within the identified constraints, without letting predefined limits curtail creativity or innovation.
From the opening morning, you will get hands-on experience, practising your skills in building project requirements and the work breakdown structure. You will learn a sound, logical framework for scheduling and controlling project activities. And you’ll master techniques for estimating, forecasting, budgeting, monitoring, controlling, analysing, and reporting costs and interpreting the meaning of earned-value data.
Discover a number of sophisticated tools and techniques that can be used to manage time and costs effectively on every type of project. This is one of the programme’s most important courses; also with regard to a possible PMP certification.
What topics will be covered in the course?
- Essential Background
- Overview of the project management life-cycle
- The triple constraints
- Planning tools
- Project requirements - a review
- The work breakdown structure (WBS) - a review
- Challenges in scheduling and cost control
- Resource Allocation and Estimating
- Using estimates for scheduling and cost control
- The basic rules of estimating
- Levels of estimating and estimate types
- Top-down vs. bottom-up
- Order of magnitude
- Four estimating methodologies
- Identifying controllable costs
- Planning for risk with contingency
- Building the project resource pool
- Using resources to build estimates
- The responsibility matrix
- Time-controlled estimates
- Resource-limited estimates
- Network scheduling
- Validating schedules
- Arrow diagrams and precedence diagrams
- Basic scheduling and network calculations
- Advanced precedence relationships and the critical path
- Alternative constraints
- Gantt and milestone charts
- The Baseline
- Establishing baselines
- Understanding types of baselines
- Time-phased distribution of costs
- Cumulative cost curves
- Managing Change within the Project
- The process of control
- Identifying sources of change
- Screening change
- Updating the project plan
- Communicating change
- Evaluation and Forecasting
- Causes of variances
- Establishing the "data date" for evaluation
- Controlling costs and schedule late in the project
- Components of the project audit
- Considerations in establishing a monitoring system
- Earned value
- Advanced earned-value forecasting tools
- The Exit Strategy
- Steps in completing the project
- Scope verification
- Contract close-out
- Administrative closure
What will I learn?
- Use the work breakdown structure to develop a network diagram
- Calculate schedules using PERT/CPM
- Identify, assign, and tabulate resource requirements
- Predict costs and work time using specific levels and estimate types
- Plan for contingencies and anticipate variations
- Predict future project performance based on historical data
- Monitor changes and close projects on time
Is this course for me?
This course is suitable for all Project Managers, particularly those who want to better control time and resource constraints. This is one of ESI’s more advanced courses. It is especially helpful to those who already have a solid grounding in Project Management and want to learn more advanced project tools to take their skills to a new level. This is a key course for those looking to become PMP certified.
What is included in the price?
ESI’s Earned Value Management Wheel
Lunch, snacks, and refreshments on all course days
Online tools and templates
Individual training consultation before and after the course
Does this course help me towards certification/accreditation?
At the end of the course you will get the chance to verify your level of knowledge in a test. You will receive a certificate upon successful participation. This course is also eligible if you aim to achieve an Associate’s or Master’s Certificate from George Washington University. Learn more.
Available as customised in-house training
Let us bring our classes to you! Our in-house training are ideal for groups of 10 or more people. We can provide Off-the-shelf training in the form of our classic courses, or we can provide bespoke training, tailored to your organisational goals and objectives.