IT Project Budget Cost Management

Project Management tips to manage a million dollar IT Project budget from start to finish
IT Project Budget Cost Management
File Size :
6.08 GB
Total length :
5h 18m

Category

Instructor

Daniel Rivera, PMP

Language

Last update

9/2023

Ratings

4.4/5

IT Project Budget Cost Management

What you’ll learn

Students will learn IT Project budget management from the Project Manager perspective.

IT Project Budget Cost Management

Requirements

Familiarity with MS Excel

Description

With over 5 hours of content, this is the most comprehensive course on how to manage a million-dollar software project budget.    Please note that this course is not about construction budget management.Gain hands-on knowledge in all the areas of managing a large project budget – from business case creation through financially closing out your project.Information gathered is from specific past job experience – this is not a theory course but a course to teach you specific step-by-step procedures to manage your project budget.Gain real-world knowledge of project budget management as we work through a sample project with real implications.  The sample project deals with leveraging a software development vendor to build our organization’s new application on the web.Your project management toolkit is not complete without detailed knowledge of how to manage project finances.  This online training course will give you the background to complete your toolkit.Bonuses – Sections end with a “resources” area so that you can download bonus materials and templates based on the content of that section.How long will it take?With over 40 lectures and 5 hours of content, if you budget just 30 minutes a day, you can complete this course in approximately 3 weeks.  Is it for me?This course is for you if you want to learn step-by-step on how to manage a million-dollar budget for a software project.  Remember, this is not a “theory” course but a course to mimic as if you were managing a real-world project.  The skills you learn here can be applied to real-world projects. What if I don’t understand a topic?As you move through the course, I will provide prompts where you can reach out to me on my website with questions or feedback.  I will PERSONALLY get back to you to answer any questions you may have.  I understand that Financial topics are sometimes tricky to understand because I was there also when I first began as a project manager.What you’ll learnHow projects are initiated financially and how these finances play a major role in the project eventually being approved by executive management for execution.Step-by-step estimation skills to prepare your budget for project expenses such as internal resources, contractors, hardware, software, and business travel.  Step-by-step instructions on how to set up your initial project budget based on estimated expenses.An examination as to how actuals are realized against your project budget.  You will also learn step-by-step how to analyze these actuals to determine if incorrect charges are appearing on your project.How to use Finance performance metrics such as Earned Value (EV). Schedule Performance Index (SPI) and Cost Performance Index (CPI).  Remember, this will be based on a real-world scenario and not based on theory.  Step by step procedures to do your monthly and quarterly re-forecasting for your project budget.Understand the change control process so that you may make changes to your project budget whether you’re over or under budget.  Also, learn step-by-step how to re-forecast once your change control is approved.How to financially close out your project and give any unused funds back to the organization so that it may leverage this to fund other projects.Who this course is for:Anyone who wants to transition from their current job role to a career in project / program management.Senior Managers who are new to managing project budgets.  PMO Analysts who want to understand the financial performance of projects.Executive steering committee’s to understand how an execution project budget works after business case approval.Anyone band new to project management to understand how managing costs and budgets work.  The “accidental” project or program manager.

Overview

Section 1: Course Introduction

Lecture 1 Course Introduction

Lecture 2 Course Content Introduction

Section 2: How are Projects Created?

Lecture 3 Introduction

Lecture 4 Project Overview

Lecture 5 Budget Model – Capital

Lecture 6 Financial Model – Operating

Lecture 7 Business Case

Lecture 8 Project Assessment

Lecture 9 Project Approval

Lecture 10 Conclusion

Lecture 11 Resources

Section 3: Budget Planning – Part I

Lecture 12 Introduction

Lecture 13 Planning for Resource Costs

Lecture 14 SOW & Planning for Vendor Costs

Lecture 15 Budget Plan Template Overview

Lecture 16 Conclusion

Lecture 17 Resources

Section 4: Budget Planning – Part II

Lecture 18 Introduction

Lecture 19 Budget Plan Overview – Part 1

Lecture 20 Budget Plan Overview – Part 2

Lecture 21 Conclusion

Section 5: How are Project Costs Realized?

Lecture 22 Introduction

Lecture 23 Internal Labor Actuals

Lecture 24 Vendor Labor or Hardware Costs

Lecture 25 Master SOW Resources

Lecture 26 Time and Expense Charges

Lecture 27 Discussion on Earned Value

Lecture 28 SPI / CPI Discussion

Lecture 29 Conclusion

Lecture 30 Resources

Section 6: Budget Plan Reforecasting – Monthly & Quarterly

Lecture 31 Introduction

Lecture 32 Monthly Reforecasting

Lecture 33 Quarterly Reforecasting

Lecture 34 Conclusion

Section 7: Change Controls

Lecture 35 Introduction

Lecture 36 Change Control Process

Lecture 37 Reforecasting Based on the Change Control

Lecture 38 Conclusion

Lecture 39 Resources

Section 8: Project Closure

Lecture 40 Introduction

Lecture 41 Giving Back Unused Funds to the Organization

Lecture 42 Financially Closing the Project

Lecture 43 Conclusion

Lecture 44 Resources

Section 9: Course Conclusion

Lecture 45 Course Conclusion

Section 10: Resources

Lecture 46 Resources

Section 11: Bonus!

Lecture 47 BONUS

Project Managers, PMO Finance Analysts, Program Managers, Procurement Analysts, Project Analysts, PMO Analysts, IT Business Partners, Financial Managers

Course Information:

Udemy | English | 5h 18m | 6.08 GB
Created by: Daniel Rivera, PMP

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