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.
Course content
- Preview01:45
- Preview09:21
- Preview11:08
- Preview03:22
- 00:12Project Management Process Group and Knowledge Area Mapping
- 06:21Inputs to Control Costs
- 00:14Control Costs: Inputs, Tools & Techniques, and Outputs
- 06:03Tools and Techniques to Control Costs
- 07:33Earned Value and Cost Performance
- 06:37Forecasting Using the EAC
- 05:51To-complete Performance Index (TCPI)
- 04:00Outputs of Control Costs
- 06:31Calculating the Planned Value and Earned Value
- 05:40Comparing Schedule Performance against the Plan
- 00:11Earned Value, Planned Value, and Actual Costs
- 05:27Comparing Cost Performance against the Plan
- 08:06Determining Project Performance (I)
- 07:52Determining Project Performance (II)
- 00:12To-Complete Performance Index (TCPI)
- 06:17Determining Estimate at Completion (I)
- 09:09Determining Estimate at Completion (II)
- 00:01Earned Value Calculations Summary Table
- 13:08Exercise: Controlling Project Costs (I)
- 13:25Exercise: Controlling Project Costs (II)
- 00:36Course Project (optional)
- 01:38Keeping Your Project on Budget (PMI - PMP)
- 18 questionsKeeping Your Project on Budget (PMI - PMP)
- 00:04PMI Certification Info
- 00:05Bonus Lecture
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}
- 4.2 Instructor Rating
- 24,920 Reviews
- 267,704 Students
- 123 Courses
Before Udemy, Sorin developed and delivered courses on management, project management, computer literacy, human resources, career development, soft skills for employees and even corrections incidents management.
Currently working as a consultant and program manager, he is a certified trainer and project manager, holding a master degree in International Relations and Policy Making and a bachelor degree in Law and Public Administration.
Sorin coordinated during the last 10 years projects in the areas of rule of law, regional development and human resources.
He has more than 10 years of middle/senior managerial experience within the civil service (justice, corrections, internal affairs, training), private sector (project management, consultancy, training) and NGO (industrial relations, rural development).
Sorin is also a certified International Computer Driving License (ICDL) tester and trainer for the United Nations Peacekeeping Missions, certified Human Resource Professional and a Public Manager (professional degree).