Planning and Managing the Project Budget (2021 Update)

PMI Project Management Professional 2021 Update
  • 15 Videos | 1h 12m 7s
  • Includes Assessment
  • Earns a Badge
  • Certification CPE
  • Certification PMI PDU
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Project management requires some financial savvy. Project cost management involves cost estimates, vendor bid analysis, and determining realistic budgets and then keeping them on track. While terms like cost aggregation and baseline, reserve analysis, and earned value management (EVM) are initially daunting, with some background and work, these tasks and tools can be understood and mastered. In this course, you'll learn to the basics of creating budgets and estimating and controlling costs. You'll explore cost forecasts, estimating using methods like estimate to complete (ETC), estimate at completion (EAC), cost performance index, and bottom-up and analogous estimating. 

WHAT YOU WILL LEARN

  • discover the key concepts covered in this course
    distinguish between the tools and techniques you can use to estimate project costs
    describe how to use the bottom-up estimating technique to estimate project costs
    recognize the tools and techniques you can use to determine your project budget
    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
  • 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 for scenarios 1 and 2
    recognize how the choice of EAC formula depends on the project situation

IN THIS COURSE

  • Playable
    1. 
    Planning and Managing the Project Budget (2021 Update)
    28s
    UP NEXT
  • Playable
    2. 
    Tools and Techniques to Estimate Costs
    4m 43s
  • Locked
    3. 
    Bottom-up Technique to Estimate Costs
    3m 50s
  • Locked
    4. 
    Budget Determination
    4m 29s
  • Locked
    5. 
    Tools and Techniques for Cost Control
    4m 52s
  • Locked
    6. 
    Earned Value Management and Cost Performance
    5m 7s
  • Locked
    7. 
    Estimate at Completion (EAC)
    4m 38s
  • Locked
    8. 
    To-complete Performance Index
    4m 15s
  • Locked
    9. 
    Planned Value and Earned Value Calculations
    5m 29s
  • Locked
    10. 
    Schedule Variance Calculation
    4m 12s
  • Locked
    11. 
    Cost Variance Calculation
    4m 29s
  • Locked
    12. 
    Example 1: Determining Project Performance
    6m 54s
  • Locked
    13. 
    Example 2: Determining Project Performance
    6m 55s
  • Locked
    14. 
    Scenarios 1 & 2: Estimate at Completion
    4m 59s
  • Locked
    15. 
    Scenarios 3 & 4: Estimate at Completion
    6m 48s

EARN A DIGITAL BADGE WHEN YOU COMPLETE THIS COURSE

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