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Why Choose this Training Course?
Why Choose this Online Training Course?
This PetroKnowledge online training course focuses on how to deliver reliable estimates that can result in significant savings later in the project life. To develop reliable cost and schedule estimates is one of the critical management skills and is addressed in this course.
Every project needs good estimates during the design and early conceptual stages of a proposed project, and if not delivered is one reason for project failure. The decision to proceed with a project is often based almost exclusively on conceptual estimates, which estimates provide the basis for the cash flow projections and schedule forecasts during the project feasibility.
This PetroKnowledge online training course will highlight:
Gaining knowledge of project estimating techniques, from concept to final detailed estimate
Understanding the different types of estimates used to accurately and progressively estimate project costs and schedule
Identifying risk sources and minimise 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 online training course, participants will be able to:
Identify and ensure continuous project performance and delivery control
Develop project schedules with associated costs and resources allocated
Utilise earned value management to identify variables and use those to, forecast and control future project performance
Manage and mitigate projects risks related to scope, cost, scope, and resource risks associated with the project
Develop a project recovery plan if needed for major cost and/or schedule overruns
Who is this Training Course for?
Who is this Online Training Course for?
This PetroKnowledge online training course is suitable to a wide range of professionals, but will greatly benefit those who have a role in various projects such as:
Project Procurement and Purchasing Staff
Business Services Professionals with responsibility for preparing cost / schedule estimates and project proposals in client and contracting companies
How will this Training Course be Presented?
How will this Online Training Course be Presented?
This PetroKnowledge online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted online via an Advanced Virtual Learning Platform in the comfort of your choice location.
Any organisation that encourages delegates to participate in this course is going to gain a motivated, engaged workforce who are keen to put the interesting and exciting lessons into practice. These include:
Improved governance around scheduling & budgeting
Visibility of planned project performance
Trustworthy estimations that projects can be built upon
Better awareness of resource needs and associated risks
Ability to respond in time to put recovery into practice.
For participants who will undertake this PetroKnowledge online training course, whether project managers, project leads, or project team members, will learn how to:
Accurately determine the duration of a project, and relevant milestones
Develop the project activities and cash-flow needs
Identify fundamental elements that should be factored into the project
Create useful and realistic schedules
Understand the implications of cash-flow situations for the project
Day One: Project Estimating Basics
Basic project management definitions
Triple Constraints -Time, Cost, Scope
Defining the Project Scope
Cost & Schedule Estimation,
Cost Budgeting & Control
Day Two: Developing Project Budget & Schedule Control
Difference between Planning & Scheduling
Project Schedule Planning and Critical Path Method
Smoothing & Levelling techniques
Options for Accelerating the Schedule
Day Three: Managing the Risk
Risk Identification Techniques
3-Point and PERT usage in Risk Schedules and Cost
Qualitative and Quantitative Analysis
Prioritising Project Risks
Project Risk Response Strategies
Day Four: Measuring Project Performance
Performance management works and the tools to make it work.
Learn the 3 phases of performance management and how to assess it.
Discuss effective goal-setting
Learn how to give feedback on performance management.
Recognize the importance of motivation.
Day Five: Managing and Recovering Project Estimates
Schedule Variances and Cost Variances
Progress Control Charts – Trend Analysis
Schedule and Cost Recovery
Outline a disaster recovery plan
Communicate to the organisation
Project Recovery Baseline 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.