Keeping Your Project on Budget (PMI - PMP)

Name: Keeping Your Project on Budget (PMI - PMP)
Rating: 4.2 (100 reviews)

Project Management Professional Certification Program (PMI-PMP)

Created bySorin Dumitrascu

Last updated 11/2025

English

What you'll learn

Identify the inputs to the Control Cost process
Recognize the tools and techniques you can use to control project costs
Match earned value management values with their formulas
Recognize the situations in which different estimate at completion (EAC) formulas are used
Calculate the to-complete performance index (TCPI) for a project given earned value management (EVM) figures
Recognize how outputs of the Control Costs process are used
Calculate the planned value and earned value, given the budget, percent of time passed, and percent of work completed
Calculate the schedule variance and schedule performance index, given the earned value and planned value
Calculate the cost variance and cost performance index, given the earned value and actual costs
Determine project performance, given a set of raw data points
Utilize work performance data to determine project performance
Determine the estimate at completion, using the formulas in different scenarios
Determine Estimate at Completion, in different scenarios
Demonstrate your understanding of the Control Costs process

Course content

1 section • 32 lectures • 2h 55m total length

A day in the life of a project manager3:52
A day in the life of a project manager
Course Choice, Skill Development and Prior Knowledge
Course Overview1:45
In this course, you'll learn about the control cost process. Including helpful techniques you can use to keep your project on budget.
Effective Learning7:04
Effective Learning
FAQs1:02
FAQs
Program Overview (I)9:21
The Project Management Professional Certification Course (PMI-PMP) includes a number of 28 sections covering the most relevant information in the Project Management Body of Knowledge (PMBOK6) developed by the Project Management Institute (PMI).
Program Overview (II)11:08
The Project Management Professional Certification Course (PMI-PMP) includes a number of 28 sections covering the most relevant information in the Project Management Body of Knowledge (PMBOK6) developed by the Project Management Institute (PMI).
Project Management Process Group and Knowledge Area Mapping0:12
Project Management Process Group and Knowledge Area Mapping
Inputs to Control Costs6:21
After completing this topic, you should be able to identify the inputs to the Control Cost process.
The Science of Better Learning5:14
The Science of Better Learning
Control Costs: Inputs, Tools & Techniques, and Outputs0:14
Control Costs: Inputs, Tools & Techniques, and Outputs
Tools and Techniques to Control Costs6:03
After completing this topic, you should be able to recognize the tools and techniques you can use to control project costs
Earned Value and Cost Performance7:33
After completing this topic, you should be able to match earned value management values with their formulas
Forecasting Using the EAC6:37
After completing this topic, you should be able to recognize the situations in which different estimate at completion (EAC) formulas are used
To-complete Performance Index (TCPI)5:51
After completing this topic, you should be able to calculate the to-complete performance index (TCPI) for a project given earned value management (EVM) figures
Outputs of Control Costs4:00
After completing this topic, you should be able to recognize how outputs of the Control Costs process are used
Calculating the Planned Value and Earned Value6:31
After completing this topic, you should be able to calculate the planned value and earned value, given the budget, percent of time passed, and percent of work completed
Comparing Schedule Performance against the Plan5:40
After completing this topic, you should be able to calculate the schedule variance and schedule performance index, given the earned value and planned value
Earned Value, Planned Value, and Actual Costs0:11
Earned Value, Planned Value, and Actual Costs
Comparing Cost Performance against the Plan5:27
After completing this topic, you should be able to calculate the cost variance and cost performance index, given the earned value and actual costs
Determining Project Performance (I)8:06
After completing this topic, you should be able to determine project performance, given a set of raw data points
Determining Project Performance (II)7:52
After completing this topic, you should be able to utilize work performance data to determine project performance
To-Complete Performance Index (TCPI)0:12
To-Complete Performance Index (TCPI)
Concepts, Insights and Inquiries
Determining Estimate at Completion (I)6:17
After completing this topic, you should be able to determine the estimate at completion
Determining Estimate at Completion (II)9:09
After completing this topic, you should be able to recognize how the choice of EAC formula depends on the project situation
Earned Value Calculations Summary Table0:01
Earned Value Calculations Summary Table
Exercise: Controlling Project Costs (I)13:08
After completing this topic, you should be able to demonstrate your understanding of the Control Costs process
Exercise: Controlling Project Costs (II)13:25
After completing this topic, you should be able to demonstrate your understanding of the Control Costs process
Practical Activity: Budget Control
Keeping Your Project on Budget (PMI - PMP)
Keeping Your Project on Budget (PMI - PMP)
PMI Certification Info0:03
PMI Certification Info
Keeping Your Project on Budget (PMI - PMP)1:38
In this course, you'll learn about the control cost process. Including helpful techniques you can use to keep your project on budget.
Takeaways, Practical Applications and Endorsements
PMI PMP Exam Outline3:07
PMI PMP Exam Outline
Ready to ace the PMI-PMP Exam?0:23
After completing the Project Management Professional Certification Program (PMP), take your preparation to the next level with the Test Prep: Project Management Professional: PMI - PMP Exam Mastery.
Dive deep into key topics, practice with real exam scenarios, and ensure you're fully equipped to conquer the PMI exams with confidence.
Applied Knowledge is Real Power17:45
You think knowing stuff changes the game? You think sitting in a library, stacking up facts like you’re building a Jenga tower, is gonna make you a winner? Man, that’s cute. But life ain't a trivia night. Information alone? It’s worthless. It’s like having a Lamborghini in your garage but you never learned how to drive. You just sit in it, making engine noises. Vroom vroom. People walk by, they see the car, but they also see you ain't going nowhere. You got all this knowledge, all these textbooks, but when life throws a punch, you’re still looking up the definition of "duck." It’s what you *do* with that information that actually matters. Don't be the person with the shiny car and no keys.

Requirements

No special requirements or prerequisites are needed to take this course, but some extra reading about projects, project management, project life cycle, organizational project management, project scope, project schedule, project costs, project quality, project human resources and project communications will help.
Part of the Project Management Professional Certification Course (PMI-PMP)
Leaders, managers, entrepreneurs, professionals and project workers with or without formal project management training will improve project management skills and knowledge and will be ready to stand for formal certification.

Description

The Keeping Your Project on Budget (PMI - PMP) is course 13 of 28 of the Project Management Professional Certification Program (PMI-PMP).

Establishing the budget for a project is a vital process in project management. Yet, it means nothing if the budget is not adhered to. Controlling project cost is critical to meeting a project's budgeted targets.

And monitoring cost performance can mean the difference between the success and failure of a project. In this course, you'll learn about the control cost process. Including helpful techniques you can use to keep your project on budget.

1. Inputs to Control Costs
2. Tools and Techniques to Control Costs
3. Earned Value and Cost Performance
4. Forecasting Using the EAC
5. To-complete Performance Index (TCPI)
6. Outputs of Control Costs
7. Calculating the Planned Value and Earned Value
8. Comparing Schedule Performance against the Plan
9. Comparing Cost Performance against the Plan
10. Determining Project Performance
11. Determining Project Performance
12. Determining Estimate at Completion
13. Determining Estimate at Completion
14. Exercise: Controlling Project Costs

Project budgets rarely remain static. In this course, you'll also gain the skills to handle unexpected costs, scope changes, and potential risks. We'll cover methods to proactively identify cost-influencing factors, along with strategies for creating contingency plans to safeguard your project's financial success.

That’s it! Now go ahead and push that “Take this course” button, and see you on the inside!

Who this course is for:

Leaders, managers, entrepreneurs, professionals and project workers with or without formal project management training will improve project management skills and knowledge and will be ready to stand for formal certification.