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- Payment Terms: Enquire
- Locations: London United Kingdom
- Duration / Course length: 5 Days
- Starting Date: Enquire About It
- Timings: Enquire
Course details
Overview
This five-day interactive training course is designed to equip project managers financial analysts and business professionals with the knowledge and skills required to estimate project costs effectively develop accurate budgets and implement cost-saving strategies. The course covers key budgeting methodologies estimation techniques risk management and financial analysis to ensure projects are delivered within budget while maximizing value.
Objectives
By the end of this training participants will be able to:
Understand the principles of project budgeting and estimation.
Develop accurate project cost estimates using different methodologies.
Identify cost drivers and optimize project financial planning.
Implement cost control measures and manage project expenses effectively.
Apply risk management techniques to mitigate budget overruns.
Use financial performance indicators to track and report project costs.
Develop cost-saving strategies to enhance project profitability.
Leverage industry best practices for efficient budget management.
Who Should Attend
This course is ideal for:
Project Managers and Coordinators
Finance Professionals and Accountants
Business Analysts involved in project financial planning.
Construction Managers and Engineers
Procurement and Supply Chain Professionals
Anyone responsible for project cost estimation and budget control
Course Outlines
Day 1: Introduction to Project Budgeting and Cost Estimation
Overview of Project Budgeting and its Importance
Key Financial Concepts in Project Management
The Role of Budgeting in Project Success
Types of Project Costs (Fixed Variable Direct Indirect)
Common Challenges in Project Budgeting and Estimation
Introduction to Cost Estimation Techniques
Day 2: Project Cost Estimation Techniques
Analogous Estimating (Top-Down Approach)
Parametric Estimating (Statistical Models)
Bottom-Up Estimating for Detailed Cost Analysis
Three-Point Estimating (PERT)
Using Historical Data for Budget Accuracy
Practical Exercises on Cost Estimation
Day 3: Budget Planning Forecasting and Risk Management
Developing a Detailed Project Budget
Budgeting Tools and Software
Contingency Planning and Reserve Analysis
Managing Budget Uncertainties and Risks
Cost Variance Analysis (Planned vs. Actual Costs)
Hands-on Budget Planning Workshop
Day 4: Cost Control and Performance Measurement
Techniques for Monitoring and Controlling Project Costs
Earned Value Management (EVM)
Key Performance Indicators (KPIs) for Financial Management
Managing Change Orders and Budget Adjustments
Communicating Budget Performance to Stakeholders
Day 5: Cost-Saving Strategies and Best Practices
Identifying and Eliminating Unnecessary Costs
Negotiation Techniques for Reducing Supplier Costs
Lean Budgeting and Cost Efficiency Models
Process Improvement for Budget Optimization
Implementing Cost-Saving Initiatives
Course Recap
Job roles this course is suitable for:
Project Cost Estimator , Budget Analyst , Financial ControllerCourse Location
About London Training For Excellence
Empowering Professionals for Over a Decade
London Training for Excellence is a leading provider of professional development programmes, established in 2013. For over eleven years, we have been committed to equipping individuals and organisations with the skills and knowledge they need to excel in today's ever-evolving business landscape.
A Breadth of Expertise
We offer a comprehensive range of training solutions across a diverse set of industries, including:
- Artificial Intelligence (AI): Stay ahead of the curve with cutting-edge training on AI applications, machine learning and data analysis.
- Contact Management: Learn best practices for building and nurturing relationships, managing communication workflows and leveraging technology to optimise your outreach efforts.
- Engineering: Enhance your technical expertise and stay current with the latest advancements in various engineering fields.
- Finance and Legal: Gain a deep understanding of financial concepts, legal frameworks and compliance requirements.
- Human Resources: Navigate the complexities of HR practices, from recruitment and onboarding to employee relations and performance management.
- Leadership and Management: Develop your leadership skills, communication techniques and team-building strategies.
- Logistics: Optimise your supply chain operations and ensure efficient delivery of goods and services.
- Marketing and Sales: Develop effective marketing strategies, hone your sales skills and drive business growth.
- Oil and Gas: Gain specialised knowledge and skills relevant to the oil and gas industry.
- Project Management: Master the art of project planning, execution and delivery to ensure successful project outcomes.
Our Approach
At London Training for Excellence, we believe in delivering high-quality, interactive training programmes that cater to diverse learning styles. Our experienced instructors are industry experts who combine theoretical knowledge with practical application.
Flexible Learning Solutions
We understand that busy professionals require flexible learning options. We offer a variety of delivery methods to suit your needs, including:
- In-person training: provides more significant face-to-face interaction. In a classroom setting, attendees can connect in real-time. In-person training also offers more opportunities for group activities and interactive projects.
- Online Courses: Our comprehensive online courses allow you to learn comfortably in your working environment.
- In-Company Training: Tailor training programmes specifically for your organisation's needs and deliver them on-site for maximum impact and employee convenience.
Investing in Your Success
By investing in training and development with London Training for Excellence, you will gain the knowledge and skills necessary to achieve your professional goals and contribute to the success of your organisation.
Contact Us Today
Let London Training for Excellence help you unlock your full potential and drive positive organisational change. Contact us today to discuss your training needs and explore how we can empower your workforce for the future.
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