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Project Cost Estimating

Posted on 03.10.16

Current Status
Not Enrolled
Price
$54.95
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Price:  US $54.95 (60 day enrollment period)

Cost Estimate Class Logo

All projects require a cost estimate to evaluate the relative benefits of the project, prepare an adequate financial budget for the project, and request funding for the project.  Product, project, and engineering managers all should understand how to prepare and interpret a project cost estimate.  This two-hour course describes the primary processes in project cost estimating including the estimating individual activity costs, preparing a project budget, and monitoring and controlling the cost performance of the project during implementation.

Projects are often evaluated for success by the triple constraint measuring fulfillment of the scope, schedule, and budget.  Thus, project managers are tasked to prepare realistic cost estimates, gain funding for the project, and execute the project within the approved project budget.  Project cost estimating involves sequential processes of estimating costs,determining the budget, and controlling costs.

In this course, you will learn the basics of Project Cost Estimating including different levels of cost estimates, how to prepare a time-phased project budget, and controlling the project costs using the technique of Earned Value Management (EVM).  At the successful completion of this two-hour course, you will be awarded 2 PDHs.  Each lesson is composed of one or more topics which will require an average of two minutes to complete.

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Course Content

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Importance of Project Cost Management Sample Lesson
What is Project Cost Management? 4 Topics | 1 Quiz
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Lesson Content
0% Complete 0/4 Steps
Practice Quiz
Cost Estimating Practice Quiz
Estimating Costs
Determining the Budget
Controlling Costs
What are Costs? 5 Topics | 1 Quiz
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Lesson Content
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Direct Costs
Indirect Costs
Direct or Indirect Cost?
Fixed Costs
Variable Costs
Sunk Costs
Estimating Costs 4 Topics
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Lesson Content
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Rough Order of Magnitude Estimate
Budgetary Estimate
Definitive Estimate
Cost Estimates Summary
Tools and Techniques 5 Topics
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Lesson Content
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Analogous Cost Estimate
Parametric Estimates
Bottom-Up Estimating
Three-Point Estimates
Comparison of Tools and Technqiues
Common Problems with Estimates
Determining the Budget 5 Topics
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Lesson Content
0% Complete 0/5 Steps
Cost Aggregation
Reserve Analysis
Funding Limit Reconciliation
Cost Baseline
Time-Phased Budget
Controlling Costs 5 Topics
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Lesson Content
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Earned Value Management (EVM)
Basic EVM Formulas
Variance (EVM)
Performance Indices
Project Forecasts
Additional Reading
Summary of Cost Estimating 1 Quiz
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Lesson Content
Cost Estimating Final Quiz

Categories: CPEM, NPDP, PMP-General, PMP-Tech Tags: CEU, cost estimate, PDH, PMP

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