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Project Estimating & Scheduling - Creating Realistic Schedules & Budgets

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International Institute for Learning

110 E. 59th Street

31st Floor

New York, NY 10022

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Description

As a Project Management Institute (PMI)® Registered Education Provider (R.E.P.), IIL has agreed to abide by PMI®-established quality assurance criteria.


Prerequisites

Basic project management training or equivalent experience

Course Level

Intermediate/Advanced


Establishing realistic estimates and schedules for projects that support business objectives and meet client expectations is one of the most challenging aspects of project planning. Delivering those results within the agreed upon time, cost and quality constraints is also very challenging.

Attempting to meet impossible deadlines with limited budgets leads to unplanned product shortfalls, which cause long-term support and utilization problems. We have all anguished about this recurring problem, but without having the skills or knowledge to take action, we are unable to break the cycle!

The goal of this course is to equip you with the necessary knowledge, skills, and techniques so that you can establish realistic schedules and budgets for projects that support business objectives and meet client expectations.

Who Should Attend

Those who can benefit from this course include project managers, as well as all project team members who participate in creating, implementing and/or controlling project schedules.

Performance Focus
  • Developing realistic schedules and cost estimates
  • Leveraging the most appropriate tools and techniques for establishing these realistic schedules and cost estimates
  • Using the baseline and additional tools and techniques to effectively control project performance
What You Will Learn

You’ll learn how to:

  • Use the work breakdown structure (WBS) as the basis for effective resourcing, estimating, and scheduling on projects
  • Estimate durations using a variety of techniques
  • Develop reliable preliminary schedules using the critical path method
  • Implement useful adjustments to preliminary schedules
  • Establish realistic schedule and cost baselines, with appropriate risk management plans
  • Explain the value of and interpret reports using Earned Value Management (EVM) to manage time and cost performance on projects
Course Overview

Getting Started

  • Introductions
  • Course Structure
  • Course goals and objective

Foundation Concepts

  • Project management basic concepts
  • Project Estimating and Scheduling (PES)
  • Key Driver: the competing project demands
  • PES process overview
  • PES success factors

Project Definition and the Work Breakdown Structure

  • Project definition overview
  • Work Breakdown Structure (WBS) concepts
  • Decomposition: key technique for developing the WBS

Resource Planning

  • Resource planning overview
  • Identifying resource requirements
  • Identifying and filling resource gaps
  • Applying resource planning tools

Duration Estimating

  • Estimating overview
  • Estimating perspectives
  • Estimating techniques
  • Duration estimating best practices

Project Scheduling

  • Project scheduling overview
  • Dependencies & the project network diagram
  • Critical Path Method (CPM)
  • Optimizing the project schedule

Budget, Risk and Contingency Planning

  • Overview of budget, risk and contingency planning
  • Determining budget
  • Planning risk management
  • Planning contingency reserves

Project Baseline and Control

  • Baseline concepts
  • Negotiating and the project baseline
  • Earned Value Management (EVM)
  • Project variances and corrective actions
  • Facilitating control through reporting

Summary

  • What did we learn, and how can we implement this in our work environments?


When complete, you can earn up to 14 Professional Development Units (PDUs), 6 in the Technical category (PMI-PMP, PMI-PgMP, and PMI-SP only), 6 in the Leadership category, and 2 in the Strategic category.

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International Institute for Learning

110 E. 59th Street

31st Floor

New York, NY 10022

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