Project Management Foundations: Budgets

57mIntermediate2023-02-08

Authors

Bob McGannon

PMP and PRINCE2 Certified Consultant, Author, and Speaker

Course details

In this course, designed for project management professionals and other leads who need to get a handle on their costs, author and Project Management Professional (PMP®) Bob McGannon shows you how to build a solid budget around a work breakdown structure, work with costing standards, and examine capital versus operating costs. Bob then teaches how to build, manage, and monitor the budget and shares tips from the trenches of real projects. Plus, get practical advice on recovering from overruns and dealing with scope changes.

Skills covered

Project Management SkillsProject ManagementFoundations

Concepts

0. Introduction

01 - Project budgeting - Focus on value
02 - The project budget

1. The Budget Planning Process

03 - Budget estimating parameters
04 - Budget variables in your budget
05 - Budget accuracy and precision
06 - Baselines and contingency for your budget

2. Budget Forecasting

07 - Forecasting and building a budget
08 - Balancing competing budget constraints
09 - Organizational considerations for your budget

3. Measurement Techniques

10 - Selecting data to analyze when building your budget
11 - The right metrics for budget management
12 - Baseline budget performance
13 - The earned value approach
14 - Budget forecasting

4. Budget Reporting

15 - Verifying budget results
16 - Tracking cost of quality and change
17 - Budget information sharing

5. Handling Budget Challenges (Exercises)

18 - Challenge - Making concessions
19 - Solution - Making concessions
20 - Challenge - Access to funds
21 - Solution - Access to funds
22 - Challenge - Troubleshooting performance
23 - Solution - Troubleshooting performance

Conclusion

24 - Your budget management toolkit