Project Management - How To Cost Management Plan

Cost management is a critical aspect of professional project leadership, learn the skills to get the job done well.

What you'll learn
Overview of PMs responsibilities
Project management process overview
What is Cost Management Plan
Cost Management Play Process
Cost Management Planning exercise
Requirements
Knowledge of Project Management
Description
This course is a result of 25 years of consulting project and portfolio management experience, including costing exercises on major projects. We will start this course with a brief overview of project manager’s responsibilities and the role of the cost management plan in the overall project plan.We will then discuss the subsections of the Project Cost Management Plan including Cost Management Approach, Measuring Project Costs, Reporting Format, Cost Variance Response Process, Cost Change Control Process and Project Budget.Subsequently we will analyze two Cost Management Approaches including cost variances and Earned Value Management (EVM). Also we will discuss Project Cost Measurement either according to the formula Variance = Budgeted Expense minus Actual Cost or using EVM metrics like Schedule Variance (SV), Cost Variance (CV), Schedule Performance Index (SPI), Cost Performance Index (CPI) and Estimate at Completion (EAC).We will then discuss Cost Reporting Format and Cost Variance Response Processes.Furthermore, we will analyze Cost Change Control Process including Change Requests and assessing the impact of the Change Request.Finally, we will focus on the Project Budgets and examine several budget approaches including by team, by department, by vendor vs. internal costs, by Fixed vs. Variable costs, by type of expense and by Capex vs. Opex.

Overview

Section 1: Introduction

Lecture 1 Introduction

Section 2: Course Modules

Lecture 2 Project Manager’s Responsibilities

Lecture 3 First sections of Cost Management Plan (CMP)

Lecture 4 Measuring Project Costs

Lecture 5 Cost Change Control Process

Lecture 6 Project Budget

You are a project manager who runs medium to large-size projects,You are a business analyst who is responsible for interactions with stakeholders on medium or large-size projects,You are a technical resource who is planning on participating in a project