PMP 6 - Project Cost Management

Course Description:
 
This course was designed as a supplemental study guide for the major content areas of Chapter 7 of A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Sixth Edition. In this course, you will consider how to best estimate costs for activities and the project overall. These estimates will be used to determine a project budget. You will learn how to manage and control project costs, how to participate in earned value management activities, and how to respond if a project is overrunning its budget.
 
This course aligns with the PMBOK® Guide Sixth Edition. (The PMBOK® Guide is not included in the cost of this course and must be purchased separately.)
 
Taking advantage of online interactivity, the course contains a vocabulary game, flashcards, and other activities to help you master the material.
 
Learning Outcomes:
  • Define cost management and its associated cost management plan
  • Explain the various inputs of and methods for estimating activity cost
  • Describe how to aggregate activity costs to determine budget and both periodic and total project funding requirements
  • Identify the cost baseline and performance measurement baseline and their importance in earned value management
  • Calculate planned value, earned value, actual cost, schedule variance, cost variance, the schedule performance index, and cost performance index
  • Explain how baselines, planned value, earned value, and actual cost can be represented in graphic form
  • Calculate the budget at completion, estimate at completion, estimate to complete, and the to-complete performance index and use these concepts to forecast the cost requirements of a project
  • Identify the warning signs that a project is falling behind schedule or overrunning its budget and explain the various possible responses
  • Explain performance-reporting techniques and updates to project documentation
  • Recognize the various approaches to project selection, including return on investment and internal rate of return
Estimated Length: 3.5 hours
 
CEUs: 0.5 CEUs | 3.5 PDUs
 
Notes:
 
Learners should have some experience in project management and will need to have access to the Project Management Institute®'s A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Sixth Edition.
 
This course has an "Ask the Expert" feature, which submits your questions directly to an expert in the field you are studying. Questions are answered as quickly as possible and usually within 24 hours.
 
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEU credit. Learners will have three attempts at all graded assessments.
 
Project Management Institute, PMI, the Registered Education Provider logo, Project Management Professional, PMP, PgMP, PfMP, Project Management Body of Knowledge, PMBOK, PMI Agile Certified Practitioner, PMI-ACP, PMI Risk Management Professional, PMI-RMP, PMI-SP, PMI-PBA, the PMI Talent Triangle, and the PMI Talent Triangle logo are marks of the Project Management Institute, Inc.
 
Information in this course has been taken from A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) — Sixth Edition, Project Management Institute Inc., 2017.
 
The following list outlines the PDUs you will earn for completing this course, based on the certification you have.
 
PMP®/PgMP®
 
Technical: 2 Leadership: 1
Strategic/Business: 0.5 TOTAL: 3.5
 
PMI-RMP®
 
Technical: 0 Leadership: 1
Strategic/Business: 0.5 TOTAL: 1.5
 
PMI-SP®
 
Technical: 0 Leadership: 1
Strategic/Business: 0.5 TOTAL: 1.5
 
PMI-ACP®
 
Technical: 0 Leadership: 1
Strategic/Business: 0.5 TOTAL: 1.5
 
PfMP®
 
Technical: 0 Leadership: 1
Strategic/Business: 0.5 TOTAL: 1.5
 
PMI-PBA®
 
Technical: 0 Leadership: 1
Strategic/Business: 0.5 TOTAL: 1.5
 


  

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Course Materials

Each participant will receive a complete set of course notes and handouts that will serve as informative references.

$105

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