Cost unit 2012
- 1. Diploma Project Management Captain Cook College Sharon Boyle
- 2. An Introduction to Cost Course extends to cover the units already covered –Scope & Time Everyone starts Cost today. Everyone continues with Cost ◦ Tomorrow ◦ Next Thursday & Friday
- 3. Everyone has assessment items which can be started today – after ◦ This short presentation ◦ You take the time to read the on-line notes ◦ Check PM BOK – only where necessary/interested Case studies – we can take through most of the course ◦ Building/construction ◦ Community/event based
- 4. 1. Determine project costs 2. Monitor and control project costs 3. Conduct financial completion activities
- 5. ◦ Work up the resource requirements with input from stakeholders ◦ Estimate project costs & agreed cost management processes ◦ Develop & implement a cost management plan subject to Delegated authority Understanding of stakeholders & others Usefulness to management of project finances
- 6. Cost estimating from WBS & resource schedules Cost budgeting - aggregating Cost control – influencing factor impacting on budgets & controlling impact on project
- 7. Carry out the agreed financial monitoring – actual Vs baseline ◦ Identify which cost analysis methods are relevant ◦ Evaluate options ◦ Report to those who need to know ◦ Implement, monitor and respond through out lifecycle. Costs do not let go at any stage.
- 8. Next week we will look at ◦ Earned Value Management ◦ Forecasting cost to complete ◦ Performance reviews ◦ Variance analysis
- 9. Conduct appropriate close out activities ◦ Has everyone been paid? ◦ What about the variations? ◦ Where do we stand? ◦ Detailed records must be kept ◦ Any lessons learnt?
- 10. SB Powerpoint presentation to present Cost ◦ Review all three components of this unit. Today & tomorrow we get all assessments in Project management plan ◦ http://www.youtube.com/watch?feature=endscreen &v=mkymWoHY48Y&NR=1 Cost estimating ◦ http://www.youtube.com/watch?v=hUBdN2slAbo ◦ http://www.youtube.com/watch?v=XhBjEQewHv4
- 11. Master of Ceremonies suddenly taken ill two weeks before event and will not be available for the event. A strong suggestion from Councillors to get a professional. The Council access officer wants to know how the event is to cater meet council’s Universal access policy.