Scheduling and Cost Control

Develop effective measures and skills for scheduling and controlling projects.

Course Overview

In this course you will focus on managing the constraints typical of many a project such as; limits on time, human resources, materials, budget and specifications. Learn to master techniques such as estimating, forecasting, budgeting, monitoring, controlling, analysing and reporting costs and interpreting the meaning of earned value data. Learn a sound, logical framework for scheduling and controlling project activities and discover ways to work within the identified constraints without curtailing creativity and innovation.

Course Topics

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1. Essential Background
   1. Overview of the project management life-cycle
   2. The triple constraints
   3. Planning tools
   4. Project requirements - a review
   5. The work breakdown structure (WBS) - a review
   6. Challenges in scheduling and cost control
2. Resource Allocation and Estimating
   1. Using estimates for scheduling and cost control
   2. The basic rules of estimating
   3. Levels of estimating and estimate types
      • Top-down vs. bottom-up
      • Order of magnitude
      • Budget
      • Definitive
   4. Four estimating methodologies
   5. Identifying controllable costs
      • Resource
      • Material
      • Direct
      • Indirect
   6. Planning for risk with contingency
   7. Building the project resource pool
      • Using resources to build estimates
      • The responsibility matrix
   8. Time-controlled estimates
   9. Resource-limited estimates
3. Scheduling
   1. Network scheduling
   2. Validating schedules
   3. Arrow diagrams and precedence diagrams
   4. Basic scheduling and network calculations
   5. Advanced precedence relationships and the critical path
   6. Alternative constraints
   7. Gantt and milestone charts
4. The Baseline
   1. Establishing baselines
   2. Understanding types of baselines
   3. Time-phased distribution of costs
   4. Cumulative cost curves
5. Managing Change within the Project
   1. The process of control
   2. Identifying sources of change
   3. Screening change
   4. Updating the project plan
   5. Communicating change
6. Evaluation and Forecasting
   1. Causes of variances
   2. Establishing the "data date" for evaluation
   3. Controlling costs and schedule late in the project
   4. Components of the project audit
   5. Considerations in establishing a monitoring system
   6. Earned value
   7. Advanced earned-value forecasting tools
7. The Exit Strategy
   1. Steps in completing the project
   2. Scope verification
   3. Contract close-out
   4. Administrative closure