Project Management Foundations: Budgets

Learn how to build and manage your project's budget from Project Management Professional (PMP®) Bob McGannon.

Introduction

• Project budgeting: Focus on value
• The project budget

1. The Budget Planning Process

• Budget estimating parameters
• Budget variables in your budget
• Budget accuracy and precision
• Baselines and contingency for your budget

2. Budget Forecasting

• Forecasting and building a budget
• Balancing competing budget constraints
• Organizational considerations for your budget

3. Measurement Techniques

• Selecting data to analyze when building your budget
• The right metrics for budget management
• Baseline budget performance
• The earned value approach
• Budget forecasting

4. Budget Reporting

• Verifying budget results
• Tracking cost of quality and change
• Budget information sharing

5. Handling Budget Challenges (Exercises)

• Challenge: Making concessions
• Solution: Making concessions
• Challenge: Access to funds
• Solution: Access to funds
• Challenge: Troubleshooting performance
• Solution: Troubleshooting performance

Conclusion

• Your budget management toolkit