Project Planning, Scheduling and Cost Estimating Skills Training
Schedule & Fees
Start Date:
30 Dec 2024
End Date:
10 Jan 2025
Venue:
Dubai
Fees:
7400€
Select Other "city & date"
Project Planning, Scheduling and Cost Estimating Skills Training Course
Introduction:
The decision to move forward with a project is frequently reliant on initial conceptual cost estimates, which serve as the foundation for cash flow projections and forecasts during the project's feasibility study. However, if these estimates are unreliable, it can lead to substantial cost overruns during the later stages of the project when containing them becomes challenging.
Accurate and dependable cost estimates are essential for effective project management. They provide a realistic assessment of the financial implications and enable stakeholders to make informed decisions. By relying on unreliable estimates, the project may encounter unforeseen expenses, delays, and disruptions, ultimately impacting its overall success.
Therefore, it is vital to invest time and resources in developing thorough and accurate cost estimates from the project's early stages. This proactive approach helps mitigate the risk of cost overruns and ensures better project planning and control throughout its lifecycle.
Course Objectives:
At the end of this Project Planning, Scheduling and Cost Estimation Planning Skills Training Course, Participant will be able to:
- Gain knowledge of techniques used in resource planning and control.
- Understand the time-cost trade-offs.
- Identify risk sources and minimize their impact and learn how to sustain project momentum.
- Learn how to administer project documentation and reporting.
- Develop effective performance monitoring and control systems.
- Gain knowledge of techniques used in project estimating, from the conceptual stage to the final detailed estimate
- Understand the different types of estimates used to accurately and progressively estimate project costs
- Understand the different types of contracts based on the distribution of risk between contracting parties
- Effectively apply incentive arrangements to get the best results from the contract
Who Should Attend?
Project Planning, Scheduling and Cost Estimation Planning Skills Training Course, is ideal for:
- Project planning engineers,
- Project cost estimators,
- Project designers,
- Project planners and schedulers,
- Contracts professionals,
- Project procurement and purchasing staff,
- Project control and business services professionals who have the responsibility for preparing cost estimates and project proposals in client and contracting companies.
Course Outlines:
Project Scope Planning and Definitions (Fundamentals)
- Introduction to Project Management
- Scope Planning
- Work Packages
- Scope Execution Plan
- Triple Constraints - Time Cost, Scope
- Project Delivery Systems
Project Schedule Planning and Critical Path Method:
- Precedence Network Diagramming
- Job Logic Relationship Chart
- Critical Path Analysis
- Project Float Analysis
- Lead and Lag Scheduling
- Activity Duration Estimation
- Milestone Charts
- Gantt Chart - Schedule Baseline
- Project Estimating Processes
- Production and Productivity Planning
- Resource and Cost Allocation
Accelerating the Project Schedule:
- Circumstances Requiring Project Acceleration
- Time-Cost-Scope Trade-off
- Project Time Reduction
- Direct Project Costs
- Indirect Project Costs
- Options for Accelerating the Schedule
- Crashing the Schedule - How?
- Pre-Accelerated Schedule
- Developing a Crash Cost Table
- Acceleration in Practice
- The Optimal Acceleration Point
- Gantt Chart for Accelerated Schedule
- Network Activity Risk Profiles
- Additional Considerations
- Multiple Critical Paths
- Project Cost Reduction
Project Contingency Planning:
- Program Evaluation and Review Technique (PERT)
- Path Convergence Analysis
- Solving the Path Convergence Problem
- Network Risk Profile Types
- Normal Distribution
- PERT, Probability and Standard Deviation Formulae
- Calculating the Standard Deviation
- Standard Deviation for Critical Path
- Z-Values: The Probability of Project Completion at a Required Date
- True Critical Path
- Network Activity Risk Profiles
- Application: Estimating Project Duration
Line of Balance Scheduling - The Planning of Recurring Activities:
- Preparing a Line of Balance Schedule
- Velocity Diagrams and Linear Scheduling
- Velocity Diagram Production Rate Calculations
- Linear Sequence of Activities as a Series of Velocity Diagrams
- Balancing the Schedule
- Calculations for a Line of Balance Schedule
- Line of Balance Formulae
- Target Units per Week
- Determining Crew Size
- Actual Rate of Output
- Time to Complete One Activity
- Elapsed Time for Recurring Activity