What you'll learn:
- Identify activities that are part of the Project Cost Management Knowledge Area
- Distinguish between the inputs, tools and techniques, and outputs of the Plan Cost Management process
- Identify inputs to the Estimate Costs process
- Distinguish between the tools and techniques you can use to estimate project costs
- Describe how to use the bottom-up estimating technique to estimate project costs
- Match the outputs of the Estimate Costs process to their descriptions
- Recognize the inputs to the Determine Budget process
- Recognize the tools and techniques you can use to determine your project budget
- Identify the outputs of the Determine Budget process
- Demonstrate your understanding of the Estimate Costs and Determine Budget processes
The Creating a Project Budget (PMI - PMP) is course 12 of 28 of the Project Management Professional Certification Program (PMI-PMP).
Let's face it, at the end of the day, projects are really all about profit, no matter what kind of company you work for. Even if you work for a charitable organization or government, nobody wants to see a project lose money.
That's why developing a realistic budget and then managing it well is such a critical part of project management. In this course, you'll learn what goes into a cost management plan, how to estimate costs, and how to establish a realistic cost baseline for your project.
1. Project Cost Management Processes
2. The Plan Cost Management Process
3. Inputs to Estimate Costs
4. Tools and Techniques of Estimate Costs
5. Using the Bottom-up Technique to Estimate Costs
6. Outputs of Estimate Costs
7. Inputs to Determine Budget
8. Tools and Techniques to Determine Budget
9. Outputs of Determine Budget
10. Exercise: Estimating Costs and Developing the Budget
Beyond budgeting basics, this course will equip you with strategies to handle the inevitable financial surprises that can occur in any project. You'll learn how to identify potential cost risks, develop contingency plans to mitigate them, and communicate effectively with stakeholders when budget adjustments become necessary.
That’s it! Now go ahead and push that “Take this course” button, and see you on the inside!
