- Duration: 2 Hours
Course details
Accurately forecasting the cost of future projects is vital to the success of projects and the survival of any business. Project managers must have the ability to not only identify what work is required at the onset of a project, but precisely forecast how much that work is going to cost throughout the duration of the project. This course provides an overview of estimating and budgeting project costs in the Project Cost Management Knowledge Area, and introduces best practices outlined in A Guide to the Project Management Body of Knowledge (PMBOK® Guide) Fifth Edition, published by the Project Management Institute (PMI®). Specifically, this course covers planning how to manage project costs, gathering cost information from numerous sources and then utilizing that information, and using tools and techniques such as bottom-up estimating and reserve analysis for estimating costs. Learners will also determine the project budget by calculating reserves and funding requirements. This course provides a foundational knowledge base reflecting the most up-to-date project management information, so learners can effectively put principles to work in their own organizations. This course will assist in preparing the learner for the PMBOK® certification exam. This course will assist in preparing learners for the PMI® certification exam. This course is aligned with the PMBOK® Guide Fifth Edition, published by PMI®, Inc., 2013. Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI®.
- recognize how each process in Project Cost Management is used
- identify the inputs, tools and techniques, and outputs of the Plan Cost Management process
- recognize how the inputs to the Estimate Costs process are used
- recognize how the tools and techniques of the Estimate Costs process are used
- review and correct the bottom-up estimate for a given project
- match the outputs of the Estimate Costs process to their descriptions
- recognize how the inputs to the Determine Budget process are used
- recognize how the tools and techniques of the Determine Budget process are used
- determine whether a cost baseline was correctly established, given a scenario
- match the outputs of the Determine Budget process to their descriptions
About New Horizons Lebanon
As changes in technology have accelerated, it’s become even more essential for people to master technology to be productive, invaluable employees who optimize, program and invent solutions—and even grow companies of their own. With over 300 centers in 60 countries, New Horizons is the world’s largest independent IT and Business training company. Over the past 35 years, New Horizons has delivered a full range of IT and business skills/Management training through innovative learning methods that have transformed businesses and helped over 35 million students reach their goals. New Horizons Lebanon branch was established in 1996.
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