Project Budgeting, Estimation and Cost Saving Techniques

This course aims to provide participants with the knowledge and skills needed to estimate project costs and manage project budgets successfully. Participants in this interactive course will learn all the critical tools and techniques required to plan, manage, control, and optimize overall project finances. PrerequisitesNone — open to managers at all levels

5 Days 2 Sessions Starting from USD 1,500 Available Online

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Course Methodology

This course relies on individual and group exercises to help participants learn all the critical activities related to project budgeting and cost estimation. It also features several case studies, participant role-plays, and discussions. In addition, it incorporates pre- and post-testing.

Course Objectives

By the end of the course, participants will be able to:

Explain the project cost management process and develop project cost management plans
Build a business case and utilize capital budgeting techniques to evaluate long-term investments used in a project
Develop accurate estimates and identify different methods for estimating a project’s overall costs
Develop a project cost baseline and a project budget, and explain contingency and management reserves allocated for the project
Apply different cost-saving strategies for projects and implement continuous improvement concepts in a project's overall finances
Identify project variance and calculate project performance metrics using earned value analysis

Target Audience

Project managers who seek to estimate costs for the activities of their projects, manage project budgets, and learn the different methods that can help in saving project costs.

Target Competencies

Project Management Execution
Project Planning & Scope Integration
Project Budgeting & Financial Control
Cost Estimation & Forecasting Accuracy
Earned Value Management & Performance Analysis
Cost Optimization & Efficiency Management

Course Outline

Overview
- Project management benefits
- Project life cycle
- Project S-curve
- Project cost management processes
- Cost management plan
Capital Budgeting
- Business case
- Capital budgeting techniques
  - Benefit/Cost Ratio (B/C)
  - Return on Investment (ROI)
  - Payback Period (PBP)
  - Net Present Value (NPV)
  - Internal Rate of Return (IRR)
  - Decision Tree/Expected Monetary Value (EMV)
Cost Estimation
- Building a Work Breakdown Structure (WBS)
- Cost estimating techniques
  - Analogous estimating
  - Parametric modeling
  - Bottom-up estimating
  - Three-point estimating
Project Budgeting
- Cost aggregation
- Contingency reserves
- Management reserves
- Funding limit reconciliation
- Cashflow management
- Project cost optimization
Cost Saving Strategies for Projects
- Optimizing the use of labor
- Managing procurement
- Value stream mapping
- Smoothing workloads
- Shortening the project duration
- Generating creative cost-saving initiatives
Control Account Management
- Control account elements
- Control Account Manager (CAM)
- Earned Value Analysis (EVA)
- Schedule and cost performance indicators
- Corrective actions and control account adjustments

2026 Schedule & Fees

Course Fees Starting From

USD 1,500

Location & Date

Date	City	Language	Price	Action
21 Jun - 26 Jun, 2026	Online	English	USD 1,500	Book
21 Jun - 26 Jun, 2026	Online	Arabic	USD 1,500	Book

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