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\nHow to Deliver Effective Project Cost Management\n

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\nProject Cost Management can easily seem both dull and difficult. But whatever your attitude to it, there's nothing your finance director will care about more.And that means your client, boss, or project sponsor will care about your cost...\nProject Cost Management can easily seem both dull and difficult. But whatever your attitude to it, there's nothing your finance director will care about more.

And that means your client, boss, or project sponsor will care about your cost management too. After all, your job title may be Project Manager, but your role is to act as a steward. You're a steward for the project and all of its resources: and that includes money.

So, effective cost management is non-negotiable. It isn't your money. So you need to look after it.

And that means two things:

1. Estimating costs and creating your project budget from them
2. Monitoring and controlling project expenditure to adhere to your budget

The Project Management Institute’s (PMI’s) Project Management Body of Knowledge (the PMBoK) has Project Cost Management as one of its ten Knowledge Areas (or KAs).

In this video, I'll take you through all the key aspects of project cost management:

- What project cost management is
- Your ‘Project Cost Management Plan’
- Establishing your costs - the processes of estimating and budgeting
- The governance considerations for project cost management
- Monitoring and controlling project expenditure
- Tailoring your project cost management process\n
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Resource Details

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Educator Rating
Not yet Rated
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Media Length
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18:24
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Grade
10th - Higher Ed
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Subjects
Career & Technical Education
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Media Type
Instructional Videos
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Source:
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\nOnline PM Courses\n\n
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Date
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2020
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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interest rates, elements, time
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Additional Tags

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project cost management, cost management, plan cost management, monitoring project expenditure, project costs, controlling project costs, project cost control, project expenditure, estimate costs, project budget, project cost, project budget management, categories of cost, budget management, mike clayton, project management, onlinepmcourses, estimating costs, budget control, determine budget, control costs, financial review, evm, tcpi, financial management, project manager, business case, rigorous process, indirect costs, final thing, project governance, important part, project sponsor, process, costs, control, sponsor, projects, make, important, thing, document, contingency, tool, management, project, people, include, sense, tools, controlling, expenditure
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