SCHEDULING AND COST CONTROL
Length: 5 Day(s) | Units: | Cost: $1795.00
This combined course is for project managers, estimators, schedulers, project control specialists and project team members responsible managing two of the key recourses of any project - time and money. This course begins with building schedules through the Critical Path Method (CPM) with emphasis on the precedence diagramming method. Gantt charts (bar charts), milestone schedules and the classic activity-on-arrow CPM methods are also taught and demonstrated. The PERT method of duration estimation is taught which provides higher levels of accuracy and confidence in the schedule results. Then, schedule resource loading, schedule acceleration, and resource allocation follow. Budget building, based on the Work Breakdown Structure, and cost control using Earned Value Analysis, follow scheduling. Budgets are taught from the bottoms up method (using the WBS) and top down method (parametric) with discussion addressing the relative accuracies of each. Upon learning the necessary skills of scheduling and cost estimating, the course then shows the participant how to monitor and control the expenditure of time and money throughout the project so that schedule and cost performance trends can be identified and action can be taken meet project goals.
Overview
- Review of WBS development and the importance of work packages
- Use work packages as the basis for duration and cost elements
- Understand the use of Gantt charts, milestone schedules and Critical Path Method (CPM) schedules
- Develop durations from standard estimates, expert opinions or PERT
- Develop a CPM schedule using the precedence diagramming method and perform a forward and backward path
- Use float and the critical path to focus project manager attention and control the project
- Develop a budget using top down methods for programming and rapid estimates
- Develop a budget using bottoms up methods for project controls and monitoring