Advanced Project Cost Control and Management

All too often, project costs end up different to how we expect, most often turning out greater than planned. Sometimes this is because we fail to plan them properly, but often it is because we fail to control them well enough. Many things come to bear on cost control, over and above the simple monitoring of transactions, and this includes interface to project risk, progress, change, resources and performance. And planning and budgeting is also influenced by many factors, including ability to estimate, the value of the investment needed and the sequence and timing of spend. Controlling cost is more than just capturing expenditure and forecasting final out turn.

In this course, we will learn how to plan properly and realistically for your project. This includes the extent, type and timing of spend, the risk associated with cost and also the relationship between progress and expenditure. We will gain the skills to determine how much a project will return for the investment made and compare one project against another to see which is the better bet. We will look at techniques to control cost and how to make accurate forecasts of future and total cost, as well as reporting progress in a meaningful fashion.

Projects can be complex undertakings, and at times seem to be ever changing. In this high pressure, dynamic environment, and the looming pandemic.  it’s easy to lose control of your project’s costs and end up over budget. Salvo Global’s online course will give you the knowledge to enable you to effectively manage and control your costs better, and to help your project stay on track. Whether you are a project manager or project cost engineer, it’s vital that you keep your skills and expertise current and stay in control of your project costs.

Top Learning Objectives

  • Evaluate a proposed project from a cost perspective
  • Make a detailed evaluation of a project’s returns
  • Plan project costs appropriately
  • Construct a project budget and evaluate it for suitability
  • Model and control your project cash flow
  • Assess the cost risk exposure of the project
  • Asses the true status of the project’s progress using earned value management
  • Choose the most appropriate cost reporting methods
  • Measure and manage project cost performance
  • Learn the various cost control techniques available to you
  • Describe and appreciate key project management techniques and terminology 

Who Should Attend?

  • Project Managers
  • Cost Managers
  • Project Controls Managers
  • Project Controls Team Members
  • Project Planners & Schedulers
  • Risk Management Staff
  • Project Management Office Staff
  • Project Team Members
  • Project Engineers
  • Cost Controllers & Engineers
  • Project Sponsors
  • Project Consultants
  • Project Specialists

Trainer's Background

The trainer is a Chartered Project Professional (ChPP), Registered Project Professional (RPP), Chartered Engineer (CEng), Chartered Information Technology Professional (CITP), Member, Association for Project Management (MAPM)

  • Over 30 years’ experience of managing projects in a variety of sectors, including oil and gas, IT, power delivery, water and broadcast industries
  • Experienced course instructor, delivering a variety of project management-related courses
  • Reviewer of national project management apprenticeship scheme
  • Founding member and past chair, Association for Project Management (APM) Aberdeen
  • Member Offshore Project Management Steering Group (UK North Sea)
  • Leader UK ECITB Project Management Mentoring Scheme
  • Conducts and commissions active research in the project management field

Event Details

10th – 13th May 2021
8 AM – 11 AM UTC
Online Workshop