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Training Course in Project Planning, Scheduling and Cost Estimating Skills

Course: Project Planning, Scheduling and Cost Estimating Skills

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Course: Project Planning, Scheduling and Cost Estimating Skills

Category

Project Management Training Courses

Code

PM-320
Language English

City

Baku (Azerbaijan)

Hotel

Hotel Meeting

Duration

Two weeks 50Hour
2025-02-10 2025-02-21

Fees

7950 €
Durations for this Course
Register for this course
Overeview Course Outline Training Methodology Course Location

The Course

The late delivery of projects have become the scourge of project professionals worldwide. Countless numbers of projects undertaken by organizations in the private and public sectors significantly overrun the project schedule and budget, and as a consequence fail to achieve the organization`s financial and strategic objectives, often with sizable increases in costs and with substantial financial losses to the organization. Why?

This is due mainly to the failure of many project professionals to successfully apply the tools and techniques of modern project planning, scheduling and control to their projects. Likewise, the development of reliable cost estimates during the design and early conceptual stages of a proposed project are of critical importance to the success of the project.

The decision to proceed with a project is often based almost exclusively on early conceptual cost estimates, and these estimates provide the basis for the cash flow projections and forecasts used during the project feasibility study. Unreliable cost estimates can result in significant cost overruns later in the project life when it is too late to contain them.

In addition to the potential financial losses suffered by the organization, many such projects subsequently fail to deliver the required quality of outcomes intended for the project as a direct consequence of poor estimating. Budgeting inaccuracies inevitably result in lower quality workmanship and materials.

The estimating techniques and processes covered in this course will provide delegates with the necessary skills to forecast accurately the anticipated costs of projects with a focus on budget estimates, estimates for pre-construction services, estimating contractor and sub-contractor work, estimating general conditions, pricing self-performed work, estimating negotiated contracts, and performing lump sum and unit-price estimates.

This brand new day course will significantly enhance the skills and knowledge of delegates and improve their ability to properly plan and schedule their projects, as well as perform estimates at both the conceptual and detailed levels, and to compare feasible alternatives quickly and efficiently.

The Structure

This comprehensive programme consists of two modules which can be booked as a Training event, or as individual

Module 1 - Project Scheduling & Contingency Planning Skills

Module 2 - Project Cost Estimating Skills

The Goals

The Primary Objectives of the Seminar are to help delegates to:

  • Gain knowledge of techniques used in resource planning and control.
  • Understand the time-cost trade-offs.
  • Identify risk sources and minimize their impact and learn how to sustain project momentum.
  • Learn how to administer project documentation and reporting.
  • Develop effective performance monitoring and control systems.
  • Gain knowledge of techniques used in project estimating, from the conceptual stage to the final detailed estimate
  • Understand the different types of estimates used to accurately and progressively estimate project costs
  • Understand the different types of contracts based on the distribution of risk between contracting parties
  • Effectively apply incentive arrangements to get the best results from the contract

The Delegates

This course is designed for project planning engineers, project cost estimators, project designers, project planners and schedulers, contracts professionals, project procurement and purchasing staff, and project control and business services professionals who have the responsibility for preparing cost estimates and project proposals in client and contracting companies.

The Process

Delegates will develop advanced project management planning, performance and control, and cost estimating and management skills and knowledge through formal and interactive learning methods. The program includes individual exercises, team projects, applicable case studies, group discussions and video material that bring to life the skills acquired throughout the course.

The material has been designed to enable delegates to apply all of the material with immediate effect at the office.

Additionally, the seminar does not assume prior knowledge of the topics covered in the course. New concepts and tools are introduced gradually to enable delegates to progress from the fundamental to the advanced concepts of project risk management.

The Benefits

  • This Fundamental Program takes the practice of project planning, scheduling and estimating to a new level to ensure maximum results
  • The most recent developments in the field are included to provide fresh inputs to your project management efforts
  • The course takes a practical rather than a theoretical approach by introducing a case study so that new skills can be applied with immediate effect
  • High quality videos of substantial projects of different kinds are screened and discussed during the seminar
  • Group activities and exercises will ensure mastery of the practical application of new skills learned
  • The use of software programs to facilitate the incorporation of many advanced techniques are introduced
  • Related project management fields such as risk are continuously incorporated to provide an integrated view of the total project management process
  • Delegates will have excellent opportunities for interaction and discussion of best practices at their respective organizations
  • This course will equip delegates with the skills and knowledge to significantly improve all levels of project estimating and control in the organization
  • The program will be an important stepping stone in terms of personal career development in that it prepares delegates for the internationally recognized Project Management Professional (PMP) exam

The Results

This intensive seminar will provide delegates with a proven set of critical skills and techniques for the development a systematic and dynamic project plan and schedule, as well as the ability and skills to develop accurate and reliable conceptual and detailed estimates used for project proposals and final estimates.

This will enable delegates to:

  • Integrate scope, time, resources and cost management into a dynamic, manageable plan
  • Develop project network diagrams for CPM and advanced PERT calculations to identify schedule and cost risks
  • Maintain continuous project performance and delivery control
  • Accurately estimate and allocate project costs and resources
  • Measure, forecast and control project performance by employing earned value techniques
  • Compress or accelerate the schedule when required by adverse circumstances
  • Manage and mitigate schedule, cost, scope, and resource risks associated with the project
  • Develop line of balance schedules and velocity diagrams for repetitive or recurring work
  • Benefit from the financial effects of the learning curve on recurring work
  • Develop a project recovery plan for budget and schedule overruns
  • Produce clear and concise project progress reports
  • Integrate all relevant project elements into a cohesive and comprehensive cost estimate
  • Prepare budget estimates that will enable the owner-organization to make informed decisions as to the feasibility of a potential project
  • Compare the costs of alternative strategies or technical approaches to ensure the most economical project at the desired level of quality
  • Structure the contract compensation arrangement to provide the highest level of incentives to complete the project on schedule and within the determined budget
  • Keep accurate control of the progressive budgeting process based on the various stages of design
  • Prepare accurate budget estimates through the programming phase, the schematic design phase, and finally the design development phase
  • Understanding the most appropriate contracting structure to ensure the desired project results
  • Apply proper risk analysis to effectively mitigate risks at minimal costs, and to determine appropriate contingencies for residual risks
  • Obtain the skills required to prepare and manage the bidding process
  • Prepare lump-sum, unit-price, cost plus, and time-and-materials estimates and contracts

The Core Competencies

  • Ability to deliver projects on time and within budget.
  • Understanding of what it takes to be a successful project manager.
  • Skill and confidence to plan and control projects successfully and ability to sidestep the most common project management pitfalls and problems.
  • Appreciation of the philosophy, framework, standards and approaches to the delivery of the projects.
  • Understanding and practicing effective project management techniques in successfully completing and handing over projects.
  • Developing an initial project budget for the owner
  • Determining project feasibility
  • Designing the project within the owner`s budget
  • Evaluating alternative design concepts and project components
  • Preparing bids
  • Preparing cost proposals
  • Establishing project budgets
  • Determining the cost impacts of change orders
  • Substantiating claims and resolving disputes
  • Preparing a Schedule of Values
  • Creating historical cost databases to improve future estimating accuracy
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