An Intensive 5-day Training Course

Project Budgeting & Cost Management

Establishing and Controlling Your Project's Planned Expenditures

NASBA PMI Registered Training Courses

Course Introduction

Many projects run into trouble for two core reasons - they fall behind and miss their deadline or they overspend and break their budget. Why? This course explores the management of project costs and project cashflow. Delegates get to grips with project cost management from financial feasibility through managing project cost expectations at project outset and on to detailed cashflow planning. Not only that, but as projects are executed, this course explains how cost variances may be identified and used to forecast overruns and suggest corrective actions.

This OXFORD Management Centre training course presents generally accepted standard project management practices that enable a project manager to focus on project costs, establish a project budget and use it to report and control project performance.

Objectives

By attending this  course you should learn how to:

  • Understand the benefits of good project cost control for successful project outcomes
  • Perform the action required at each phase of the project cost management lifecycle
  • Establish a cost baseline that incorporates all aspect of project work including the contingency needs typically associated with project uncertainty
  • Specify key quantitative measures for determining the project performance using Earned Value Management (EVM)
  • Provide meaningful project progress reports using EVM together with forecasts of likely outcomes and management options to correct where necessary

Training Methodology

Participants will develop advanced project management performance and control skills and knowledge through formal and interactive learning methods. This Project Budgeting & Cost Management training course includes case studies, group discussion and critical analysis of case material based on a fictional housing construction project.

Although this Oxford Management Centre training course does not assume prior knowledge of the topics covered in the training course, some knowledge of or exposure to project management training will be an advantage. New concepts and tools are introduced gradually to enable delegates to progress from the fundamental to the more advanced concepts of project cost planning, monitoring and control.

Organisational Impact

By implementing the knowledge gained from this Project Budgeting & Cost Management training course, organizations will:

 

  • Enhance organizational maturity by applying standardized cost governance procedures in project management.
  • Gain greater transparency in identifying and managing cost sources.
  • Strengthen employee capabilities in understanding the cost implications of project scheduling and activities.
  • Exercise better control over project expenditures through professional budget management techniques.
  • Improve customer relationships by utilizing project cost management to ensure smooth and controlled project execution.

Personal Impact

By attending this Project Budgeting & Cost Management training course, participants will:

 

  • Apply widely recognized project management practices adaptable to various industries.
  • Gain insights into the importance of a structured project framework for effective expenditure approval and control.
  • Leverage project management expertise to accelerate career advancement and promotion opportunities.

Who Should Attend?

The following roles will find this course particularly useful:

  • Programme managers and other senior personnel responsible for the governance of projects
  • Finance personnel that are interested in expanding their understanding of how project cost data is used to manage the entire lifecycle of projects. These participants will gain insights into how cost data influences financial feasibility, project selection, detailed budgeting and cashflow planning as well as change management and other mechanisms that leverage costs to control project execution.
  • Project managers and project team leaders who wish to build upon and consolidate their project management skills
  • Project planning engineers and heads who need to develop their project management skills
  • Senior project control and business services professionals who have the responsibility for planning, monitoring and controlling, and reporting on project budget and cost performance

Course Outline

Day One

An Overview of Project Management

In this module the participants will learn the PMI PMBoK® globally accepted standard approach to managing projects. This will provide the context for developing and managing the project budget. This module will cover:

  • Basic Project Management Definitions
  • The PMI PMBoK® Project Management Processes
  • Project Phases and Life Cycles
  • Typical Project Terminology
  • Setting-up for Success
  • The Project Cost Management Processes – estimate costs, determine budget and control costs
Day Two

Developing the Project Schedule – Estimating Cost

The basis for good cost control is the development of an accurate Work Breakdown Structure (WBS) on which the work packages depend for accurate estimation. In this module, we will create the overall project schedule and learn how the project cost is tied to each individual project activity. This module will cover:

  • Understanding Project Management Inputs to Estimating Cost
  • Creating the Work Breakdown Structure (WBS)
  • Work Packages as Building Blocks
  • Estimation Techniques
  • Optimising the Schedule
  • Estimating the Overall Project Cost
Day Three

Developing the Project Budget – Determining Budget

Whether working on a simple or complex project all project managers need to develop an accurate budget based on the total resources required for their project. Here the participants will learn how to create the detailed budget and the cost baseline necessary for project control. This module will cover:

  • Understanding Project Management Inputs to Determining Budget
  • Estimating Personnel, Materials and Equipment Costing including Overheads Cost Aggregation
  • Considering the Risk Management Process, Risk Response Planning and Risk Reserves
  • Estimating Risk Response Costs, and Reserve or Contingency Cost
  • The S-Curve for Risk and for Cost
Day Four

Utilising Control Accounts and Effectively Controlling Project Costs

In this module, the participants will learn about setting up Control Accounts, the Project Cost Performance Baseline and the necessary steps to monitoring and controlling the project budget. This module will cover:

  • Control Accounts and the Control Account Plan (CAP)
  • Understanding What Measures are Required
  • Change Control Processes and Re-baselining the Cost Performance Baseline
  • Understanding Project Management Inputs to Controlling Costs
  • Identifying and Managing Hours Worked
  • Tracking Costs
Day Five

Project Performance Measurement, Interpreting and Reporting EVM Results

Whether or not the project manager is familiar with Earned Value Management, it is rapidly becoming the favoured means of tracking project performance. In this module, the participants will learn that for large, complex projects the most accurate way to track progress and performance is through Earned Value Management. Participants will learn about measuring and interpreting EVM results and how to report project status to senior management and customers. This module covers:

  • What is Earned Value Management (EVM)?
  • What are the main measures used for EVM?
  • Analysing Results – variances, performance indices and forecasting
  • Interpreting Results and Considering Options to Redress Unacceptable Variances
  • Forecasting and Developing Response Plans
  • Reporting EVM to Senior Management and Customers

Certificate

Oxford Management Centre Certificate will be provided to delegates who successfully completed the training course.

Accreditation

NASBA
PMI Registered Training Courses

In association with

GLOMACS Training & Consultancy

GLOMACS Training & Consultancy

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KC Academy

KC Academy

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The Energy Training Centre

The Energy Training Centre

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Project Budgeting & Cost Management
Duration
5 days
Format
Classroom, Live/Online
Language
English
Certificate
Yes
Choose the date and location that suits you:
Classroom Sessions
Dubai
23-27 Jun 2025
Fee: $5,950
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London
04-08 Aug 2025
Fee: $5,950
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Barcelona
27-31 Oct 2025
Fee: $5,950
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Dubai
22-26 Dec 2025
Fee: $5,950
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Dubai
22-26 Jun 2026
Fee: $5,950
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London
03-07 Aug 2026
Fee: $5,950
Book your place
Barcelona
26-30 Oct 2026
Fee: $5,950
Book your place
Dubai
21-25 Dec 2026
Fee: $5,950
Book your place
Online Sessions
Live/Online
26-30 May 2025
Fee: $3,950
Book your place
Live/Online
08-12 Jun 2026
Fee: $3,950
Book your place

FREQUENTLY ASKED QUESTIONS

To check on availability please call Registrar’s Office at +971 50 985 0174. If you have any questions or enquiries please feel free to contact us

Yes, we provide assistance in securing both hotel reservations & entry visa on all our international training venues, for delegates attending our training courses. For further information / assistance, please contact our Customer Service at:

Yes, Oxford Management Centre is accredited by the following professional bodies;

National Association of State Board of Accountancy (NASBA)
The Oxford Management Centre is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit.

Yes, discounts are available. For further information please call +971 50 985 0174 or email, [email protected]

Note: Discounts are not applicable with any other special offer that may be available.

There are 2 easy ways to register:

  • Online: Select the training course you want to register for, Click the “Book Your Place” button on the course page, complete the form and click submit.
  • E-mail: Send your details to [email protected]

We request that all cancellations be made at least one week before the class start date. You may reschedule this class without any penalty. If not, a $250 fee will be charged for cancellations received less than one week before a class begins and for no-shows. Cancellation penalties and any fees incurred by Oxford Management Centre will be deducted from refunds.

For more information request, email [email protected] or call +971 50 985 0174.

The classroom training fees include course presentation, relevant materials, physical & digital documentation, lunch and refreshments served during entire training. Accommodation and transportation are not included in the training course fees.

While, online training fees cover the course presentation and digital documentation and relevant materials.

The Oxford Management Centre Certificate of Completion with corresponding CPE credits shall be awarded to delegates who has successfully completed the training course.

Payment must be received before the training course commences. You can make payment by bank draft, cash, credit card or wire transfer.

Note: If the payment is not received, Oxford Management Centre has the right to refuse admission.

Upon receipt of your registration form, we will send you the following by e-mail:

  • Registration Confirmation
  • Invoice/Receipt (where appropriate)

If you register online you will receive an e-mail within 24 hours confirming your registration.


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