PROJECT COST AND FINANCIAL MANAGEMENT

Completing project on schedule, Within budget ,to Maximise customer satisfaction

Duration: 2 Days | 16 Contact Hours | Code: PCFM

ABOUT THE PROGRAM

Project Cost and Financial Management is concerned with the process of performing pre-project financial assessment, planning, creating and controlling the cost of a project or business. It includes activities such as planning, estimating, budgeting, financing, funding, managing, and controlling costs so that the project can be completed within the approved budget. Cost management covers the full cycle of a project from the pre-project assessment, initial planning phase towards measuring the actual cost performance and project completion. This course will explain the cost definition, process of calculating the project cost and also Earn Value Analysis technique which is used to monitor the performance of the project cost in line with the method as according to PMBOK.

This introductory workshop will help you to be more effective in your role, and will give you a proven set of tools and techniques to use when managing projects in any industry; from initiation and planning through to execution and closeout, to help ensure project success. Participants will work in teams to plan and execute simulated projects with management tools as used by professional project managers.

PROGRAM OUTLINE

  • Introduction
    • Course Structure and Objectives
  • Project Assessment and Selection Method
    • Benefit Cost Ratio
    • Payback Period
    • Present Value
    • Net Present Value (NPV)
    • Internal Rate of Return (IRR)
    • Weighted Scoring Model
    • Return on Investment (ROI)
  • Cost Definition
    • Opportunity Cost
    • Opportunity Loss
    • Direct Cost
    • Indirect Cost
    • Variable Cost
    • Fixed Cost
    • Sunk Cost
    • Capital Expenditure (CAPEX)
    • Operational Expenditure (OPEX)
  • Cost Monitoring
    • Earn Value Management (EVM)
    • Planned Value (PV)
    • Earn Value (EV)
    • Actual Cost (AC)
    • S-Curve Analysis
    • Cost Performance Index (CPI)
    • Schedule Performance Index (SPI)
    • Cost Performance Index (SPI)
    • Cost Variance (CV)
    • Schedule Variance (SV)
  • Project Cost Calculation
    • Project Scope vs. Product Scope
    • Scope Definition
    • Creating a WBS
    • WBS and Account Code
    • Estimate Resource
    • Estimate Duration
    • Develop Project Schedule
    • Critical Path
    • Definitive Estimate
    • Project Cost Calculation and Cost Baseline
    • Management Reserve & Contingency Reserve

WHO SHOULD PARTICIPATE

This course is perfect for project directors, project managers, assistance project manager, project team members, technical team members, financial executive, business analyst and anyone who is directly involved with projects in almost every industry who wishes to achieve a better understanding of practical, formal project management methods.

LEARNING OBJECTIVES

At the end of this action-based workshop, participants will be able to:

  • Identify the correct method of financial assessment for a project and understand the formula, method of calculation and analysis of results.
  • Identify types of cost, definition and financial terminologies used in a project.
  • Create a total project scope in a form of Work Breakdown Structure (WBS) and project schedule by using Critical Path method.
  • Create a short and long term project costing and financial requirements.
  • Perform project cost monitoring by using Earn Value Management (EMV) techniques and S-Curve analysis
  • Perform analysis and post project assessment in terms of profit and loss (PNL)

CREDITS

This course qualifies for 16 Contact Hours of formal project management education, satisfying the Project Management Institute (PMI) CAPM or PMP Exam requirements.

COURSE FEE

Singapore Course Fee: S$818.55 (Including GST)
Malaysia Course Fee: RM1,378 (Including SST)

* Group pricing applicable for company in-house / group training. Terms & Conditions apply.

Training Grants

Funding support for Certified Associates in Project Management training courses. Terms and conditions apply.

Training Assistance Scheme:
SBL Khas Scheme | Malaysia

The SBL Khas programme provided by HDRCorp, Malaysia supports the course and exam fees, capped at RM1,300 per day for Company-sponsored trainees from HRDCorp Registered Employers. Prior approvals must be obtained from HRDCorp.

Train with EPM and you are in good company

OUR TRAINERS

Our trainers have many years of project management and training experience in the processes, tools, techniques and good practices outlined in the Project Management Institute PMBOK® Guide and are able to relate this knowledge to the running of successful projects in industry.

THE COURSE MATERIAL

Our group exercises and exam practice questions have been developed over many years following Instructional Design techniques. All materials are regularly updated based on participant feedback and current industry good practices.

THE TRAINING WORKSHOP

Our workshops are conducted in a group environment where participants are encouraged to participate in individual and team activities to promote learning, build team morale and reinforce understanding of concepts.

Enquire now. Contact us at Singapore: +65 61003767   |   Malaysia:+603 22019767 

The PMI Authorized Training Partner seal is a mark of the Project Management Institute, Inc.