Project Cost Scheduling - PCS

Discipline: Project Management
Level: Intermediate
Instructors who teach this course:
  • Mr. Christopher D. Lennon

  • About the course
  • Designed For
  • You will learn
  • Course Content
The financial dynamic to successful project delivery lies at the very heart of effective project management. A project is a complex series of interactions between time, people, and resources - their allocation and utilization. All of these activities have a cost, which may be either direct or indirect, but nevertheless, will impact a project's budget. Although many projects deliver what they set out to achieve, they are often over budget which raises the ultimate question as to whether or not they should be considered as successful. Project Cost Scheduling highlights and informs the participant of how to manage the project cost function, its dynamics and components, leading to an enhanced understanding and application of techniques that will contribute directly to more efficient project management processes. This course is not about number crunching, it is about becoming familiar with the interactions and processes that underpin and ultimately inform the cost scheduling activities within projects. The course contains a significant element of practical exercise that builds daily, allowing participants to grasp the inter-relationships between cost, project lifecycle, and operational activities, thereby imparting clarity to the whole process of successful project delivery.
Exploration, production, and management personnel who wish to apply project management techniques to their activities and operations.
How To:
  • Understand the integration of cost scheduling into project management processes and procedures
  • Have awareness throughout a project lifecycle of the central importance of managing costs
  • Apply such techniques as the Work Breakdown Structure (WBS), the Work Package, and the Cost Breakdown Structure (CBS)
  • Estimate costs and deal with cost escalations and reductions
  • Understand key contractual forms and issues
  • Apply the basics of managing a project budget
  • Have awareness of reporting responsibilities
  • Project estimation and schedule
  • Integrating cost and schedule
  • The project lifecycle
  • Tools and techniques used in cost scheduling
  • Cost estimation
  • Cost escalation and reduction
  • Information; communication, monitoring, and control
  • Stakeholder management
  • Contractual issues and forms
  • The project budget
  • Ownership and reporting requirements