We provide a wider range of training options. Tailored and customized, we can deliver your organization’s training needs anytime, anywhere.
Why Choose this Training Course?
Why Choose this Course?
This Project Management training course focuses on how to deliver comprehensive reliable plans with time and cost estimates that gives the owner or sponsor of projects, high levels of confidence for project delivery. In addition, the plans need to be realistic with a full view of any risks faced during and after the project lifecycle.
The decision to proceed with a project is based on early, high level conceptual estimates. However, these can be wide ranging and therefore more detailed estimates need to provide the basis for the cash flow projections and schedule forecasts.
This PetroKnowledge training course will feature:
Gaining knowledge of techniques used in project estimating, from the conceptual stage to the final detailed estimate
Understanding the different types of estimates used to give confidence and progressively estimate project costs and schedule
Identifying risk sources and minimize their impact and learn how to sustain project momentum
Developing effective performance monitoring and control systems
An integrated approach to scope, time, resources and cost management into a dynamic and manageable model
What are the Goals?
What are the Goals?
By the end of this PetroKnowledge training course, participants will be able to:
Confidently estimate project timescales and costs with appropriate resource management plans
Identify, assess and manage schedule, cost, scope, and resource risks
Understand project performance and control
Measure, forecast and control project performance by employing earned value techniques
Develop a project recovery plan for budget and schedule overruns
Who is this Training Course for?
Who is this Course for?
This PetroKnowledge training course is suitable to a wide range of professionals but will greatly benefit:
Those who have a project role such as project managers, cost estimators, project schedulers, project designers, project planner, contract professionals, project procurement and purchasing staff, and project control and business services professionals who have the responsibility for preparing cost / schedule estimates and project proposals in client and contracting companies
Senior managers who want to understand best practice in project management
Those who are interested in knowing more about estimation and control in a project environment
How will this Training Course be Presented?
How will this be Presented?
This training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented.
The training course is highly interactive and presents knowledge through formal and interactive learning methods. The training course includes individual exercises, team projects, applicable case studies, video and group discussions. The material has been designed to enable delegates to apply all of the material with immediate effect at the office.
Additionally, the training course does not assume prior knowledge of the topics covered in the course. New concepts and tools are introduced gradually to enable delegates to progress from the fundamental to the advanced concepts of project risk management.
Day One: Project Estimating Basics
Basic project management definitions
Triple constraints – Time, Cost, Scope
Project selection methods
Defining project scope
Cost & schedule estimation, cost budgeting & control
Project schedule management using the Critical Path Method
Day Two: Developing Project Budget & Schedule Control
Direct & indirect project costs
Planning and scheduling limited resources
Options for accelerating the schedule
Crashing the schedule - How?
Day Three: Managing the Risk
Risk identification, analysis & management
PERT, probability and standard deviation formulae
Network activity risk profiles
Application: Estimating project duration
Project risk strategies
Day Four: Measuring Project Performance
Critical chain analysis and use of buffers
Comparison of unbalanced with balanced schedules
Measuring planned progress on schedule
Risk distribution in contracting
Actual progress and work conditions
Managing variable conditions
Day Five: Managing and Recovering Project Estimates
Schedule variances & cost variances
Progress control charts -trend analysis
Schedule and cost variance forecasting
Schedule and cost recovery analysis
Schedule and cost recovery plan
Project recovery baselines and controls
On successful completion of this training course, a PetroKnowledge Certificate will be
awarded to the delegates
On successful completion of this PetroKnowledge training course, Certificate with
eligible Professional Development Units (PDUs) / Contact Hours from Project Management
Institute (PMI®), will be awarded to the delegates
PMI® Registered Training Course
The Registered Education Provider (R.E.P. ID:4349) status with the Project Management Institute (PMI®) enables PetroKnowledge to issue applicable Professional Development Hours/Units (PDHs/PDUs) to participants on our Project Management oriented training courses, to help them achieve or maintain PMI® professional credentials.