MCPM Program

Monday
Sep 06th
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Home Program Modules Module 6: Effective Project Cost Management

Module 6: Effective Project Cost Management

The purpose of project cost management is the completion of the project within budget constraints. While cost of resources is the main focus, a broader, life-cycle costing view is examined. Care should also be given to the manner in which different stakeholders measure project costs.

This workshop details a four-step process for managing costs:

  • Resource Planning
  • Cost Estimating
  • Cost Budgeting
  • Cost Control

Participants learn practical techniques for each of these steps.  Throughout the course the role of the Project Manager in the cost management process is examined. Participants will work with different projects to apply tools and techniques for gathering and communicating information specific to each step.

Participants will learn:

  • Financial terminology, cost management and accounting definitions
  • General accounting concepts such as Future and Present Value, Depreciation and financial statements
  • A process for identifying appropriate resources requirements and estimating the associated costs
  • How contingency fits into cost management
  • To prepare a project budget
  • Cost control techniques (Earned Value Analysis)
  • Templates to assist in communications
 

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Thank you for your interest in our online Information session webinars. These sessions are free to everyone and take no more than one hour including Q&A. Once you click on the link below you will sent into a list of online information sessions offered by The Schulich School of Business and all of our partner universities. Please note - there is a separate listing for each monthly webinar for The Masters Certificate in Project Management. Select the webinar you wish to attend. Fill in all required information and the system will automatically email you a confirmation with instructions, including the log-in information for the web portion and the call-in information for the audio portion. All of our information webinars for the Masters Certificate in Project Management are held on the 15th of each month (or the next available business day) at 1pm EST. Feel free to send this page to your colleagues. Click here to register for an information webinar.