Keeping Your Project on Budget (PMBOK® Guide Sixth Edition)


Overview/Description
Target Audience
Prerequisites
Expected Duration
Lesson Objectives
Course Number
Expertise Level


Overview/Description
Managing projects requires establishing the budget and ensuring it's adhered to. The CAPM® is an asset that will enhance your effectiveness at meeting this obligation. CAPM training will ensure you have the knowledge you need to control the project budget and keep the project on track. This course covers the Control Costs process and includes helpful techniques for cost management.

Target Audience
Existing project managers pursuing certification in recognition of their skills and experience; individuals training to become accredited project managers

Prerequisites
None

Expected Duration (hours)
1.6

Lesson Objectives

Keeping Your Project on Budget (PMBOK® Guide Sixth Edition)

  • identify the inputs to the Control Cost process
  • recognize the tools and techniques you can use to control project costs
  • match earned value management values with their formulas
  • recognize the situations in which different estimate at completion (EAC) formulas are used
  • calculate the to-complete performance index (TCPI) for a project given earned value management (EVM) figures
  • recognize how outputs of the Control Costs process are used
  • calculate the planned value and earned value, given the budget, percent of time passed, and percent of work completed
  • calculate the schedule variance and schedule performance index, given the earned value and planned value
  • calculate the cost variance and cost performance index, given the earned value and actual costs
  • determine project performance, given a set of raw data points
  • utilize work performance data to determine project performance
  • determine the estimate at completion, using the formulas for scenarios 1 and 2
  • recognize how the choice of EAC formula depends on the project situation
  • demonstrate your understanding of the Control Costs process

    • Course Number:
    apj_20_a02_bs_enus

    Expertise Level
    Everyone