Project Costing Analysis & Control

This DIXONTECH course equips professionals with practical skills to plan, analyze, and control project costs effectively. It focuses on cost estimation, budgeting, cost control, and performance measurement aligned with global best practices. Participants gain hands-on exposure to financial control tools, variance analysis, and Earned Value Management (EVM) to ensure projects are delivered within approved budgets while maximizing value and accountability.

TRAINING TOPICS

• Project cost management principles and frameworks
• Cost estimation techniques and accuracy levels
• Project budgeting and cost baseline development
• Cost control systems and variance analysis
• Earned Value Management (EVM) applications
• Financial reporting and decision support

BY THE END OF THIS TRAINING COURSE, DELEGATES WILL BE ABLE TO:

• Plan and manage project costs professionally
• Apply accurate cost estimation techniques
• Develop realistic project budgets and baselines
• Monitor and control project financial performance
• Use EVM metrics for informed decisions
• Identify and correct cost variances early

TRAINING IS TAILORED TO

• Project managers and team leaders
• Finance and cost control professionals
• Project controllers and planners
• PMO staff and coordinators
• Engineers managing project budgets
• Professionals involved in project governance

TRAINING METHODOLOGY

The course uses interactive lectures, real-world project cases, financial models, group discussions, and practical exercises. Participants apply tools directly to scenarios, supported by templates and guided analysis to ensure immediate workplace application and measurable learning outcomes.

DAY 1

FOUNDATIONS OF PROJECT COST MANAGEMENT

• Project cost management concepts and objectives
• Relationship between scope, time, and cost
• Cost management processes and lifecycle
• Roles and responsibilities in cost control
• Common causes of project cost overruns

DAY 2

PROJECT COST ESTIMATION TECHNIQUES

• Types of cost estimates and accuracy ranges
• Analogous, parametric, and bottom-up estimating
• Direct, indirect, and overhead cost identification
• Contingency and management reserves planning
• Improving estimate reliability and assumptions

DAY 3

BUDGETING AND COST BASELINE DEVELOPMENT

• From estimates to approved project budget
• Developing cost baselines and cash flow plans
• Time-phased budgeting and funding requirements
• Cost aggregation and funding limits
• Integrating schedule and cost baselines
• Budget approval and control thresholds

DAY 4

COST CONTROL AND VARIANCE ANALYSIS

• Cost control systems and monitoring methods
• Planned value, actual cost, earned value concepts
• Cost variance and schedule variance analysis
• Cost performance index interpretation
• Forecasting final project costs
• Corrective and preventive cost actions
• Managing change impact on project costs

DAY 5

EARNED VALUE MANAGEMENT & REPORTING

• Earned Value Management framework application
• Forecasting techniques and estimate at completion
• Financial performance dashboards and KPIs
• Management reporting for decision-making
• Lessons learned and cost control best practices