The Cost Management course addresses the identification, elaboration, planning, and management of the project budget. Including selected processes from the PMI Integration, Cost, Scope and Risk Knowledge Areas, this class addresses the development of a Project Cost Estimate, Project Budget, and the Project Budget Baseline. In addition it addresses the preparation of a spending profile that supports variance analysis and corrective action using Earned Value Management. Using a combination of theory based lecture and hands on exercises, students are provided with an effective skill set for developing and controlling the project budget baseline.
Course Objectives
- Understand the role of cost control within the broader project controls function
- Develop and manage a cost baseline and apply budgeting techniques
- Track project performance using actuals, commitments, and forecasts
- Apply Earned Value Management (EVM) for cost and schedule integration
- Analyze variances (CV, CPI, VAC) and recommend corrective actions
- Manage change orders, claims, and contingency drawdown
- Prepare and interpret cost reports and dashboards for stakeholders
- Improve decision-making through trend analysis and forecasting models
Course Features
- Lectures 9
- Quizzes 0
- Duration 25 hours
- Skill level All levels
- Language English & Arabic
- Students 622
- Certificate Yes
- Assessments Yes
Curriculum
- 4 Sections
- 9 Lessons
- 25 Hours
Expand all sectionsCollapse all sections
- 1. What is the Cost Control?3
- 2. Why Controlling the Cost?1
- 3. Cost Control Reporting Techniques3
- 4. Analysis & Forecasting2
Target audiences
- • Cost Controllers and Cost Engineers
- • Project Control Engineers and Planners
- • Project Managers and Program Managers
- • Construction Managers and Site Engineers
- • Quantity Surveyors and Contract Administrators
- • Professionals involved in budget tracking, financial reporting, or forecasting
- • Anyone seeking hands-on skills in cost management tools and techniques
