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PMP 5
Project Cost Management

92 RON

 access  

LevelTime to complete
LessonsTests
Intermediate3.5 hours
151 final
 

Course description

This course was designed as a supplemental study guide for the major content areas of Chapters 1 and 2 of A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Fourth Edition. In this course, you will consider the general approaches to cost management, such as the methods that are used to estimate and budget for project costs. You will also learn about the interrelationship of various cost control concepts and possible responses a project management team might make if a project is falling behind schedule or overrunning its budget.

This course contains video segments of project management professionals who offer advice and best practices about how to become a more effective project manager.

Taking advantage of online interactivity, the course contains a vocabulary game, flashcards, and other activities to help you master the material.

Target audience

  • This course is designed for adult learners with some project management experience.
  • Learners should have some experience in project management and will need to have access to the Project Management Institute`s A Guide to the Project Management Body of Knowledge, Fourth Edition (PMBOK® Guide).

After completing this course, you should be able to:

  • Define cost management and its associated cost management plan
  • Explain the various inputs of and methods for estimating activity cost
  • Understand how to aggregate activity costs in order to determine budget and both periodic and total project funding requirements
  • Understand the cost performance baseline and performance measurement baseline and their importance in earned value management
  • Calculate planned value, earned value, actual cost, schedule variance, cost variance, the schedule performance index, and cost performance index
  • Understand how baselines, planned value, earned value, and actual cost can be represented in graphic form
  • Calculate the budget at completion, estimate at completion, estimate at complete, and the to-complete performance index and use these concepts to forecast the cost requirements of a project
  • Identify the warning signs that a project is falling behind schedule or overrunning its budget and explain the various possible responses
  • Explain performance-reporting techniques and updates to project documentation
  • Understand the various approaches to project selection, including return on investment and internal rate of return
92 RON

 access