Project : Managing Project Cost Management

The success of any business project will always be measured in its profitability. Or at least, its overall cost-effectiveness. Even when a project doesn’t exclusively target improved revenues, effective budgeting will determine its viability. Until a project reaches completion and/or fruition, it represents a cost the business must bear. If the total project cost exceeds the value of the outcome, the project fails. Even if the primary goal of the project is reached, excessive spending may still result in a negative outcome for the business. As such, project cost management can be just as critical as the very viability of the project/idea itself.

Discover what it takes to become a confident and capable project cost manager with this targeted tutorial. Learn how to determine an accurate initial budget, breaking down all key project costs and evaluating expense. Explore human resource costs, administration costs and how to go about accurate cost estimations. Find out how to evaluate and create accurate project budgets from scratch, by working effectively with the data and information available at its inception.

Objectives

• Identify the costs involved in managing a project
• Outline effective cost management techniques

Programme Content

Topics

• Determining the Initial Budget
• Breaking down Project Costs
• Human Resource Costs
• Administrative Costs
• Resource or Project Costs
• Planning the Project Resources
• Resource Planning Inputs
• Expert Judgment
• Identifying Alternative Solutions
• Cost Estimating
• The Cost Estimating Inputs
• Estimating Activity Durations
• Project Costs Estimates
• Developing the Project Budget
• Creating the Cost Baseline

Course Benefits

• Full Tutor Support
• Self paced, no fixed schedules
• Available to students anywhere in the world
• 24/7 Access to the LMS ( Learning Management System )
• Easy to understand quality e-learning study materials

Course Material

All course materials are included in the course price. All your study material will be available on our learning management system for which you will get access once you are enrolled. The material can be downloaded and printed as well.

Our distance learning course materials are specially written for home study and contain a wealth of knowledge in easy to understand language. We use variety of media to help you learn. Your course may use any of the following different media which you can use from home or where ever you choose to study:

• Online course materials
• Question papers
• Additional Supporting Material
• Useful Links

Course assessment

You will be continually assessed throughout the course. Your assignment will be marked by your tutor and independently moderated. The feedback on your assignment will then be sent to you. On receipt of this, you may wish to contact your tutor to discuss the feedback.

Tutor Support

When you enrol on a course with Brentwood Open Learning College you are allocated your personal tutor. Tutor’s help and support will be available throughout your studies with the college. He/she will assess your work and will provide you with regular feedback on your progress.

• Project managers and co workers looking to develop their CPD
• Business owners, managers and entrepreneurs
• Confident, self motivated and passionate candidates
• Entrepreneurs planning to start their own business.
• Candidates seeking to expand their career opportunities
• Individuals looking to enhance their CVs

No prior knowledge is required to take this unit.

*Note: This CPD Unit is offered on special discounted price on REED only and does not include awarding body accreditation charges. At the end of the unit, learner can claim CPD Accredited certificate by paying £35 accreditation fee and postal charges (£9 for UK students, £15 for outside UK).

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