Apply Project Cost Management Techniques

Apply Project Cost Management Techniques

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10+

Hours of learning

Self-paced

Format

10

Number of lessons

10

Hours

Self-paced

Format

10

Lessons

About course

This unit describes the skills and knowledge required to assist in producing a project budget. It also discusses the processes for monitoring project expenditure and preparing cost reports. This unit applies to workers who are project practitioners working in a project support role. No licensing, legislative, regulatory, or project mnagement certification cost requirements apply to this unit at the time of publication.

Chapters

Assist in Developing Project BudgetChapter-1
  • Identify project objectives, duration, deliverables and resource requirements
  • Apply cost-estimating methods and calculate costs of project resource requirements
  • Identify estimated costs for tasks and activities
  • Communicate cost estimates to relevant staff and confirm accuracy and obtain input for project budget and cash flow management
  • Contribute to finalisation of project budget and costs
  • Contribute to developing cost management strategies and processes
  • Monitor income and expenditure against project budget and established cost estimates at predetermined intervals
  • Identify and report variations in budget using established project cost methods, techniques and tools
  • Assist in managing budget and costs using established cost management strategies and processes
  • Confirm cost objectives remain achievable throughout project life cycle
  • Update cost estimates and budget according to income and expenditure
  • Assist relevant personnel to review final project outcomes, budget and costs
  • Seek feedback and identify cost-management improvements
  • Document cost-management improvements based on feedback received

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This unit describes the skills and knowledge required to assist in producing a project budget. It also discusses the processes for monitoring project expenditure and preparing cost reports. This unit applies to workers who are project practitioners working in a project support role. No licensing, legislative, regulatory, or project mnagement certification cost requirements apply to this unit at the time of publication.

Earn a career certificate

Add this credential to your LinkedIn profile, resume or CV. Share it on social media and in your performance review.
Assist in Developing Project BudgetChapter-1
  • Identify project objectives, duration, deliverables and resource requirements
  • Apply cost-estimating methods and calculate costs of project resource requirements
  • Identify estimated costs for tasks and activities
  • Communicate cost estimates to relevant staff and confirm accuracy and obtain input for project budget and cash flow management
  • Contribute to finalisation of project budget and costs
  • Contribute to developing cost management strategies and processes
  • Monitor income and expenditure against project budget and established cost estimates at predetermined intervals
  • Identify and report variations in budget using established project cost methods, techniques and tools
  • Assist in managing budget and costs using established cost management strategies and processes
  • Confirm cost objectives remain achievable throughout project life cycle
  • Update cost estimates and budget according to income and expenditure
  • Assist relevant personnel to review final project outcomes, budget and costs
  • Seek feedback and identify cost-management improvements
  • Document cost-management improvements based on feedback received

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