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Project Management: Cost Tools & Techniques

Project costs are one of the factors that are typically used to measure a project’s success. Being able to properly estimate, measure and effectively communicate project costs is a critical success factor for a Project Manager. Cost management includes the policies, processes and procedures and utilizing them to effectively manage this important project component.

In this course, participants will learn the generally accepted industry estimating techniques and tools for capturing, measuring and forecasting project costs.

After this class, you will be able to:

  • Estimate project costs
  • Apply techniques to measure costs
  • Respond appropriately to cost variances
  • Utilize methods to control project costs

Course Content


Lesson 1. Plan Cost Management

  • Determine how to manage costs and the relationship with other project elements
  • Define how costs will be measured, processes and reporting

Lesson 2. Estimate Cost

  • Applying appropriate cost estimates
  • Utilizing estimating techniques

Lesson 3. Determine Budget

  • Applying estimates to determine project budget

Lesson 4. Control Costs

    Utilizing Earned Value Management to determine project progress
  • Applying Earned Value Management to determine if and when corrective action should be taken