Scheduling & Cost Control

Overview

In this course you will focus on managing the constraints typical of many a project such as; limits on time, human resources, materials, budget and specifications. Learn to master techniques such as estimating, forecasting, budgeting, monitoring, controlling, analysing and reporting costs and interpreting the meaning of earned value data. Learn a sound, logical framework for scheduling and controlling project activities and discover ways to work within the identified constraints without curtailing creativity and innovation.

Who Should Attend?

This course is suitable for Oil & Gas, Engineering & Construction, Energy & Power, Telecommunications and Public sector individuals who are

  • Executives and senior management staff
  • Construction managers, Engineers, Architects and Consultants
  • Project managers, controllers, team leads, team members
  • Resource and Procurement managers & staff
  • Project documentation and support staff
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Objectives

By the end of this course you will be able to:

  • Use the work breakdown structure to develop a network diagram
  • Calculate schedules using PERT/CPM
  • Identify, assign, and tabulate resource requirements
  • Predict costs and work time using specific levels and estimate types
  • Plan for contingencies and anticipate variations
  • Predict future project performance based on historical data
  • Monitor changes and close out projects on time

Course Topics

Essential Background

  • Overview of the project management life cycle
  • The triple constraint
  • Planning tools
  • Project requirements—a review
  • The work breakdown structure—a review

Resource Allocation and Estimating

  • Using estimates for scheduling and cost control
  • The basic rules of estimating
  • Levels of estimating and estimate types
    • Top-down vs. bottom-up
    • Order of magnitude
    • Budget
    • Definitive
  • Four estimating methodologies
  • Identifying controllable costs
    • Resource
    • Material
    • Direct
    • Indirect
  • Planning for risk with contingency
  • Building the project resource pool
    • Using resources to build estimates
    • The responsibility matrix
  • Time-controlled estimates
  • Resource-limited estimates

Scheduling

  • Network scheduling
  • Validating schedules
  • Arrow diagrams and precedence diagrams
  • Basic scheduling and network calculations
  • Advanced precedence relationships and the critical path
  • Alternative constraints
  • Gantt and milestone charts

The Baseline

  • Establishing baselines
  • Understanding types of baselines
  • Time-phased distribution of costs
  • Cumulative cost curves

Managing Change Within the Project

  • The process of control
  • Identifying sources of change
  • Screening change
  • Updating the project plan
  • Communicating change

Evaluation and Forecasting

  • Causes of variances
  • Establishing the “data date” for evaluation
  • Controlling costs and schedule late in the project
  • Components of the project audit
  • Considerations in establishing a monitoring system
  • Earned value
  • Advanced earned-value forecasting tools

The Exit Strategy

  • Steps in completing the project
  • Scope verification
  • Contract closeout
  • Administrative closure

Duration

4 – 5 days