Planning and Cost Management of Engineering Projects

Course Overview

This course discover the key to a successful managing any project are planning and cost management. Creating a project plan is the first thing when undertaking any project and a cost management strategy as well as to have a project budget that realistically reflects the costs for executing the plan. This training covers how to develop project panning, project planning covering WBS, OBS and CBS, cost management strategy, cost estimation and budgeting on projects, and earned value management

The participant will be able to :

·       Apply and enhance the planning on the project

·       Decomposing the project and creating the WBS, OBS and CBS

·       Understand cost management to apply the projects

·       Estimate the cost and project budget and cost control

·       Measure cost performance on project through EVM

Duration

 5 days

Who Should Attend

·       Managers

·       Project Manager

·       Project Engineer

·       Team Leader

·       Planning Engineer

·       Planners

·       Corporate planning

·       Finance

Course Outline

Day 1 - Planning Development

·       Contract Requirement

·       Identifications of Stakeholders

·       Identifications of Resources

·       Considerations and Constraints

·       Predictive life Cycles

·       Value Engineering

Day 2 - Project Planning

·       Planning Output and Deliverable

·       Project Plans

·       Establish Work Breakdown Structure (WBS)

·       Established Organizational Breakdown Structure (OBS)

·       Cost Breakdown Structure (CBS)

·       Risk Management Plant

Day 3 - Cost Management

·       Cost Management Plan

·       Contract Pricing

·       Cost Development and Management

·       Cost Evaluation

·       Identifying and Quantifying Risk

·       Claims

Day 4 - Cost Estimation and Budgeting

·       Overview and Type of Estimate Costs

·       Estimate Cost Process

·       Life Cycle Costing

·       Project Budget

·       Cost Baseline

·       Control Costs

Day 5 - Earned Value Management

·       What is Earned Value?

·       Benefit of Earned Value Management (EVM)

·       Key elements of EVM

·       Earned Value Determination

·       Earned Value Technique

·       Cost Schedule Variance Calculation