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In this course, participants will learn the methods and approaches to cost management used to forecast project costs. Participants will also learn about the interrelationships of various cost control concepts and how to respond to project budget overruns. This course is taught through hands-on activities led by an
experienced project manager and is based on both the PMBOK® Guide versions 6 and 7 incorporating best practices of project management from PMI®. This course can be configured based on client needs.

Objectives:
- Define cost management and its associated cost management plan
- Explain the various inputs of and methods for estimating activity costs
- Describe how to aggregate activity costs to determine budget and both periodic and total project funding
requirements
- Identify the cost baseline and performance measurement baseline and their importance in earned value
management
- Calculate planned value, earned value, actual cost, cost variance, and cost performance index
- Calculate the budget at completion, estimate at completion, estimate to complete, and the to-complete
performance index and use these concepts to forecast the cost requirements of a project
- Identify the warning signs that a project is overrunning its budget and explain the various possible
responses
- Learn performance-reporting techniques and updates to project documentation