Training Course on Controlling Project Budgets and Costs
1Summary
Staying within budget is one of the clearest markers of a successful project - and going over it rarely happens by accident. In most cases, poor cost management is the underlying cause, and the fallout doesn't stop at the project itself: it eats into company profits and limits the ability to take on future work.
To close that gap, the Arab British Fellowship Training Academy built this course to develop participants' skills in managing project costs, combining theoretical study with practical exercises based on simulations of real projects.
2Objectives and target group
Who Should Attend?
- Project managers.
- Finance and accounting managers.
- Project owners.
- Entrepreneurs.
How Participants Will Benefit:
By the end of the course, participants will be able to:
- Apply modern technology to project cost management.
- Estimate project costs using recognized estimation methods.
- Set a project budget and manage cost control throughout its life cycle.
- Prepare clear reports on project cost studies.
3Course Content
Module 1: Estimating and Budgeting Project Costs
- Methods of estimating project cost: bottom-up, analogous, parametric, Delphi, and three-point estimating.
- Estimating the cost of resources.
- Setting the project budget.
Module 2: Managing Costs Across the Project Life Cycle
- The concept of a project and the foundations of project management.
- Project stages and cost at each stage.
- Planning project resources - human and physical.
- Controlling costs and linking cost control to project quality management.
Module 3: Reporting and Practical Application
- The concept and importance of project cost study reports, and how to write them.
- Itemized cost calculation.
- A practical simulation of managing project costs.
- Using modern technology in project cost management.