Costing is a fundamental measure of the productivity and progression of a project. It is done by allocating financial resources to the tasks in a project after agreeing to the scope, time, and quality requirements. It is an essential aspect of projects used to control and ensures that planned work can be completed.
Course overview
This course focuses on project cost components, how to estimate costs from a work breakdown structure (WBS), and a resource breakdown structure (RBS). It also covers types of estimating methodologies, and how to link credible cost estimates to an earned value management (EVM) system.
Business Lab
This course includes exercises, simulations, and case study that will allow you to apply the ideas from this course and develop the required skills in the following areas:
- Cost estimation techniques – taking ‘The estimation challenge‘
- Using different techniques to allocate costs to types of project work
- Perform earned value analysis
- Respond to cost changes
