Delivering to Budget: Advanced Project Cost Management


Published on

Published in: Education
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Delivering to Budget: Advanced Project Cost Management

  1. 1. marcus evans professional trainingDelivering to Budget:Advanced Project Cost ManagementPROJECT MANAGEMENT SERIES By the end of the course participants will be able to: • Describe the 4 steps of project cost management • Define responsibilities for project cost management • Explain why life-cycle costing should be applied to every project • Describe the 5 different levels of estimates • Apply 3 different approaches to developing a cost estimate • Use cost estimates to prepare and present a project budget • Apply earned value concepts effectively and inexpensively PMPs are eligible to earn 14 PDUs upon completion of this training Participants are encouraged to bring their own project documents for possible use in class exercises and discussions “Beware of little expenses: A small leak will sink a great ship.” Benjamin FranklinEndorser professional training
  2. 2. Delivering to Budget: Advanced Project Cost Management www.marcusevanspt.comOverview:This two-day programme is designed to help you develop project cost management skills that will be immediately useful, usable, and used back on the job. How do we do this?We use real projects as the basis for all of the key exercises. This allows participants to learn in a more realistic environment that is not black and white, but shades of gray - justlike the real world.This programme will help you develop the skills needed to manage costs throughout the project life-cycle. You will learn about different levels of estimating accuracy, differentapproaches to developing estimates, and the crucial difference between estimates and budgets. You will learn about 3 different approaches to preparing cost estimates andwhen to use each one. You will also learn about the “right” way to apply earned value so that your project can benefit from the approach without incurring unreasonableoverhead.Approximately 50% of class time is devoted to casework and experiential learning. During hands-on exercises, you will work as part of a team to analyseresource pools, prepare cost estimates from varying inputs, and compete against other teams in “Milestones: the Game of Projects” to learn how to apply earnedvalue techniques.Key areas to be covered in the programme and documentation Testimonials from Mr.Day One Duncan’s clients:Session One “Bill conducted a brilliant PM trainingSetting the stage for the two-day workshop course at my workplace. The framework• Introductions, ground rules, and expectation setting he provided for planning and executing our vendor management process was• Project cost management activities invaluable to our organization. The course• Cost management vs. financial management had a significant positive impact on how• Types and units of costs we controlled future projects.” TEXAS INSTRUMENTSExercise: Participants will identify their project cost management challenges “I was very happy with the servicesSession Two provided and recommend Bill to any organization seeking improvement in theirPlanning for cost management project management disciplines.• Cost and the project life-cycle Specifically, Bill has an expert’s• Who’s responsible? understanding of the subject matter AND• Do you need a written Cost Management Plan? effective training methodologies. Bill teaches from his vast experience and• Life-cycle costing readily provides real world examples of best practices in project management.”Exercise: Participants will begin developing content for a Project Cost Management Plan R&D DIRECTOR / PDP CHAMPION COVIDIENSession Three TYCO HEALTHCAREResource planning: The starting point• The 5 Ms: Resource categories “Bill led an excellent project management training course at my workplace. The• Defining your resource pool framework he provided for planning and• Forecasting resource productivity executing our large IT projects was• Effort vs. duration and their impact on costs invaluable to our organization. The course had a significant positive impact on how our staff controlled future projects.”Exercise: Participants will document the components of their resource pools CLARKE COUNTY GEORGIASession Four “Bill Duncan is a brilliant and street-smartCost estimating: Striving for accuracy contributor to the practice of Program• 5 levels of estimates: Order of magnitude to definitive and Project Management, in the USA,• The high cost of precision and throughout the World. His insights about any PM-related topic seem to be• Strengths and weaknesses of different approaches accurate and always useful, his facilitation• How and when to prepare a bottom-up estimate and performance in meetings exemplary,• How and when to prepare an analogous estimate and his contributions to my own learning• How and when to prepare a parametric estimate outstanding.” PROJECTEXPERTSExercise: Participants will prepare sample estimates using all 3 types of estimating approaches professional trainingFOCUSED | registration form on page 6 page 2
  3. 3. Delivering to Budget: Advanced Project Cost Management www.marcusevanspt.comTurning ‘Theory’ into ‘Practice’This highly interactive and intensive training course provides attendees with the latest practices, tools and techniques. Our format combines real-world practical case studyexamples, hypothetical scenarios, group exercises and tutorial-style presentations with a focus on collaborative and interactive learning.Day Two Testimonials from our recentSession One training participants:Cost estimating: Striving for accuracy (continued) “Content of training is more than• Cost estimating tools efficient!”• Should-cost estimates PETRONAS• Cost of quality• Basis of estimate “Good exposure for Project Performance Measurements and it was a very fruitful course that I ever attended.”Exercise: Participants will document the basis of estimate for their practice estimates SENIOR PROJECT ENGINEER TECHNIPSession Two “Very good balance of presentationCost budgeting: Developing budgets for effective project control methods: Power point, discussion,• Cost codes and the Work Breakdown Structure excercises-workshops, ideal break times.”• Time-phased budgeting COMMERCIAL MANAGER BALFOUR BEATTY• Risks and assumptions• Reserves and contingencies “Compact Training Manual. All in 2 Days.• Getting the budget approved Well done !!” PROJECT DIRECTORExercise: Participants will evaluate alternative approaches to budget presentation BH MARINE & OFFSHORESession Three “ (Great) Sharing of speakers conceptCost control: Controlling project cost throughout the project life cycle and experience. Sharing lessons learned• Accumulating actuals: Invoices and timesheets with speaker and other participants.” ASSISTANT GENERAL MANAGER• Variances: How big is too big? BOUSTEAD NAVAL SHIPYARD• Adjusting the baseline for approved changes• Re-baselining “Great preparation and brilliant• Reporting options presentation!” FEDERAL TERRITORIESExercise: Participants will analyse different status reports to determine the project’s condition “Training was very thought provokingSession Four and drives reflection on ones ownUsing earned value the right way management style/impact.”• Strengths and weaknesses EXXON MOBIL• Choosing the right approach and the right level for earning value• Forecasting approaches• Choosing corrective action EndorserExercise: Participants will team up to play “Milestones: the Game of Projects” to see how earned value helpsimprove cost control The Project Management InstituteSession Five Malaysia Chapter (PMIMY) is the localRecap and Review chapter of the Project Management Institute• Getting the most from what youve learned: Less is often more (PMI), the world’s leading not-for-profit organization associated with the project• Mapping the tools and techniques to your project cost management challenges management profession. PMI has a global membership of more than 327,000 as at 30th Sep 2010. PMIMY was founded in 1994 in Malaysia to advocate and advance project management excellence and discipline in Malaysia. professional trainingFOCUSED | registration form on page 6 page 3
  4. 4. Delivering to Budget: Advanced Project Cost Management www.marcusevanspt.comBenefits to you• Small class size to enhance learning experience and interaction with trainer and other participants• Learning from expert facilitator on the subject matter• Sharing on latest practices, tools and techniques• Putting theory into practice: Immediate application in the workplaceWho should attend?This training is tailor-made for Programme Managers, Project Directors, Project Managers, and Team Leaders who would like to improve their ability to manage multiple projects effectively.Duration of Course: 2 DaysLocation & Dates: Renaissance Hotel, Kuala Lumpur | 6th & 7th March 2013Course Code: KL-GMP3229Other Project Management Programme in our Portfolio includes:• Project Performance Measurement • Project Resource Planning & Scheduling • Managing Large & Complex Projects• Finance for Project Managers • Leading Successful Project Teams • Project Risk ManagementProgramme scheduleDay One & Two0830 Registration and morning coffee0900 Morning session begins1030 Morning refreshments and networking break1245 Networking luncheon1345 Afternoon session begins1545 Afternoon refreshments and networking break1730 Course concludesAbout your trainerWilliam R. Duncan PresidentProject Management Partners, USWilliam R. Duncan is the President of Project Management Partners, a project management consulting and training firm headquartered in Lexington, MA USA. He is currently Director ofCertification for the American Society for Advancement of Project Management (asapm) and a Board Member of the Global Alliance for Project Performance Standards (GAPPS). In addition,he is the former Director of Standards for both asapm and the Project Management Institute, Inc. (USA).Mr. Duncan has over 40 years of management and consulting experience including five years with a major international consulting firm. He was the primary author of theoriginal (1996) version of A Guide to the Project Management Body of Knowledge. With over 3,000,000 copies distributed worldwide, this seminal work is the most widelyused project management guide in the world today. In addition, his “process model” of project management was used as the basis for ISO 21500, Guidelines for ProjectManagement.Mr. Duncan has authored over 40 articles for publications such as The Project Management Journal, PMNetwork, Projects@Work, and Chief Projects Officer. He has been chosen “Speaker ofthe Year” by three different project management professional associations. He has presented papers at conferences sponsored by asapm, PMI, AIPM, IPMA, FOSTAS, and others.Mr. Duncan has helped clients in North America, Latin America, Europe, and Asia improve their organisational competence in project management. Major clients include Camp Dresser &McKee, China National Communications, Codelco, EMC2, Entergy Corporation, First Data Resources, Golden Telecom, Investors Group, Liberty Mutual Insurance, Manitoba Telephone, One-S, Polaroid, Schlumberger, Sybase, and Texas Instruments.He has also been called upon to provide expert testimony regarding proper project management processes for a major US law firm.He is a 1970 graduate of Brown University in Providence, RI and has done post-graduate work at Boston University and Northeastern.Some of Mr. Duncan’s Clients:• Allied Signal Aerospace • Cabot LNG• Camp Dresser & McKee • Context Integration• First Data Resources • Investors Group• Khafji Joint Operations (Kuwait) • Manitoba Telecom Services• Molecular Systems • Pittsburgh Project Management Center• Polaroid Corporation • Qatar Petroleum• Rizzo Associates (a Tetratech company) • SABIC• State of Oregon • Sybase• Texas Instruments • Toys R Us• US Environmental Protection Agency • Westfield Group• VTB Moscow professional trainingFOCUSED | registration form on page 6 page 4
  5. 5. marcus evansprofessional trainingTrainers – key to our success!marcus evans’ trainers are leading associate trainers. This ensures that our trainers are the best and most appropriate trainers for each individual course in terms of areasof expertise, training style, commercial industry experience and proven results.We choose trainers who are specialists in their respective fields and are dedicated to enhancing the skills and knowledge of our delegates through practical, interactive andapplicable training.Training style – making training dynamic!Our trainers are selected on their ability to inspire, motivate and empower delegates. This is achieved by delivering training that is dynamic and relevant to the day-to-daychallenges delegates face in the real world.All of the training courses offered represent a blend of tried and tested methods as well as the latest tools, techniques, market research, case studies and dynamic waysof thinking.A maximum of 25 delegates per course in deluxe training venues allows for interactive training through group discussion, role-plays and exercises giving delegates the “howto” applicable and adaptable skills that they can use on returning to work.Course content – making it relevant!All delegates complete detailed pre-course questionnaires before the event enabling trainers to tailor course content in order to meet specific delegate needs.Delegate objectives are re-visited before, during and after the event allowing us to focus on outcomes and address any delegate concerns as and when they arise.Where applicable, our trainers also act as coaches in providing one-to-one advice and feedback both during and after the course. To support your learning, we provide extensivedocumentation on all courses including, theory, models, exercises, worksheets, case studies, action plans, slides and further reading and reference material.Course informationUpon receipt of your completed registration form you will receive formal confirmation of your booking. Approximately three weeks before the respective course you will receiveall pre-course information including joining instructions, course timings, venue and accommodation information and pre-course questionnaires.Further informationPlease visit for further course information and training resources including:• Course Booking and Administration Notes• Accommodation Booking Service• Special Offers and email Updates• Recommended Reading Materials• Training Articles and News• Over 50 Public Course Outlines and In-Company Training SolutionsIn-company training solutionsIf you have a number of delegates with similar training needs then you may wish to consider having a cost-effective in-company training solution delivered locally or on-site.Courses can be tailored to specific requirements or developed as bespoke solutions. We also deliver activated teambuilding and leadership in-company workshops.Please contact Sarah Faradilla to discuss further possibilities at +603 2723 6600 or email sarahf@marcusevanskl.commarcus evans professional training courses combine the latest tools, techniques, market research, case studies and dynamic ways of thinking, deliveredby experienced trainers to ensure the skills and knowledge acquired are directly applicable to your organisation.Research the latest concepts, tools, techniques and tried and tested methodsTrainers the highest standard of dynamic trainers with cross-industry experienceTailored detailed pre-course questionnaires to address your objectivesApplicability training relevant to your needs and your workplaceInteractive limited numbers with group exercises, role-plays and feedbackAction planning, implementation and follow-upDocumentation comprehensive supporting notes and further reading materialsVenue deluxe facilities supporting the training environmentMARCUS EVANS PROFESSIONAL TRAINING page 5
  6. 6. Delivering to Budget: Advanced Project Cost ManagementKL-GMP3229 | Please write in BLOCK LETTERS CODESales Contract Register NowPlease complete this form immediately and fax back to Contact Marketing at marcus evans Tel: +603 2723 6604 BERNARDINE MICHAEL Fax: +603 2723 6699 Fax: +603 2723 6699 Email: Date: 6th & 7th March 2013 Name: Venue: Renaissance Hotel, Kuala Lumpur, Position: Malaysia Email: Name: marcus evans Suite A-20-1, Level 20, Hampshire Place Office, 157 Hampshire Position: 1, Jalan Mayang Sari, 50450 Kuala Lumpur, Malaysia Email: Name: Payment Method Position: Payment is required within 5 working days on receipt of invoice Credit Card: Email: Please debit my ■ Visa ■ Mastercard ■ Amex ■ Diners Organisation: Card Holder’s Name: Address: Card Number: ■■■■ ■■■■ ■■■■ ■■■■ Town: State: Security Code: Country: Postcode: ■■■■ Tel: ( ) Fax: ( ) Signature: Expiry Date: / M Y Nature of Business: Confirmation Details: After receiving payment a receipt will be issued. If you do not receive Company Size: ■ 1-9 ■ 10-24 ■ 25-49 ■ 50-99 a letter outlining joining details two weeks prior to the event, please contact the conference ■ 100-249 ■ 250-499 ■ 500-999 ■ 1000+ coordinator at marcus evans conferences. Terms & Conditions 1.Fees are inclusive of programme materials and refreshments. Authorisation 2. Payment Terms: Following completion and return of the registration form, full payment is required within Signatory must be authorised to sign on behalf of contracting organisation. 5 days from receipt of invoice. PLEASE NOTE: payment must be received prior to the conference date. A receipt will be issued on payment. Due to limited conference space, we advise early registration to avoid disappointment. A 50% cancellation fee will be charged under the terms outlined below. We reserve the right to refuse admission if payment is not received on time. Name: 3.Cancellation/Substitution: Provided the total fee has been paid, substitutions at no extra charge up to 14 days before the event are allowed. Substitutions between 14 days and the date of the event will be allowed subject to an administration fee of equal to 10% of the total fee that is to be transferred. Otherwise all Position: bookings carry a 50% cancellation liability immediately after a signed sales contract has been received by marcus evans (as defined above). Cancellations must be received in writing by mail or fax six (6) weeks Signature: Date: / / before the conference is to be held in order to obtain a full credit for any future marcus evans conference. Thereafter, the full conference fee is payable and is nonrefundable. The service charge is completely non- refundable and non-creditable. Payment terms are five days and payment must be made prior to the start of This booking is invalid without a signature. the conference. Non-payment or non-attendance does not constitute cancellation. By signing this contract, the client agrees that in case of dispute or cancellation of this contract that marcus evans will not be able to mitigate its losses for any less than 50% of the total contract value. If, for any reason, marcus evans decides to cancel or postpone this conference, marcus evans is not responsible for covering airfare, hotel, or other travel costs incurred by clients. The conference fee will not be refunded, but can be credited to a future conference. Event programme content is subject to change without notice. Fees 4.Copyright etc: All intellectual property rights in all materials produced or distributed by marcus evans in ■ Training Fees @ USD2,195 + GST / VAT (if applicable) per delegate connection with this event is expressly reserved and any unauthorized duplication, publication or distribution is prohibited. ■ Premier Plus - Bring 3 or more delegates to this event and benefit from a 5.Client information is kept on marcus evans group companies database and used by marcus evans group 10% SAVINGS off the regular price companies to assist in providing selected products and services which maybe of interest to the Client and which will be communicated by letter, phone, fax, (inc. automatic dialling) email or other electronic means. All options inclusive of course papers, luncheon, refreshments & service charge. If you do not want marcus evans to do this please tick this box [ ]. For training and security purposes telephone calls maybe recorded. Indemnity: Should for any reason outside the control of marcus evans conferences, the 6.Important note: While every reasonable effort will be made to adhere to the advertised package, venue or course leader change, or the event be cancelled due to an act of terrorism, extreme marcus evans reserves the right to change event dates, sites or location or omit event features, or merge weather conditions or industrial action, marcus evans conferences shall endeavour to the event with another event, as it deems necessary without penalty and in such situations no refunds, part refunds or alternative offers shall be made. In the event that marcus evans permanently cancels the event reschedule but the client hereby indemnifies and holds marcus evans conferences harmless for any reason whatsoever, (including, but not limited to any force majeure occurrence) and provided that the from and against any and all costs, damages and expenses, including attorneys fees, which are event is not postponed to a later date nor is merged with another event, the Client shall receive a credit note incurred by the client. The construction, validity and performance of this Agreement shall be for the amount that the Client has paid to such permanently cancelled event, valid for up to one year to be governed in all respects by the laws of Malaysia to the exclusive jurisdiction of whose Courts the used at another marcus evans event. No refunds, part refunds or alternative offers shall be made. Parties hereby agree to submit. 7.Governing law: This Agreement shall be governed and construed in accordance with the law of Malaysia and the parties submit to the exclusive jurisdiction of the Malaysian Courts in Kuala Lumpur. However marcus evans only is entitled to waive this right and submit to the jurisdiction of the courts in which the Clients office is located. 8. Client hereby acknowledges that he/she specifically authorizes that marcus evans charge the credit card listed above for the amount provided herein; that this Contract is valid, binding and enforceable; and that he/she has no basis to claim that any payments required under this Contract at any time are improper, disputed or unauthorized in any way. Client acknowledges that they have read and understood all terms of professional training this contract, including, without limitation, the provisions relating to cancellation.