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Schedule and Cost Control

  • Course Code GK2809
  • Duration 4 days

Additional Payment Options

  • GTC 17 inc. VAT

    GTC, Global Knowledge Training Credit, please contact Global Knowledge for more details

Public Classroom

Public Classroom Price

£1,935.00

excl. VAT

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Course Delivery

This course is available in the following formats:

  • Company Event

    Event at company

  • Public Classroom

    Traditional Classroom Learning

Request this course in a different delivery format.

Course Overview

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Learn the skills you need to effectively establish and manage a realistic schedule and detailed budget. Through hands-on exercises, you'll learn to develop a work breakdown schedule, grasp diagramming techniques, identify task relationships, determine the critical path, employ estimating techniques, and analyze resource utilization.

Once the project schedule is complete, you'll create a budget that includes all direct and indirect costs associated with the project. Learn the importance of baselining project schedules and budgets to make reporting and tracking progress easier. Understand how to use earned value analysis and other reporting techniques to ensure that your project progress is clearly identified and communicated to stakeholders. Create schedule and cost management plans, and control changes through an integrated change management process. You'll learn to use a variety of tools that will ensure that your project is delivered on time and within budget.

This course was previously titled Managing Project Schedules and Budgets.

Course Schedule

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Target Audience

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Associate project managers, project managers, IT project managers, project coordinators, project analysts, project leaders, senior project managers, team leaders, product managers, and program managers.

Course Objectives

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What You'll Learn

  • Develop a work breakdown structure
  • Create a network diagram
  • Identify the critical path
  • Estimating techniques
  • Finalize your project schedule
  • Types of cost and expenditures
  • Develop a budget
  • Report progress through earned value analysis

Hands-On Exercises

  • Develop the Work Breakdown Structure
  • Create the Network Diagram
  • Determine the Critical Path
  • Develop a Resource Assignment Matrix
  • Create a Resource Histogram
  • Develop the Gantt Chart
  • Estimate the Budget
  • Prepare a Status Report for Schedule and Budget

Course Content

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1. Successful Project Schedules

  • Schedule Fundamentals
  • Activity Definition
  • Work breakdown structure
  • Decomposition
  • Work packages
  • Activities
  • Activity Sequencing
  • Preparing precedence diagrams
  • Creating network diagrams
  • Duration Estimating
  • Expert judgment
  • Bottom up and top down estimates
  • Tools for Creating Realistic Effort Estimates and Schedules
  • Critical path method
  • GERT
  • PERT
  • Compressing the Schedule
  • Crashing and fast tracking
  • Controlling Schedule Change
  • Planning schedule management
  • Change control
  • Measuring Success Against the Schedule
  • Earned value analysis
  • Status reporting
  • Closing out the Schedule

2. Successful Project Budgets

  • Budget Fundamentals
  • Types of Cost
  • Resource
  • Direct expenses
  • Indirect expenses
  • Cost Change
  • Planning cost control
  • Change control
  • Measuring Success Against the Budget
  • Earned value analysis
  • Estimate at completion
  • Estimate to completion
  • Status reporting
  • Closing out the Budget

Course Prerequisites

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Introduction to Project Management
IT Project Management
Applied Project Management