Keeping Your Project on Budget (PMI - PMP)
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
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
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.
Instructor
![Sorin Dumitrascu](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 64 64"%3E%3C/svg%3E){kind=avatar}
- 4.3 Instructor Rating
- 37,855 Reviews
- 304,626 Students
- 160 Courses
Sorin Dumitrascu here! I'm a certified trainer, project manager, and public manager with over 15 years of experience in managing, consulting and designing and delivering online training courses.
I have a Masters degree in International Relations and Policy Making, a Bachelor degree in Public Administration and a professional degree of Public Manager.
I'm specialised in business management, HR management, career development, project management, operations management and business analysis certification and career development courses.
I teach what I practice. I currently work, as a consultant and instructor, in various projects of United Nations, European Union, national and international NGOs and private companies - providing expertise in general management, industrial relations, prisons and corrections and adult education.
Whether you're looking to upskill or simply need guidance, I'm here to help you reach your goals!
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