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Project Cost and Value Management
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Week One:

1. Needs assessment and project structuring
Value management features
Efficient project cost and value management
Needs Assessment
Conceptual development
Statement of Work (SOW)
Work Breakdown Structure (WBS)
Product oriented
Process oriented
WBS development tips
2. Estimating project cost
Cost estimate issues
Sources and types of project costs
Cost estimation methods
Quantity and quality
Parametric cost estimation
Cost estimation process
3. The Project Budget
Project budget specifics
Project budget development methods: advantages and disadvantages
Activity-based costing, cost drivers
Sample budget
Time-phased budgets
Contingency budgeting
Disadvantages of allocating contingency funds
Project crashing and how it affects the budget
Week Two:
4. Project performance and cost control
Project Control Process
Integrating time and cost in project performance monitoring the S-curve
Basic concepts of earned value (EV)
Earned value management (EVM)
Earned value analysis and assessment (EVA) case study
Factors affecting EVM
5. Project value management (VM) and risk
The concept of value
The VM approach - KSF/KPI
Project value and risk relationship case study
Using VM in risk assessment
6. Quality management (QM), Cost and value integration
QM in projects
Six Sigma in projects
Value chain model
Cost and value integration strategies Kano model