Project Scheduling and Budgeting

Course details

Project schedule and budget are core components of the project plan where project managers and organizations demand reliable, challenging and achievable project schedules and budgets.

By end of the training, attendees should be able:

• Develop a project schedule and budget
• Increase reliability of your project estimates

Course Outlines

Project management terminology

• Project manager roles & responsibilities
• Project life cycle
• Organizational & stakeholders’ influence

Setting base for project planning

• About the scope statement
• Work Breakdown Structure (WBS)
• Committed vs. flexible scheduling
• Manual vs. automated estimation tools

Developing schedule

• Project time estimation techniques
• Influence of human behavior on time estimates
• Resource vs. time relationships
• Student syndrome
• Parkinson’s law
• Overtime effect on actual performance
• Project sequencing
• Relations & dependencies
• Critical path
• Critical chain
• Crashing & Fast tracking
• Analyzing the project schedule
• Resource availability
• Time buffers
• Floating
• milestones

Developing budget

• Principles of project costing
• Costing vs. pricing
• Accuracy of estimates overtime
• Categories of project costs
• Calculating cost of internal resources
• Cost assignment methods
• Project cost estimation techniques
• Cash flow projection
• Impact of sales & procurement policies
• Assigning roles & responsibilities

Project baseline

• Schedule baseline
• Cost baseline

Earned Value Management (EVM)

Managing risks of time & cost

• What to consider in procurement?
• Types of project reserves

Controlling project changes