This specialized course focuses on advanced project costing techniques and control mechanisms for effective financial management of projects. Participants will learn comprehensive cost estimation methods, budget development, cost control systems, and financial performance measurement. The curriculum covers both traditional and innovative costing approaches, including activity-based costing, earned value management, and life-cycle costing. Through practical exercises and real-world case studies, attendees will develop the expertise to manage project finances effectively, control costs, and maximize project value while maintaining financial discipline.
Project Costing Analysis & Control
Project and Program Management
October 25, 2025
Introduction
Objectives
- Master project cost estimation techniques
- Learn budget development and management
- Understand cost control systems implementation
- Develop earned value management skills
- Learn life-cycle costing approaches
- Master variance analysis and reporting
- Understand project financial governance
- Learn to optimize project value through cost management
Target Audience
- Project Managers
- Cost Engineers
- Project Controllers
- Finance Managers in Projects
- Quantity Surveyors
- Business Case Developers
- Project Sponsors
- PMO Financial Analysts
Methodology
- Case Studies of Cost Overruns
- Hands-on Cost Estimation Exercises
- Earned Value Calculation Workshops
- Budget Development Simulations
- Group Problem-solving Activities
- Individual Financial Analysis Assignments
Personal Impact
- Enhanced financial analysis skills
- Improved cost management capabilities
- Better understanding of project economics
- Increased confidence in financial decision-making
- Career advancement in project controls
- Professional development in cost management
Organizational Impact
- Improved project financial performance
- Better cost control and reduction
- Enhanced budget adherence and predictability
- Reduced cost overruns and wastage
- Improved return on project investments
- Better financial governance and compliance
Course Outline
Unit 1: Cost Estimation
Estimation Methods- Analogous Estimating Techniques
- Parametric Modeling Approaches
- Bottom-up Estimation Processes
- Three-point Estimating
- Contingency Calculation
Unit 2: Budget Development
Budget Planning- Cost Baseline Establishment
- Funding Requirements Analysis
- Cash Flow Projection
- Labor Rate Calculation
- Material Cost Estimation
Unit 3: Cost Control Systems
Control Framework- Cost Accounting Principles
- Change Control Procedures
- Cost Tracking Mechanisms
- Earned Value Management System
- Cost Performance Indicators
Unit 4: Variance Analysis
Variance Identification- Cost Variance Analysis
- Schedule Variance Calculation
- Trend Analysis Techniques
- Root Cause Analysis
- Recovery Planning
Unit 5: Advanced Cost Topics
Life-cycle Costing- Total Cost of Ownership
- Operational Cost Considerations
- Value Engineering Principles
- Cost-Benefit Analysis
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