PROJECT BUDGETING & COST MANAGEMENT
“Planning, Controlling, and Optimizing Project Costs for On-Time, On-Budget Delivery”
Course Schedule
| Date | Venue | Fees (Face-to-Face) |
|---|---|---|
| 27 – 29 Jan 2025 | Kuala Lumpur, Malaysia | USD 2495 per delegate |
| 18 – 20 Feb 2025 | Kuwait | USD 2495 per delegate |
| 24 – 26 Feb 2025 | Dubai, UAE | USD 2495 per delegate |
| 28 – 30 Apr 2025 | Dubai, UAE | USD 2495 per delegate |
| 04 – 06 Aug 2025 | Manama, Bahrain | USD 2495 per delegate |
| 02 – 04 Sep 2025 | Doha, Qatar | USD 2495 per delegate |
| 08 – 10 Dec 2025 | Dubai, UAE | USD 2495 per delegate |
Course Introduction
In today’s competitive and resource-constrained environment, project success is increasingly measured by financial performance as much as by scope and schedule. Effective budgeting and cost management are critical skills for project leaders tasked with delivering value while controlling risks and costs.
This 3-day course empowers professionals with the principles, tools, and best practices required to plan, monitor, and control project budgets across the project lifecycle. From creating realistic cost estimates to managing variances and forecasts, participants will gain practical skills to ensure financial discipline in project execution.
Course Objectives
By the end of this course, participants will be able to:
- Develop accurate project budgets and cost baselines
- Use cost estimation techniques suitable for various project types
- Apply earned value management (EVM) for tracking performance
- Manage budget risks, changes, and contingencies
- Forecast project costs and cash flow with precision
- Align budgeting practices with stakeholder expectations and strategic goals
Key Benefits of Attending
- Gain hands-on experience in project financial management
- Learn to anticipate and prevent budget overruns
- Apply EVM and variance analysis to track progress
- Build confidence in communicating cost information to stakeholders
- Meet compliance, audit, and reporting requirements effectively
Intended Audience
This program is designed for:
- Project managers and coordinators
- Cost controllers and financial analysts
- Project engineers and planners
- Contract and procurement professionals
- PMO staff and team leads involved in financial oversight
Individual Benefits
Key competencies that will be developed include:
- Cost estimating and budgeting techniques
- Earned value analysis and reporting
- Cost forecasting and control
- Stakeholder financial communication
- Integration of schedule and financial data
Organization Benefits
Upon completing the training course, participants will demonstrate:
- Greater accuracy in project budgeting and forecasting
- Timely detection of cost overruns and corrective actions
- Improved capital planning and project ROI
- Financial accountability and audit-readiness
- Enhanced transparency and control in project execution
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
- Expert-led technical briefings
- Case studies from capital and operational projects
- Excel-based budget models and templates
- Group simulations and cost control challenges
- Hands-on exercises in EVM and variance reporting
Course Outline
Detailed 3-Day Course Outline
Training Hours: 7:30 AM – 3:30 PM
Daily Format: 3–4 Learning Modules | Coffee breaks: 09:30 & 11:15 | Lunch Buffet: 01:00 – 02:00
Day 1: Project Cost Planning and Budget Development
Module 1: Fundamentals of Project Budgeting (07:30 – 09:30)
- Cost breakdown structures and WBS alignment
- Top-down vs. bottom-up estimating
- Defining cost baseline and control accounts
Module 2: Cost Estimating Techniques (09:45 – 11:15)
- Analogous, parametric, three-point estimates
- Reserve analysis and contingencies
- Tools and templates for estimation
Module 3: Developing the Budget and Cash Flow (11:30 – 01:00)
- Time-phased budgets and S-curves
- Linking schedule to cost data
- Cost aggregation and funding strategies
Module 4: Workshop – Build a Project Cost Baseline (02:00 – 03:30)
- Teams develop a full budget structure for a case project
Day 2: Cost Control, Monitoring & EVM
Module 5: Introduction to Earned Value Management (07:30 – 09:30)
- Planned Value (PV), Earned Value (EV), Actual Cost (AC)
- Performance indices (CPI, SPI) and variance analysis
- Forecasting EAC and ETC
Module 6: Budget Monitoring and Variance Reporting (09:45 – 11:15)
- Cost status dashboards and alerts
- Managing cost trends and slippage
- Progress reporting formats and stakeholder updates
Module 7: Change Control and Cost Risk Management (11:30 – 01:00)
- Budget baseline change control
- Assessing financial impact of scope changes
- Mitigation plans and escalation pathways
Module 8: Simulation – EVM Analysis and Forecast (02:00 – 03:30)
- Teams apply EVM to identify deviations and recommend corrective actions
Day 3: Cost Governance, Reporting & Integration
Module 9: Integrating Cost with Schedule and Risk (07:30 – 09:30)
- Aligning project plan with financial plans
- Schedule-driven cost risks
- Resource optimization and time-cost trade-offs
Module 10: Financial Governance and Reporting (09:45 – 11:15)
- Budget ownership and stakeholder roles
- Compliance with audit and finance policies
- Reporting to clients, sponsors, and regulators
Module 11: Final Project Budget Presentation (11:30 – 01:00)
- Each group prepares a cost performance report
- Review of forecasting assumptions and mitigation planning
Module 12: Course Wrap-Up and Certification Briefing (02:00 – 03:30)
- Reflection, peer review, and action planning
- Final Q&A and certificate distribution
Certification
Participants will receive a Certificate of Completion in Project Budgeting & Cost Management,
validating their ability to plan, manage, and report on project finances with control and confidence.