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Description of  Master Pmp Cost Management - Plan, Budget, Estimate & Control

Published 2/2024 MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz Language: English | Size: 1.27 GB | Duration: 3h 44m Unlock the secrets to staying within budget and boosting project success with expert strategies in PMP Cost Management What you'll learn Understand the process of cost management within the project lifecycle. Identify the key components of project cost management, including estimation, budgeting, and control. Learn various techniques for estimating project costs accurately. Develop skills in creating and managing project budgets effectively. Explore methods for tracking and controlling project costs throughout the project lifecycle. Understand the importance of cost baseline and its role in project management. Learn how to analyze and manage cost variances to ensure project financial health. Gain insights into cost management tools and software used in project management. Explore strategies for managing and optimizing project costs without compromising quality. Understand the implications of cost management decisions on overall project success and stakeholder satisfaction. Requirements Foundational Knowledge of Project Management: Students should have a basic understanding of project management principles, terminology, and processes as outlined in the PMBoK Guide. Understanding of Project Scope Management: A clear grasp of project scope management is essential, as project costs are closely tied to project scope. Students should understand how changes in scope can impact project costs. Familiarity with Project Integration Management: Project cost management is integrated with other project management knowledge areas such as schedule management and quality management. A solid understanding of how these areas intersect is beneficial. Numerical and Analytical Skills: Proficiency in basic arithmetic, financial calculations, and data analysis is necessary for accurate cost estimation, budgeting, and cost control activities. Knowledge of Industry Standards and Best Practices: Familiarity with industry standards and best practices related to cost estimation, budgeting techniques, and cost control methodologies is helpful for applying PMBoK principles effectively in real-world projects. Description Embark on a journey to master the art of Project Cost Management with our comprehensive PMP-focused course designed to empower project professionals to excel in the financial aspects of project management. This course, "Master PMP Cost Management: Plan, Budget & Control," offers an in-depth exploration of the principles and practices essential for managing project costs effectively, ensuring projects are delivered within budget and financial objectives are met.Structured around the Project Management Institute's (PMI) guidelines, this course covers the entire spectrum of cost management, including cost estimation, budgeting, and control. You will delve into the processes of planning cost management to establish the framework and policies for cost planning, estimation, and control. Through a mix of theoretical concepts and practical applications, students will learn to identify the key components of project cost management, develop skills in creating and managing project budgets, and explore methods for tracking and controlling costs throughout the project lifecycle.Our curriculum is designed not only to impart theoretical knowledge but also to provide practical tools and techniques. You'll engage with on-demand video lectures, interactive quizzes, and real-world case studies that bring to life the challenges and solutions in cost management. The course is enriched with detailed sections on estimating costs using various techniques, determining budgets with precision, and mastering earned value management for performance measurement and control.Whether you're a seasoned project manager, a member of a project team, or an executive overseeing project portfolios, this course offers valuable insights and skills to enhance your cost management capabilities. You'll learn about the importance of the cost baseline, strategies for managing and optimizing project costs without compromising quality, and the implications of cost management decisions on overall project success and stakeholder satisfaction.Course Content Breakdown:Plan Cost Management - Introduction & Beyond: Kickstart your journey with a foundational understanding of planning for cost management, including essential inputs, tools, techniques, and a specialized quiz to test your knowledge.Estimate Costs - From Introduction to Outputs: Delve into the intricacies of cost estimation, learning about vital inputs, methodologies, and the outputs that guide financial planning in project management, complemented by a quiz.Determine Budget - Comprehensive Coverage: Explore the components of project budgeting, from introduction to determining budget inputs, tools, and outputs, ensuring you're equipped to allocate financial resources effectively, including a quiz for self-assessment.Earned Value Management - Principles & Practices: Gain insights into the principles of Earned Value Management (EVM), understanding variance analysis and forecasting techniques like Estimate at Completion (EAC) and Variance at Completion (VAC), enriched with problem-solving exercises.Control Costs - Introduction to Outputs: Master the final phase of cost management by learning how to control costs effectively, from understanding inputs to analyzing outputs, with a quiz to consolidate your learning.PMP Quiz - Project Cost Management: Test your knowledge and readiness with a comprehensive PMP quiz focused on Project Cost Management, designed to challenge and refine your understanding. Overview Section 1: Introduction & Understanding the Project Cost Management Knowledge Area Lecture 1 Introduction Lecture 2 Project Cost Management - Introduction Section 2: Planning for Project Costs Lecture 3 Plan Cost Management - Introduction Lecture 4 Plan Cost Management ? Inputs Lecture 5 Plan Cost Management - Tools & Techniques Lecture 6 Plan Cost Management - Outputs Section 3: How is the Estimation of the Cost of a Project Achieved? Lecture 7 Estimate Costs - Introduction Lecture 8 Estimate Costs - Inputs Lecture 9 Estimate Costs - Tools & Techniques Lecture 10 Estimate Costs - Outputs Section 4: Determine the Budget of Your Project Lecture 11 Determine Budget - Introduction Lecture 12 Project Budget Components Lecture 13 Funding Limit Reconciliation Lecture 14 Determine Budget - Inputs Lecture 15 Determine Budget - Tools & Techniques Lecture 16 Determine Budget - Outputs Section 5: Understanding Earned Value Management Lecture 17 Earned Value Management ? Introduction Lecture 18 Principles of Earned Value Management Section 6: The ever-elusive Earned Value Analysis Lecture 19 Variance Analysis - Schedule Variance Lecture 20 Variance Analysis - Cost Variance Lecture 21 Variance Analysis - Schedule Performance Index Lecture 22 Variance Analysis - Cost Performance Index Section 7: Determining the Forecasting Techniques Lecture 23 Forecasting ? Estimate at Completion (EAC) Lecture 24 Forecasting ? Variance at Completion (VAC) Lecture 25 Forecasting ? Estimate to Complete (ETC) Lecture 26 Forecasting ? To Complete Performance Index - BAC Method Lecture 27 Forecasting ? To Complete Performance Index - EAC Method Lecture 28 Earned Variance Analysis ? Problems and Solutions Section 8: How are Costs of a Project Controlled? Lecture 29 Control Costs - Introduction Lecture 30 Control Costs ? Inputs Lecture 31 Control Costs ? Tools & Techniques Lecture 32 Control Costs ? Outputs Section 9: PMP Exam - Project Cost Management Lecture 33 PMP Quiz - Project Cost Management Project Managers: Project managers can benefit significantly from understanding project cost management principles to effectively plan, budget, and control project expenditures. Mastery of cost management techni