Schedule and Cost Control (Sched Cost Control)

In this course, you will learn the skills you need to effectively establish and manage a realistic schedule and detailed budget. Through hands-on exercises, you'll learn to develop an integrated budget and schedule while monitoring project performance during execution.

You will be introduced to analytical techniques, including creation of a work breakdown structure, network diagramming, dependency analysis, critical path determination, three-point estimating, and assessment of resource needs and availability.

You will learn the management tools that help to ensure projects are delivered on time and within budget, as well as the importance of creating baselines for the project schedules and budgets.

To communicate your project's progress to stakeholders, you'll learn to use earned value analysis and other reporting techniques. . Hands-on exercises will demonstrate the mechanisms and importance of formal change control procedures.

Students pursuing a university-recognized and/or accredited certificate in Canada or continuing education units in the US must attend at least 90% of class time, participate in class exercises and section-knowledge checks, and score at least 72% on an end-of-class, multiple-choice assessment.

Certification

This is a core course for our Associate's and Advanced Certificate of Completion in Project Management Certificates. This is an elective course for our Advanced Certificate of Completion in Business Analysis.

Skills Gained

• How to develop a balanced plan

• Network diagramming methodologies

• Approaches to identifying a project's critical path

• Time and cost estimating techniques

• Scheduling techniques

• How to include various types of cost and expenditures into budgets

• Practical approaches to budget development

• Efficient ways to gauge and report progress using earned value analysis

Who Can Benefit

Associate project managers, project managers, IT project managers, project coordinators, project analysts, project leaders, senior project managers, team leaders, product managers, and program managers.

Course Details

Foundations

• Project Management Life Cycle

• Plan-Do-Check-Act Cycle

• Stakeholder Management

• Principles of Integrated Project Planning

• Project constraints

  • Scope

  • Time

  • Cost

  • Risk

• Defining Project Success

Planning

• Scope Planning

• Estimating Techniques

• Time Analysis

• Schedule Development

• Cost Analysis

• Control Account Plans

• Integrated Risk Management

• Balancing the Plan by Balancing the Constraints

Executing, Monitoring, and Controlling

• Executing the Project Work

• Monitoring Progress

• Earned Value Management

• Controlling Performance

• Communicating with Stakeholders

• Managing Risk During Execution

• Scope Verification and Customer Satisfaction

Closing

• Administrative Closure

• Transitioning Deliverables to their New Owners

• Updates to Organizational Process Assets

• Capturing Lessons Learned

• Preparing the Closing Report

Controlling the Schedule and Budget

• Creating a Baseline Plan

  • Establishing Baselines

  • Types of Baselines

  • The Project Baseline

• Establishing Project Milestones

  • Milestone Chart

• Developing a Project Control Process

  • Guidelines for Project Control

  • Performance Measures

• Tools for Project Control

  • The Earned Value Method of Project Management

  • Looking at Current Project Status with Earned Value

  • Looking Forward with Earned Value

  • Earned Value Management in Practice

• Strategies and Processes for Project Control

  • Status Review Meetings

• Managing Project Change

  • Change Control

  • Change Control Process

  • Additional Tools for Managing Control of the Project

  • Other Project Change Considerations

• Why Projects Are Late and Over Budget