Keeping Your Project on Budget (PMI - PMP)

Project Management Professional Certification Program (PMI-PMP)

What you'll learn:

• Identify the inputs to the Control Cost process
• Recognize the tools and techniques you can use to control project costs
• Match earned value management values with their formulas
• Recognize the situations in which different estimate at completion (EAC) formulas are used
• Calculate the to-complete performance index (TCPI) for a project given earned value management (EVM) figures
• Recognize how outputs of the Control Costs process are used
• Calculate the planned value and earned value, given the budget, percent of time passed, and percent of work completed
• Calculate the schedule variance and schedule performance index, given the earned value and planned value
• Calculate the cost variance and cost performance index, given the earned value and actual costs
• Determine project performance, given a set of raw data points
• Utilize work performance data to determine project performance
• Determine the estimate at completion, using the formulas in different scenarios
• Determine Estimate at Completion, in different scenarios
• Demonstrate your understanding of the Control Costs process

The Keeping Your Project on Budget (PMI - PMP) is course 13 of 28 of the Project Management Professional Certification Program (PMI-PMP).

Establishing the budget for a project is a vital process in project management. Yet, it means nothing if the budget is not adhered to. Controlling project cost is critical to meeting a project's budgeted targets.

And monitoring cost performance can mean the difference between the success and failure of a project. In this course, you'll learn about the control cost process. Including helpful techniques you can use to keep your project on budget.

1. Inputs to Control Costs
2. Tools and Techniques to Control Costs
3. Earned Value and Cost Performance
4. Forecasting Using the EAC
5. To-complete Performance Index (TCPI)
6. Outputs of Control Costs
7. Calculating the Planned Value and Earned Value
8. Comparing Schedule Performance against the Plan
9. Comparing Cost Performance against the Plan
10. Determining Project Performance
11. Determining Project Performance
12. Determining Estimate at Completion
13. Determining Estimate at Completion
14. Exercise: Controlling Project Costs

Project budgets rarely remain static. In this course, you'll also gain the skills to handle unexpected costs, scope changes, and potential risks. We'll cover methods to proactively identify cost-influencing factors, along with strategies for creating contingency plans to safeguard your project's financial success.

That’s it! Now go ahead and push that “Take this course” button, and see you on the inside!