Course Category

Project Cost Management (Fourth Edition) - Online

This course was designed as a supplemental study guide for the major content areas of Chapter 7 of A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Fourth Edition. In this course, you will consider the general approaches to cost management, such as the methods that are used to estimate and budget for project costs. You will also learn about the interrelationship of various cost control concepts and possible responses a project management team might make if a project is falling behind schedule or overrunning its budget.

This is Module 5 of the Project Management - PMP® Exam Prep Course (Fourth Edition)

This is an asynchronous eLearning course that can be accessed 24/7 from any internet enabled computer.

• Define cost management and its associated cost management plan
• Explain the various inputs of and methods for estimating activity cost
• Understand how to aggregate activity costs in order to determine budget and both periodic and total project funding requirements
• Understand the cost performance baseline and performance measurement baseline and their importance in earned value management
• Calculate planned value, earned value, actual cost, schedule variance, cost variance, the schedule performance index, and cost performance index
• Understand how baselines, planned value, earned value, and actual cost can be represented in graphic form
• Calculate the budget at completion, estimate at completion, estimate to complete, and the to-complete performance index and use these concepts to forecast the cost requirements of a project
• Identify the warning signs that a project is falling behind schedule or overrunning its budget and explain the various possible responses
• Explain performance-reporting techniques and updates to project documentation
• Understand the various approaches to project selection, including return on investment and internal rate of return