Learn how to manage your project's budget—a foundational knowledge area from the Project Management Body of Knowledge (PMBOK®).
- Your budget along with scope and schedule is one of the three major constraints you must manage to control your project. Stumble with budget management and you'll quickly lose decision making authority over your project. Hi, I'm Bob McGannon and this is Project Management Foundations Budget, one of the 10 knowledge areas highlighted in the project management body of knowledge. In my 30 years of project management delivering projects on three continents, your budget typically gets the most management attention.
In this course, I'll provide approaches to help ensure you not only maintain control of your project finances, but help you apply foresight to avoid budget overruns. Lose control of your budget and the value of your project will quickly diminish. We need to work hard to avoid that uncomfortable fate. So let's make sure you can manage your budget so it doesn't manage you.
Note: This course follows the latest guidance from Project Management Institute, Inc., as outlined the PMBOK® 6 Guide.
- Recall best practices for project budgeting and estimation.
- Distinguish common estimation approaches used to build project budgets, and understand when to use them.
- Identify best practices for budget expectation management, while utilizing sound budget refinement techniques.
- Describe and explore agile project budgeting techniques.
- Review various approaches for correcting project budget overruns.
- Review sound budget reporting approaches, including how they can be used to report project status.
- Recognize the issues and changes that can put a project budget in jeopardy.