Lecture 01 - Introduction to PCM
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Transcript of Lecture 01 - Introduction to PCM
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Project Cost Management
Ahmed Aslam PMP, MPM, ACCA
Introduction to
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Ahmed Aslam [email protected]
CREDENTIALS • Project Management Professional (PMP) Project Management Institute, USA
• Masters in Project Management (MPM) Szabist, Islamabad
• Chartered Certified Accountant (ACCA) Association of Chartered Certified Accountants, UK
EXPERIENCE • Vice-President Strategy/PMP trainer
Project Management Institute Islamabad Chapter
• Director Projects Company operating in the HVAC & Energy sector
• Project Management Instructor Project Finance, Cost, Risk & Change Management
INSTRUCTOR’S PROFILE
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BACKGROUND CHECK
• Name
• Qualification
• Profession
• Expectations
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THE RULES
• Class attendance • Max of 3 Absents/Leaves
• ½ Absent for late coming
• Disqualification on 4th absent
• Constructive discussion • Discussion driven lectures
• Speak on your turn
• No cross arguments
• Use of Mobile phone • Strictly not allowed
• Fine & confiscation
• Breaks • 20 mins at mid time
• Be back on time
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CLASS REPRENSENTATIVE ?
• Responsible for Information exchange between the instructor and students
• Assist the Instructor for managing & conducting the class lecture
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ASSESSMENT CRITERIA
Pre-mid Quiz 5 marks
Pre-mid Project 10 marks
Mid-term exam 30 marks
Post-mid Quiz 5 marks
Post-mid Project 10 marks
Final exam 40 marks
TOTAL 100 marks
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Week 01 – Introduction to Project Cost Management
• Week 02 – Planning Project Costs
• Week 03 – Estimating Project Costs
• Week 04 – Determining a Project Budget
• Week 05 – Class activity/practice questions
• Week 06 – Quiz, Problems & Revision
• Week 07 – Project Presentation
• Week 08 - Mid-term Examination
• Week 09 – Controlling Project Costs
• Week 10 – Earned Value Management
• Week 11 – Earned Value Management (cont.)
• Week 12 – Forecasting techniques
• Week 13 – Class activity/practice questions
• Week 14 – Quiz, Problems & Revision
• Week 15 – Project Presentation
• Week 16 - Final Examination
COURSE OUTLINE
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• Review Project Management basics
• Introduction to Project Cost Management
• Project Cost Management processes
LECTURE OUTLINE
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PROJECT MANAGEMENT
Projects & Operations
Program, Portfolio & Strategy
The five process groups
Ten knowledge areas
The triple constraints
Project Management Office
Role of a Project Manager
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PROJECT COST MANAGEMENT
• Cost is the measurement of resources that
must be expended in order to obtain an object
or complete an activity
• Project Cost Management is a series of
activities for planning, estimating, allocating,
and controlling costs within the project
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PCM PROCESSES
• Plan Costs
• Estimate costs
• Determine Budget
• Control costs
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PLAN COSTS
Establish policies, procedure and documents for managing costs throughout the project
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ESTIMATE COSTS
• Developing an approximation of
the monetary resources needed
to complete project activities
• Prediction that is based on the
information known at a given
point in time
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DETERMINE BUDGET
The process of aggregating the estimated costs of
individual activities or work packages to establish an
authorized COST BASELINE
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CONTROL COSTS
The process of monitoring the status of the project to update the project budget and managing changes to the
COST BASELINE
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LEARNING OUTCOMES
• Revision of Project Management basics
• What is Project Cost Management
• Project Cost Management processes
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