PROJECT COST MANAGEMENT

Catalog description

Definition and analysis of the processes required to ensure that the project is completed within the approved budget. It is the application of financial concepts, earned value, and forecasting techniques. There is a discussion regarding cost estimating, budgeting, S -curves, operation and maintenance life cycle costs, contingency reserve, and baseline. The budget definition for a project is covered as part of this course. The discussion of the differences between a new change to the approved project budget and project variances is reviewed. Impact analysis of project critical areas is also covered.