In today’s shrinking world, with increasing competition and the financial market’s focus on corporate earnings, managers and engineers are required to meet customer satisfaction, cash flow, profitability and other financial goals. If you are going to survive and excel in this ever-changing and constraining environment, you—the manager or the engineer—must learn how finance and accounting techniques work and how they can impact your project. In addition, you will be required to report on the financial status of your project to your team, the customer and company management.
The first step in successfully managing a project’s costs is to have a project budget that realistically reflects the costs for executing the project. This course gives managers and engineers the tools they need to develop reliable cost estimates by assessing necessary project resources, applying one or more cost estimating methods, adjusting the estimates based on resource availability and project risk, and evaluating the quality of cost estimates prepared by others. This course is compliant with the Project Management Institute’s (PMI’s®) current Project Management Body of Knowledge (PMBOK® Guide).
The goal of this course is to develop skills required to effectively manage the schedule and budget of a project. As part of the Triple Constraints, the quality, the schedule and budget of a project (and the management thereof) are Key Performance Indicators regarding the success of any project. This course will enable the participants to hone the skills necessary to effectively manage the schedule and budget of a project.