PMP 6 - Project Cost Management (6th Edition)

  3.5 Hours
  PDF Certificate
CEU: 0.35
CPD: 0.5
PDU: 3.5

Course Description

This course was designed as a supplemental study guide for the major content areas of Chapter 7 of A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Sixth Edition. In this course, you will consider how to best estimate costs for activities and the project overall. These estimates will be used to determine a project budget. You will learn how to manage and control project costs, how to participate in earned value management activities, and how to respond if a project is overrunning its budget.

This course aligns with the PMBOK® Guide Sixth Edition. (The PMBOK® Guide is not included in the cost of this course and must be purchased separately.)

Taking advantage of online interactivity, the course contains a vocabulary game, flashcards, and other activities to help you master the material.

Learning Outcomes

After completing this course, the learner should be able to:

  • Define cost management and its associated cost management plan
  • Explain the various inputs of and methods for estimating activity cost
  • 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, schedule variance, cost variance, the schedule performance index, and cost performance index
  • Explain how baselines, planned value, earned value, and actual cost can be represented in graphic form
  • 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 falling behind schedule or overrunning its budget and explain the various possible responses
  • Explain performance-reporting techniques and updates to project documentation
  • Recognize the various approaches to project selection, including return on investment and internal rate of return