Project Budget Management

Course details

The course describes the performance outcomes, skills and knowledge required to identify, analyses and refine project costs to produce a budget, and to use this budget as the principal mechanism to control project cost..

Learning outcomes

By the completion of this course, learner should be able to:

•  Understand the principals of Budget management.
•  Identify the tools and the techniques related to Budget management.
•  Conduct financial completion activities.
•  Monitor and control project costs.
•  Determine project costs.

Expected Qualification/Unit Level

To be equivalent Level 8

Assessment criteria for each learning outcome

Learners will be assessed throughout the courses based on their competency shown in their work on their assignments.

Who should attend or potential job occupations

This courses is designed to suite each of the following roles:

•  General Managers.
•  Project Manager.
•  Project Coordinators.
•  Business Managers.
•  Project Expeditors.
•  Supervisors, Site Engineers.
•  Business Consultants.
•  Contracting officers.
•  Finance and account professionals.

Program Sector

Management

Topic / Content outlines

The outline of the course will cover the following criteria as to which candidates will be acquired to:

•  Conduct appropriate activities to signify financial completion.
•  Review project outcomes using available records and information to determine the effectiveness of cost management processes and procedures.
•  Review cost management issues and identify improvements.
•  Implement agreed financial management processes and procedures to monitor actual expenditure and to control costs.
•  Select and use cost analysis methods and tools to identify cost variations, evaluate options and recommend actions to a higher project authority.
•  Implement, monitor and modify agreed actions to maintain financial and overall project objectives throughout the project lifecycle.
•  Determine resource requirements for individual tasks, with input from stakeholders and guidance of others.
•  Estimate project costs to enable budgets to be developed and implement agreed cost management processes.
•  Develop and implement a cost management plan, within delegated authority, to ensure clarity of understanding and ongoing management of project finances.