Full course description
What you'll learn:
Determining projects costs and creating a budget are two critical tasks that all project managers must perform, and they are an important part of earned value management. This course will help you estimate costs, maintain budget, and use earned value management to analyze performance. In addition to establishing a baseline schedule for a project, it is also necessary to develop a baseline budget. The project budget is determined by aggregating the estimated costs for all project activities.
Concepts in this course support the following Project Management Knowledge Areas of the PMI Guide to the Project Management Body of Knowledge (PMBOK® Guide):
- Project Resource Management
- Project Cost Management
Module and Content:
Students will view an in-depth video about “earned value management” basics. They will also have an opportunity to explore some specific features of Microsoft Project 2016*, a project management software system, by viewing tutorial videos and assessments.
* If students would like to complete the steps as outlined in the tutorials, they will need Microsoft Project 2016 and the accompanying file(s) from the course to practice the processes shown in the videos.
- Learn the basics of earned value management.
- Prepare project budgets, including the cost of labor, materials, equipment, and travel.
- Identify project performance measures that will be monitored and evaluated during a project.
- Determine control costs, which is useful in situations where the budget is exceeded or the value of the work is not meeting expectations.
- Determine cash flow management.
Meet the instructor
Jennifer Chandler, Ph.D.
Jennifer L. S. Chandler, Ph.D. is a Lecturer at Arizona State University who teaches in the Organizational Leadership Program in the College of Integrative Sciences and Arts. Before joining ASU, she led projects, taught project management, trained project managers, and evaluated Project Management Programs for over 20 years working with international corporations, federal agencies, and national professional associations. She currently researches leadership practices among scientist and engineering teams who tackle global sustainability challenges.