Project Cost Management
June 12, 2020 | Online :: 8:15 am - 12:30 pm Central Time
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Project Schedule Management, June 12, 2020
This webinar will give the participant a strong overview of project costs and budgeting. To develop a definitive project budget, one must first determine the scope of the project. This requires discussions with key stakeholders, supplier quotes, expenses, and contingency budgets. Further, maintaining the budget (i.e. preventing cost overruns) is an important part of managing a project. Students will be able to utilize these techniques immediately upon return to their current work role. The course content is in compliance with the PMBOK© (Project Management Body of Knowledge) as published by the Project Management Institute.
This webinar will be illustrated with real examples and reinforced with individual exercises. The program will also illustrate how projects coincide with company strategies and usually involve cross-company departments and expertise (and costs).
- Obtain a high comfort level in developing a project budget
- Apply earned value techniques to determine project status
- Recognize the importance of Net Present Value (NPV)
- Discuss how cost overruns impact the bottom line
- Apply a successful approach in managing scope (and by extension, the budget)
- Recognize the value of a contingency budget
- Recognize capital vs. operating expenses and sunk costs
EUCI has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET). In obtaining this accreditation, EUCI has demonstrated that it complies with the ANSI/IACET Standard which is recognized internationally as a standard of good practice. As a result of their Authorized Provider status, EUCI is authorized to offer IACET CEUs for its programs that qualify under the ANSI/IACET Standard.
EUCI is authorized by IACET to offer 0.4 CEUs for this event.
Requirements for Successful Completion of Program
Participants must log in and be in attendance for the entirety of the webinar to be eligible for continuing education credit.
PowerPoint presentations, interactive group exercise, and group discussion will be used during this webinar.
Friday, June 12, 2020 – Central Time
8:15 – 8:30 a.m. :: Login and Welcome
8:30 am – 12:30 pm :: Course Timing
- How the project scope determines the budget
- Determining project requirements
- Why proformas and net present value are important
- Capital vs. operating expense
- Overheads, contingencies, and sunk costs
- Types of estimates
- Earned value analysis
- What should be included in my budget?
- Use of the PERT formula
- Cash flows
- Earned value analysis – how, why, and when— including a practical exercise
- Sunk costs and project cancellation criteria
David Tennant, Windward Consulting Group LLC
David Tennant has successfully directed over $3.5 Billion in projects, programs, and resources. With degrees in engineering and business, he has a unique perspective on projects at both the practitioner and executive levels. His experience includes engineering, operations, marketing, board leadership, consulting, training, and numerous executive roles.
Mr. Tennant has had projects worldwide and published over 35 articles on technical and managerial topics. His experience includes utilities, manufacturing, services, telecom, R&D, and EPC (engineering) firms. He is a registered professional engineer and certified project manager (PMP).
Our courses are designed to be the best possible use of your valuable time – get the information you need to improve your position in the market in an interactive, dynamic format.
We will be using Microsoft Teams to facilitate your participation in the upcoming event. You do not need to have an existing Teams account in order to participate in the broadcast – the course will play in your browser and you will have the option of using a microphone to speak with the room and ask questions, or type any questions in via the chat window and our on-site representative will relay your question to the instructor.
- You will receive a meeting invitation will include a link to join the meeting.
- Separate meeting invitations will be sent for the morning and afternoon sessions of the course.
- You will need to join the appropriate meeting at the appropriate time.
- If you are using a microphone, please ensure that it is muted until such time as you need to ask a question.
- The remote meeting connection will be open approximately 30 minutes before the start of the course. We encourage you to connect as early as possible in case you experience any unforeseen problems.
Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ
If you are unable to attend at the scheduled date and time, we make recordings available to all registrants for three business days after the event