Overview

Effective project management skills are becoming increasingly important. Organisations need good project managers, at all levels, to successfully deliver the change projects that will enable the business to adapt, grow and achieve its strategic objectives. This course provides an essential overview of the core principles behind the discipline of effective budgeting and cost control principles required to deliver small-to-medium sized projects and an introduction to key documentation.
This course is suitable for managers, potential project managers, work-stream leaders or team members who wish to gain an insight into effective budgeting and cost control principles.
This 1-day budgeting and cost control certified course uses a mixture of presentation, discussion and hands-on exercises, addressing topics in a highly engaging, concise and pragmatic manner way.
NOTE: - Earned Value Management is not included in the course material or as a topic for discussion due to time constraints, for those looking for training on Earned Value Management please see the QA Certificate in Earned Value Management course.
Read more

Prerequisites

While there are no formal prerequisites for this course, it is assumed that attendees will have a working knowledge of basic project management and scheduling practices. This may be as a result of attending other project management related courses where these are part of the course syllabus.
Pre-Course Reading
Learners are not provided with any formal pre-reading before this course as such. It is recommended that candidates review the course workbook provided with the joining instructions or via the Mimeo link.
Read more

Delegates will learn how to

  • Understand the language and terminology of effective project budgeting and cost control
  • Understand how a project budget is derived
  • Understand the purpose of an effective cost baseline
  • Understand the components of effective project cost control
  • Understand typical cost reporting
  • Practice understanding through application to a project scenario
Read more

Outline

This highly interactive workshop uses a short case-study to enable delegates to gain confidence in the use of proven techniques in the areas listed below. The course provides a solid foundation for further development of budgeting and cost control skills through self-reading, more advanced training and practical hands-on experience.
Business Case
The business is an integral element in the development and approval of the project based on the evidence it provides to justify the required investment. Investment appraisal is integral to developing the budget.
Planning
As in integral lead into defining the project scope, a review of this process provides the setting for effective budgeting and the governance for cost control.
Scope Management
The captured requirements form the basis of defining the scope for the project. Delegates will recap on the use of various breakdown structures resulting in the RAM and scope baseline.
Project Estimating
Various estimating techniques are investigated, along with discussion on typical estimating problems and how to enhance more effective estimating on the project and develop a realistic and credible budget.
Project Resources
Project resources contribute to the cost of project delivery and hence are integral to developing the budget.
Project Cost Management
The purpose and use of an appropriate Cost Management Plan is covered, leading to setting the budget.
Determine Budget
This module covers the budgeting process to create the cost baseline considering contingency allowances.
Cost Control
Cost control covers the key principles and elements for effective management and control of associated project costs
Integrated Change Control
Change is inevitable and to protect the cost baseline effective controls must be in place.
Cost Reporting
Many different reports are required, with a number of basic reports to inform appropriate stakeholders in place.
Project Closure
This final module considers the requirements for controlled closeout from a budgeting
Certified Budgeting and Cost Control Exam
Each learner will have the opportunity to prepare for and then take the QA Budgeting and Cost Control exam digitally.
Read more

Related Courses

Related courses

QASBP

Virtual/Classroom

QA Certificate in Scheduling Best Practice

From £1,155 +VAT

QAEVM

Virtual/Classroom

QA Certificate in Earned Value Management

From £1,155 +VAT

QARMM

Virtual/Classroom

QA Certificate in Risk Management

From £1,180 +VAT

APMP-5

Virtual/Classroom

APM Project Management Qualification (PMQ)

From £3,700 +VAT

PPMPPCFP

Virtual/Classroom

APMG Project Planning & Control Foundation and Practitioner

From £2,060 +VAT

Frequently asked questions

See all of our FAQs

How can I create an account on myQA.com?

There are a number of ways to create an account. If you are a self-funder, simply select the "Create account" option on the login page.

If you have been booked onto a course by your company, you will receive a confirmation email. From this email, select "Sign into myQA" and you will be taken to the "Create account" page. Complete all of the details and select "Create account".

If you have the booking number you can also go here and select the "I have a booking number" option. Enter the booking reference and your surname. If the details match, you will be taken to the "Create account" page from where you can enter your details and confirm your account.

Find more answers to frequently asked questions in our FAQs: Bookings & Cancellations page.

How do QA’s virtual classroom courses work?

Our virtual classroom courses allow you to access award-winning classroom training, without leaving your home or office. Our learning professionals are specially trained on how to interact with remote attendees and our remote labs ensure all participants can take part in hands-on exercises wherever they are.

We use the WebEx video conferencing platform by Cisco. Before you book, check that you meet the WebEx system requirements and run a test meeting (more details in the link below) to ensure the software is compatible with your firewall settings. If it doesn’t work, try adjusting your settings or contact your IT department about permitting the website.

Learn more about our Virtual Classrooms.

How do QA’s online courses work?

QA online courses, also commonly known as distance learning courses or elearning courses, take the form of interactive software designed for individual learning, but you will also have access to full support from our subject-matter experts for the duration of your course. When you book a QA online learning course you will receive immediate access to it through our e-learning platform and you can start to learn straight away, from any compatible device. Access to the online learning platform is valid for one year from the booking date.

All courses are built around case studies and presented in an engaging format, which includes storytelling elements, video, audio and humour. Every case study is supported by sample documents and a collection of Knowledge Nuggets that provide more in-depth detail on the wider processes.

Learn more about QA’s online courses.

When will I receive my joining instructions?

Joining instructions for QA courses are sent two weeks prior to the course start date, or immediately if the booking is confirmed within this timeframe. For course bookings made via QA but delivered by a third-party supplier, joining instructions are sent to attendees prior to the training course, but timescales vary depending on each supplier’s terms. Read more FAQs.

When will I receive my certificate?

Certificates of Achievement are issued at the end the course, either as a hard copy or via email. Read more here.

Contact Us

Please contact us for more information