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Managing Project Budgets
Illustration by Neil Webb

Managing Project Budgets

with Bob McGannon

Video: Welcome

Hi, I'm Bob McGannon, and this is Managing Project Budgets.

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Managing Project Budgets
1h 11m Appropriate for all Apr 28, 2014

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In this course, designed for project management professionals and other leads who need to get a handle on their costs, author and PMP® Bob McGannon shows you how to build a solid budget around a work breakdown structure, work with costing standards, and examine capital versus operating costs. The course then teaches how to build, manage, and monitor the budget and shares tips from the trenches of real projects. Plus, get practical advice on recovering from overruns and dealing with scope changes.

Topics include:
  • Discovering costing standards
  • Examining capital and operating costs
  • Assigning costs to resources
  • Communicating your budget
  • Recovering a bloated budget
  • Addressing budgeting issues
Subjects:
Business Project Management Business Skills
Author:
Bob McGannon

Welcome

Hi, I'm Bob McGannon, and this is Managing Project Budgets. This course provides hints and tips for managing the variety of costs that you need to manage, while delivering the products of your project. As project managers, we need to focus on project estimations, and actual charges against those estimates. Costs form one of the three major constraints project managers must handle. Getting it wrong, can cause you to fail to provide the promised value to your business.

If not, cause your project to be scrapped altogether. We will start by examining the fundamentals of building your project budget, using traditional project management products. Such as your work breakdown structure, and your project schedule. We will talk about various stages of project estimates, and various estimation techniques you can deploy to build your budget. Next, I will describe some easy to use reports to track status against your projected budget. We'll then explore how to recover your budget from overruns, and how you can examine scope changes on your project, to address more significant budgetary issues.

Lastly, we will discuss using your plan, budget, and actual cost data, to allow you to apply foresight to your project direction. I look forward to introducing you to these tools, techniques, and ability to apply foresight to your project, in Managing Project Budgets.

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