Course Details

Training On Project Scheduling and Cost Planning Skills

INTRODUCTION

The Project Scheduling and Cost Planning Skills training program is designed to equip participants with the essential skills to plan, manage, and control project schedules and costs effectively. Accurate scheduling and cost planning are critical for project success, as they ensure that projects are delivered on time, within budget, and with optimal resource utilization. This training emphasizes both theoretical knowledge and practical application, using industry-standard tools and techniques to develop realistic project schedules and budgets.

Participants will learn how to create project timelines, allocate resources, estimate costs, and monitor project progress. This course is ideal for project managers, planners, and anyone involved in managing projects of any scale.

DURATION

5 Days

TARGET AUDIENCE

This training course is suitable to a wide range of professionals but will greatly benefit:

• Those who have a project role such as project managers, cost estimators, project schedulers, project designers, project planner, contract professionals, project procurement and purchasing staff, and project control and business services professionals who have the responsibility for preparing cost / schedule estimates and project proposals in client and contracting companies
• Senior managers who want to understand best practice in project management
• Those who are interested in knowing more about estimation and control in a project environment

OBJECTIVES

By the end of this training, participants will:

• Understand the Fundamentals of Project Scheduling and Cost Planning
• Gain a solid understanding of the principles of project scheduling, cost estimation, budgeting, and resource planning.
• Develop and Manage Project Schedules
• Learn to create project schedules using various techniques such as Gantt charts and the Critical Path Method (CPM) to identify and manage project timelines and milestones.
• Effectively Estimate Project Costs
• Learn the processes of cost estimation, including labor, materials, equipment, and overhead costs, to create accurate and realistic project budgets.
• Master Resource Allocation and Optimization
• Understand how to allocate and optimize resources effectively to prevent bottlenecks and ensure efficient project delivery.
• Monitor and Control Project Schedules and Budgets
• Gain insights into tools and techniques for tracking progress, managing changes, and controlling project schedules and budgets to prevent delays and cost overruns.
• Use Software Tools for Scheduling and Cost Control
• Hands-on training with project management tools like Microsoft Project, Primavera, or other relevant software to automate scheduling and budgeting processes.

COURSE OUTLINE

Module 1: Introduction to Project Scheduling and Cost Planning

• Overview of Project Management Phases:
  • Understanding the project lifecycle and the role of scheduling and cost planning within the phases.
• Introduction to Project Scheduling Concepts:
  • Key principles and terminology (e.g., milestones, dependencies, lead and lag, etc.).
• Introduction to Cost Planning Concepts:
  • Key terms (e.g., direct vs. indirect costs, fixed vs. variable costs, contingency, etc.).

Module 2: Work Breakdown Structure (WBS) and Activity Definition

• Developing a Work Breakdown Structure (WBS):
  • Breaking down project deliverables into manageable tasks and activities.
• Defining Project Activities:
  • Identifying and detailing project tasks and activities, assigning durations, and establishing dependencies.
• Sequencing Activities:
  • Logical sequencing of tasks using network diagrams (Precedence Diagramming Method, Activity-on-Node diagrams).

Module 3: Project Scheduling Techniques

• Gantt Charts and Time Management:
  • Introduction to Gantt charts and how they are used for tracking project timelines.
• Critical Path Method (CPM):
  • Understanding the critical path and how it impacts project timelines.
• Program Evaluation and Review Technique (PERT):
  • Estimating project durations using PERT for projects with uncertain task durations.
• Schedule Compression Techniques:
  • Strategies like crashing and fast-tracking to manage delays and shorten project schedules.

Module 4: Resource Allocation and Leveling

• Identifying Project Resources:
  • Identifying resource needs (labor, equipment, materials) and assigning them to project tasks.
• Resource Allocation Techniques:
  • Allocating resources effectively to avoid resource over-allocation or under-utilization.
• Resource Leveling and Smoothing:
  • Techniques to optimize the resource allocation and avoid conflicts while ensuring smooth project execution.

Module 5: Cost Estimation and Budgeting

• Types of Cost Estimates:
  • Different types of cost estimates (order of magnitude, definitive, preliminary, etc.) and when to use them.
• Cost Estimation Techniques:
  • Techniques for estimating costs, including analogous estimating, parametric estimating, and bottom-up estimating.
• Creating the Project Budget:
  • Developing a comprehensive project budget that includes direct and indirect costs, contingencies, and reserves.
• Cost Baseline and Control:
  • Establishing a cost baseline for project tracking and control.

Module 6: Monitoring and Controlling Project Schedules

• Tracking Project Progress:
  • Methods for tracking and updating project schedules during implementation (Earned Value Management (EVM), schedule variance analysis).
• Managing Schedule Changes:
  • Tools and techniques for managing changes to the project schedule and mitigating risks related to delays.
• Dealing with Schedule Delays:
  • Identifying schedule bottlenecks and implementing corrective actions to mitigate or recover from delays.

Module 7: Monitoring and Controlling Project Costs

• Earned Value Management (EVM):
  • Using EVM to track cost performance and forecast future project costs.
• Cost Control Strategies:
  • Methods for controlling project costs and managing changes to the budget (cost variance analysis, budget revision techniques).
• Contingency Planning and Risk Mitigation:
  • Setting aside contingency reserves and managing financial risks throughout the project lifecycle.

Module 8: Using Project Management Software

• Introduction to Microsoft Project (or Similar Software):
  • Overview of the project management tool, setting up the project calendar, tasks, and resources.
• Creating Schedules and Budgets in Software:
  • Hands-on training in developing project schedules and budgets using project management software.
• Tracking and Reporting:
  • Using software tools to monitor project progress, create reports, and update schedules and budgets in real-time.

Module 9: Reporting and Communication of Project Status

• Project Reporting Techniques:
  • Structuring reports to effectively communicate project status to stakeholders.
• Progress Reporting:
  • Techniques for reporting schedule and budget performance (EVM reports, variance reports, etc.).
• Stakeholder Communication:
  • Strategies for effective communication with project stakeholders, including regular updates, presentations, and progress meetings.

CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com