Project Budgeting, Estimation and Cost Saving Techniques|Online

Overview

Why Attend

The overall aim of this course is to provide participants with the knowledge and skills needed to estimate project costs and manage project budgets successfully. Participants in this interactive course will learn all the critical tools and techniques required to plan, manage, control, and optimize overall project finances.

Course Methodology

This course relies on individual and group exercises to help participants learn all the critical activities related to project budgeting and cost estimation. It also features several case studies, participant role plays, and discussions. In addition, it incorporates pre- and post-testing.

Course Objectives

By the end of the course, participants will be able to:

Explain the project cost management process and develop project cost management plans
Build a business case and utilize capital budgeting techniques to evaluate long-term investments used in a project
Provide accurate estimates and identify different methods for estimating a project’s overall costs
Develop a project cost baseline and a project budget and explain contingency and management reserves allocated for the project
Identify project variance and calculate project performance metrics using earned value analysis
Apply different cost-saving strategies for projects and implement continuous improvement concepts on project overall finances

Target Audience

Project managers who seek to estimate costs for the activities of their projects, manage project budgets, and learn the different methods that can help in saving project costs.

Target Competencies

Project management
Project planning
Budgeting
Cost estimating
Earned value analysis
Cost savings

Note

Smart has been reviewed and approved by the PMI® Authorized Training Partner Program. This course is worth 30 Professional Development Units (PDUs).

Course Outline

Overview
- Project life cycle
- Project cost management processes
- Cost management plan
Capital Budgeting
- Business case
- Capital budgeting techniques
  - Benefit/Cost Ratio (B/C)
  - Return on Investment (ROI)
  - Payback Period (PBP)
  - Net Present Value (NPV)
  - Internal Rate of Return (IRR)
  - Decision Tree/Expected Monetary Value (EMV)
Cost Estimation
- Building work breakdown structure
- Cost estimating techniques
  - Analogous estimating
  - Parametric modeling
  - Bottom-up estimating
  - Three-point estimating
Project Budgeting
- Cost aggregation
- Contingency reserves
- Management reserves
- Funding limit reconciliation
- Cashflow management
- Project cost optimization
Cost Saving Strategies
- Cost saving strategies for projects
  - Optimize the use of labor
  - Smooth workloads
  - Improve quality of your processes
  - Shorten the project duration
- Value stream mapping
Control Account Management
- Control Account Elements
- Control Account Manager (CAM)
- Variance analysis
- Cost performance metrics
- Schedule performance metrics

Schedule & Fees

2026 Schedule & Fees

15 - 19 Nov, 2026

English
Virtual Learning

Per participant USD 1,300

15 - 19 Nov, 2026

Arabic
Virtual Learning

Per participant USD 1,300

29 Nov - 3 Dec, 2026

English
Virtual Learning

Per participant USD 1,300

29 Nov - 3 Dec, 2026

Arabic
Virtual Learning

Per participant USD 1,300

2027 Schedule & Fees

14 - 18 Feb, 2027

Arabic
Virtual Learning

Per participant USD 1,300

14 - 18 Feb, 2027

English
Virtual Learning

Per participant USD 1,300

28 Feb - 4 Mar, 2027

English
Virtual Learning

Per participant USD 1,300

28 Feb - 4 Mar, 2027

Arabic
Virtual Learning

Per participant USD 1,300

16 - 20 May, 2027

English
Virtual Learning

Per participant USD 1,300

16 - 20 May, 2027

Arabic
Virtual Learning

Per participant USD 1,300

30 May - 3 Jun, 2027

Arabic
Virtual Learning

Per participant USD 1,300

30 May - 3 Jun, 2027

English
Virtual Learning

Per participant USD 1,300

15 - 19 Aug, 2027

English
Virtual Learning

Per participant USD 1,300

15 - 19 Aug, 2027

Arabic
Virtual Learning

Per participant USD 1,300

29 Aug - 2 Sep, 2027

English
Virtual Learning

Per participant USD 1,300

29 Aug - 2 Sep, 2027

Arabic
Virtual Learning

Per participant USD 1,300

14 - 18 Nov, 2027

Arabic
Virtual Learning

Per participant USD 1,300

14 - 18 Nov, 2027

English
Virtual Learning

Per participant USD 1,300

28 Nov - 2 Dec, 2027

Arabic
Virtual Learning

Per participant USD 1,300

28 Nov - 2 Dec, 2027

English
Virtual Learning

Per participant USD 1,300