Cost planning & control

Why this training

Project cost controls is not accounting. The specifics of project cost management should be well understood in order to implement integrated techniques such as Earned Value Management.

Learning goals

• Explain what project cost controls is and how it is different from project accounting.
• Perform project cost control with a typical project cost sheet.

Section

• Project Controls & Costs
• Cost Estimation
• Budgeting
• Cash Flow Management
• Project Cost Control

Learning method

This classroom training includes two exercises:

1. The participants will make a budget (in time) for an example project. This exercise is an eye-opener for the difference between budgeting and accounting.
2. The participants will perform project cost control for the same project in a simulated execution scenario by using a typical project cost sheet.

Target audience

Planning engineers and other project members.