Budgeting and Scheduling Projects

About the Course

There are countless numbers of projects undertaken by companies in the public and private sectors that greatly exceed the project schedule and budget; as a result, these projects fail to achieve the company's financial and strategic goals. This is often accompanied by significant increases in costs and substantial financial losses for the company because many project managers need help to successfully apply modern project planning tools and techniques and monitor, manage, and report the progression of their projects. The project budget is the engine that drives your project's funding. It communicates to stakeholders how much money is needed and when it is required. Project budgets are important for any industry, such as construction, marketing or manufacturing, but a project budget is not only a means to get things that your project requires. Yes, you must pay teams to buy or rent equipment and materials, but that is only half the story.

This 5-day interactive Budgeting and Scheduling Projects training course will teach the delegates the importance of a project budget that has been an instrument to control project costs. The budget, part of the project plan, acts as a baseline to measure the performance and collect the actual costs once the project has been started.

Core Objectives

The delegates will achieve the following objectives:

• Define milestones and create a milestone schedule
• Identify the resource needs of the project
• Estimate the quantities and costs of resources needed for project activities
• Define what is required to estimate activity durations
• Determine the critical path and calculate the float
• Undertstand the standard cost-estimating techniques to determine a project budget

Training Approach

The delegates of this training course will receive thorough training on the subjects utilising various proven adult learning, teaching, and facilitation techniques. It includes interactive techniques to ensure maximum understanding, comprehension, and retention of the information presented. Evaluation of case studies of energy projects using the latest styles, brief presentations, group exercises, and discussion followed by delegates' results presentations.

The Attendees

Project planning and scheduling skills are vital in this changing world and the rapid developments in the project and business management process. Project managers, accountants, financial managers, project coordinators and others must acquire these skills necessary to achieve the organisation's goals and mission.  

Likewise, it will be valuable to the professionals but not limited to the following:

• Project Team Leaders
• Project Planning Engineers and Managers
• Senior Project Management Officials
• Business Services Professionals who are responsible for Planning and Managing Project Schedules and costs to clients and contracting companies

Daily Discussion

DAY ONE: PROJECT MANAGEMENT PLANNING

• Appoint a Project Manager
• Set Strategic Project Goals and KPIs
• The Project Restrictions
• Establishing Channels of Communication
• Project Planning Stages
• Review Previous, Similar Projects
• Selecting the Right Team
• Have Senior Level Buy-in
• Use an Appropriate Project Management Methodology

DAY TWO: PROJECT MANAGEMENT WORKFLOW

• Identifying the Project Milestone
• Organisation Culture of the Project
• Project Management Workflow Methodologies
• How to use project management workflow systems effectively?
• How to choose the right Project Management Workflow Software?
• Similarities and Differences between Workflow and Project Management
• Advantages of Project Management Workflow

DAY THREE: PROJECT RESOURCE MANAGEMENT

• Create a Project Resource Plan
• Develop a Resource Schedule
• Optimal Resource Allocation
• Resource Optimisation and Resource Constraints
• The Process of Project Time Management
• Define Activities Process and Sequence Activities Process
• Develop Schedule Process
• Project Schedule Network Diagrams
• Estimate Activity Duration Process
• Choose the Right Tool for Managing the Project Time

DAY FOUR: PROJECT SCHEDULING

• How to create a project schedule?
• Types of Project Management Schedules
• Project Scheduling Tools and Techniques
• Maintaining the Schedule Throughout the Project
• Project Scheduling with Workflow Max
• Tips for Creating an Effective Project Schedule
• Change Management Methodologies

DAY FIVE: CORE PROCESS TO MANAGE BUDGET AND SCHEDULE

• Define the Budget at the Outset
• Create a Project Plan and Maintain It
• Define the Project Scope at the Outset
• Define the Budget at the Outset
• Determine the Critical Path
• Create a Risk Management Plan
• Project Recovery Techniques
• Compress Your Schedule
• Constraints