BUDGET ESTIMATION & COST CONTROL FOR COMPLEX PROJECTS
Mastering Financial Planning and Budget Control to Deliver Successful Complex Projects
Course Schedule
| Date | Venue | Fees (Face-to-Face) |
|---|---|---|
| 25 – 27 Aug 2025 | Doha, Qatar | USD 2495 per delegate |
Course Introduction
Effective budgeting and cost control are critical to the success of complex projects. This course provides in-depth knowledge and hands-on techniques to master budget estimation, monitor expenditures, manage cost-related risks, and align financial control with project objectives.
Participants will gain practical insights into applying advanced tools and strategies for managing budgets throughout the project lifecycle. The course is designed to help professionals prevent budget overruns, improve cost visibility, and optimize resource allocation in high-stakes, multi-dimensional projects.
Course Objectives
By the end of this course, participants will be able to:
- Develop accurate and realistic budget estimates using industry best practices
- Implement effective cost control and monitoring systems
- Identify and manage risks that impact project budgets
- Use earned value management (EVM) for performance tracking and forecasting
- Align project financials with organizational goals and stakeholder expectations
Key Benefits of Attending
- Learn structured approaches to estimate and control project costs
- Prevent cost overruns and optimize project financial performance
- Master forecasting and reporting techniques using practical tools
- Gain confidence in managing budgets for high-value and high-risk projects
- Enhance your strategic value as a project or finance leader
Intended Audience
This program is designed for:
- Project managers and project controllers
- Financial analysts and cost engineers
- Program managers handling large-scale projects
- Procurement and contract professionals
- PMO staff and team leaders involved in project budgeting
- Consultants and advisors in capital-intensive industries
Individual Benefits
Key competencies that will be developed include:
- Cost estimation and control skills across project phases
- Proficiency in using tools like EVM, cash flow forecasts, and cost baselines
- Ability to handle cost-related challenges in complex environments
- Strategic thinking on financial planning in project execution
- Better stakeholder communication through transparent cost reporting
Organization Benefits
Upon completing the training course, participants will demonstrate:
- More accurate and predictable project budgeting
- Improved cost management and financial control processes
- Reduced risk of budget overruns and financial misalignment
- Higher stakeholder confidence in project governance
- Strengthened accountability and financial transparency in projects
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
- Strategy Briefings – Deep dive into cost estimation frameworks, financial planning, and project control techniques
- Case Studies – Real-world cost management scenarios in complex industries
- Workshops – Budgeting exercises, variance analysis, and EVM simulations
- Peer Exchange – Group problem-solving and sharing budget management experiences
- Tools – Budget templates, EVM calculators, risk registers, and cost tracking dashboards
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: Foundations of Budgeting in Complex Projects
Module 1: Introduction to Project Budgeting (07:30 – 09:30)
- The role of budgeting in project success
- Challenges in budgeting complex and multi-phase projects
- Key principles and definitions in project cost management
- Module 2: Cost Estimation Techniques (09:45 – 11:15)
- Top-down vs. bottom-up estimation
- Parametric and analogous estimation
- Building contingency and risk buffers
- Module 3: Workshop: Developing a Project Budget (11:30 – 01:00)
- Hands-on development of a project budget
- Cost breakdown structures (CBS) and resource allocation
- Budget validation and approval
- Module 4: Peer Exchange: Lessons from the Field (02:00 – 03:30)
- Common estimation pitfalls and how to avoid them
- Sharing project budgeting experiences and insights
Day 2: Cost Control Tools and Techniques
- Module 1: Budget Baselines and Cost Performance (07:30 – 09:30)
- Establishing cost baselines and managing scope change
- Forecasting and budget tracking over time
- Understanding cost variance and trends
- Module 2: Earned Value Management (09:45 – 11:15)
- Introduction to EVM metrics: PV, EV, AC, CV, SV, CPI, SPI
- Using EVM to track and forecast performance
- Integrating EVM into project reporting systems
- Module 3: Workshop: Applying EVM (11:30 – 01:00)
- Calculating EVM metrics for a sample project
- Interpreting performance indicators
- Forecasting final project costs
- Module 4: Tools for Cost Monitoring (02:00 – 03:30)
- Software tools and templates for real-time cost tracking
- Integrating financial data with project dashboards
- Automating reporting and alerts
Day 3: Risk, Governance, and Financial Alignment
- Module 1: Managing Financial Risks (07:30 – 09:30)
- Identifying cost risks and triggers
- Using risk registers for financial control
- Developing mitigation and response plans
- Module 2: Budget Governance and Stakeholder Communication (09:45 – 11:15)
- Building governance frameworks for budget accountability
- Financial reporting for sponsors and executives
- Communicating cost impacts effectively
- Module 3: Workshop: Final Budget Review (11:30 – 01:00)
- Review and critique of a full budget scenario
- Defending cost decisions and contingency allocations
- Peer feedback and improvement plans
- Module 4: Certification & Closing (02:00 – 03:30)
- Final Q&A and course review
- Certificate distribution and closing remarks
Certification
Participants will receive a Certificate of Completion in Budget Estimation & Cost Control for Complex Projects, validating their ability to develop, manage, and control project budgets using advanced techniques and real-world tools.