Project Cost Control ACM Training Course

This video will be a quick summary of a training course offered by Administrative Controls Management (ACM) which is an AACE and PMI approved project management trainer with 35 years experience working in the field. The course being offered is Project Cost Control.

This one-day seminar covers the life of cost controls on a project. Cost Control is defined as the application of procedures to monitor expenditures and performance against progress, to measure variance from authorized budgets, and allow effective action to be taken to achieve minimum costs. Sound cost control begins with a budget built from an estimate that is quantified from a defined scope of work.

This course examines the entire Project Cost Control process starting with transitioning of the cost estimate into a cost budget baseline to measure performance; establishing a cost trend program; collection and analysis of costs including commitments, expenditures, and incurred costs for performing analysis; and project cost forecasting. This seminar explains the variations to analyzing contingency and risk and discusses performing contingency and risk calculations and how to capitalize project costs. The differences between project cost control for cost plus contracts and firm fixed contracts are explored.

Other topics included in the seminar: Baseline Budget Development, Tracking Commitments and Actual Costs, Progress Measurement and Earned Value, Effective Change Management, Evaluating Progress and Identifying Trends, Cost Forecasting, Contingency / Risk, and Project Closeout.

Examples and work problems in each of the topics addressed in this seminar are presented and worked through in a workbook provided by ACM. A live instructor will also be there to answer any concerns and engage the group in discussing specific questions about cost control.

Learn more about ACM and the training courses offered by visiting our website:
https://www.acmpm.com/product-categor...

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