Project Cost Control Course
About the Course
This course provides practical techniques for controlling and optimizing construction project costs. Participants will learn budgeting, cost forecasting, variance analysis, earned value management, and corrective actions to keep projects within financial targets.
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Course Outline
1. Introduction to Cost Control Systems
Overview of cost control frameworks and their significance in project management.
2. Defining Cost Categories
Classification and categorization of project costs for better financial tracking.
3. Establishing a Coding System
Developing standardized codes for streamlined cost and resource tracking.
4. Daily Labor Hour Variance
Analyzing deviations in labor hours and their impact on project costs.
5. Cash Flow Analysis and Consolidated Outflows
Techniques to monitor and manage cash flow throughout the project lifecycle.
6. Actual Cost Analysis and Cost Variance Assessment
Evaluating actual expenses against planned budgets to identify variances.
7. Schedule Variance Analysis
Assessing schedule performance to determine delays and their cost implications.
8. Effort Analysis for Schedule Recovery
Calculating the resources and effort needed to bring the project back on track.
9. Cost Control Formulas
Utilizing essential formulas for precise cost tracking and variance analysis.
10. Earned Value Management (EVM) in Cost Control
Applying EVM principles to integrate cost, schedule, and scope management.
11. Forecasting Final Project Costs
Techniques to estimate costs at completion and ensure accurate budgeting.
12. Global Index of Project Performance
Evaluating overall project health through key performance indicators.