Project Estimation And Cost Management: A Hands-On Approach

Unlock the secrets of accurate project estimation and cost control with step-by-step guidance and practical tools.

What you'll learn
Fundamentals of Project Estimation and Cost Control: Understand the key principles of project estimation and the impact of cost management on project success.
Developing a Project Estimating Roadmap: Build a structured approach to project cost estimation with a step-by-step roadmap.
Hands-On Experience with Microsoft Project: Master the essential features of MS Project for effective project planning and scheduling.
Creating and Managing Budgets: Develop estimating matrices and driver worksheets to streamline budget planning.
Resource Planning and Allocation: Learn how to manage resources effectively, including setting up resource sheets and tracking allocations.
Project Scheduling Techniques: Use advanced scheduling formulas and techniques within MS Project to manage task durations and dependencies.
Practical Applications of Estimation and Cost Management: Gain hands-on experience with real-world scenarios to solidify your understanding.
Addressing Common Project Challenges: Identify and resolve resource over-allocations and scheduling conflicts.

Requirements
Basic Understanding of Project Management: Familiarity with general project management concepts (e.g., project life cycle, project scope, deliverables, timelines, etc.).
Familiarity with Microsoft Office: Basic proficiency in using Microsoft Excel and Word as these tools are commonly used in project estimation and reporting.

Description
This course is designed to empower project managers, planners, and team leads with the essential skills required for precise project estimation and effective cost management. By leveraging Microsoft Project, participants will learn the methodologies and best practices for estimating project costs, managing resources, and delivering projects within budget. This hands-on course combines theoretical insights with practical applications, enabling learners to master the art of project estimation from the ground up.Section 1: IntroductionLecture 1: Introduction to Project Estimate and CostIn this introductory lecture, you'll gain an overview of the importance of project estimation and cost management in ensuring successful project delivery. The session sets the foundation for understanding the core concepts and tools used throughout the course.Section 2: Estimating Road Map and Key Success FactorsLecture 2: Estimating Road MapDiscover a structured approach to project estimation with a detailed roadmap, guiding you through each phase from planning to execution.Lecture 3: Estimating Road Map ContinuesDive deeper into the roadmap, exploring key success factors that influence accurate estimations, including stakeholder alignment and risk management.Section 3: Estimating Work BookLecture 4: Estimating Matrix and BudgetLearn how to develop an estimating matrix to streamline budget planning, helping you allocate resources effectively.Lecture 5: Driver WorksheetUnderstand how to create and use driver worksheets to capture project variables and refine cost projections.Section 4: Task and Activity in WBSLecture 6: Creating the Review WBSMaster the art of creating a Work Breakdown Structure (WBS) to organize project tasks and activities systematically.Lecture 7: Task and Activity in WBSDelve into defining tasks and activities within your WBS, ensuring comprehensive project planning.Lecture 8: Task and Activity in WBS ContinuesContinue exploring advanced techniques for optimizing task assignments and dependencies in your WBS.Section 5: Management and CoordinationLecture 9: Management and CoordinationDiscover strategies for managing and coordinating project tasks, ensuring alignment across teams and stakeholders.Lecture 10: Resource SummaryLearn to summarize and optimize resource allocation for maximum efficiency and cost-effectiveness.Section 6: Phase Major ActivityLecture 11: Phase Major ActivityExplore the major activities involved in each project phase and their impact on overall project success.Lecture 12: Phase Major Activity ContinuesA deeper look into managing critical activities to ensure project milestones are met.Lecture 13: Exporting MS ProjectGet hands-on experience with exporting data from MS Project for reporting and analysis.Lecture 14: Output of MS ProjectLearn how to interpret MS Project outputs to track project performance.Lecture 15: Predecessor in MS ProjectUnderstand how to set up task dependencies using predecessors in MS Project.Lecture 16: Predecessor in MS Project ContinuesAdvanced techniques for managing complex task relationships using MS Project.Lecture 17: Scheduling Formula of MS ProjectMaster the scheduling formulas that drive MS Project, ensuring accurate timelines.Lecture 18: Type of BudgetingExplore different budgeting methods and their applications in project management.Lecture 19: Task Duration and PhaseLearn how to estimate task durations accurately and plan phases effectively.Lecture 20: Resources and Its TypesUnderstand various types of resources and how to allocate them optimally.Lecture 21: Resource Sheet and Resource Form ToolsHands-on practice with resource sheets and forms in MS Project for efficient resource management.Lecture 22: Example of ResourcesPractical examples of resource management to enhance your learning.Lecture 23: Effort Driven SchedulingExplore effort-driven scheduling to optimize task durations based on resource availability.Lecture 24: Example of Effort Driven SchedulingReal-world scenarios demonstrating the use of effort-driven scheduling.Lecture 25: Team Planner in MS ProjectLearn how to use the Team Planner view in MS Project for effective team management.Lecture 26: Bottom-Up EstimationMaster bottom-up estimation techniques to improve project cost accuracy.Lecture 27: Overview of ProjectA holistic view of project planning and execution.Lecture 28: Overview of MS ProjectGet acquainted with the MS Project interface and its essential features.Lecture 29: Resource Over Allocation and OverviewIdentify and resolve resource over-allocations to prevent project delays.Lecture 30: Task Set for Project PlanningWrap up with a comprehensive guide on setting up tasks for seamless project planning.Conclusion:By the end of this course, students will have mastered the essential skills of project estimation, budgeting, and resource management using MS Project. You'll walk away with practical knowledge and hands-on experience to manage project costs efficiently, align resources effectively, and ensure timely project delivery. Whether you’re a seasoned project manager or just starting your journey in project planning, this course will equip you with the tools and techniques to excel in any project environment.