Introduction:
This Project Scheduling, Cost Planning & Value Engineering Skills training course adopts a systematic step-by-step methodology to support the initiation, planning, execution, monitoring and control and closure of projects. It covers the key elements of roles and responsibilities, planning techniques, forming and managing a multi-disciplinary project team to generate solutions and recommend alternatives; capturing stakeholders requirements and expectations; developing conceptual cost estimates and models; undertaking life-cycle costing analysis; and producing a high-level project plan to guide project execution and control. Practical applications are covered in detail, along with presentations of case studies designed to help participants master the course materials.
This training course will feature:
- Gaining knowledge of techniques used in project estimating, from the conceptual stage to the final detailed estimate
- Understanding the different types of estimates used to estimate project costs and schedule confidently and progressively
- Identifying risk sources and minimize their impact with and without contingency
- Developing effective team management, performance monitoring and control systems
- An integrated approach to scope, time, resources and cost management into a dynamic and manageable model
The Course Content
Module 1 - Project Scheduling & Cost Planning Skills
Project Estimating Basics
- Basic Project Management definitions
- Triple Constraints – Time, Cost, Scope
- Project Selection Methods
- Defining the Project Scope
- Cost & Schedule Estimation, Cost Budgeting & Control
- Project Schedule Planning and Critical Path Method
Developing Project Budget & Schedule Control
- Project management inputs to cost budgeting
- Resource Requirements
- Direct & Indirect Project Costs
- Planning and Scheduling Limited Resources
- Options for Accelerating the Schedule
- Crashing the Schedule - How?
Managing the Risk
- Risk Identification, Analysis & Management
- Contingency Reserve
- PERT, Probability and Standard Deviation Formulae
- Network Activity Risk Profiles
- Application: Estimating Project Duration
- Project Risk Strategies
Measuring Project Performance
- Balanced Project Schedule without Buffers (Finish-Start) and Inserting Buffers
- Comparison of Unbalanced with Balanced Schedules
- Measuring Planned Progress on Schedule
- Risk distribution in contracting
- Actual Progress and Work Conditions
- Managing Variable Conditions
Managing and Recovering Project Estimates
- Schedule Variances & Cost Variances
- Progress Control Charts - Trend Analysis
- Schedule and Cost Variance Forecasting
- Schedule and Cost Recovery Analysis
- Schedule and Cost Recovery Plan
- Project Recovery Baselines and Controls
Module 2 - Value Engineering Skills: Improving Performance & Profitability
Framework for Applying Value Engineering in Projects
- What is Value?
- What is Value Engineering? Why is it important?
- Defining Value Engineering concepts and principles
- How and when is Value Engineering applied?
- Project stakeholders analysis and management
- Understanding teamwork and cross-functional Project Teams and team player styles
The Function Analysis Phase - Expressing Project Functional Needs and Constraints
- Overview of Different Value Engineering Phases / Job Plan
- The Information Phase – steps and procedures
- The need for Function Analysis in projects
- Developing FAST Diagrams to identify critical project components and perform project value analysis
- Defining project constraints – relationships and trade offs
- Aspects of Cost Estimating
The Creative Phase - Inspiring Creativity in Your Project Team
- Risk Management
- Relationships between Value, Cost and Worth
- Facilitation skills
- Creativity and Creative thinking within the project environment
- Creativity techniques as applied to optimize project value
- Blocks to creativity within the project team
The Evaluation Phase -Making Informed Project Decisions
- Reaching consensus and leveraging the power of project team collaboration
- Idea selection
- Evaluation methods and value criteria
- Development phase
- Techniques in problem solving
- Life-cycle costing analysis
The Planning and Reporting Phases -Getting Results through Effective Communication
- Effective Decision-making in project environment
- Develop action plans and assign project roles and responsibilities
- Reporting VE findings to Senior Management and project stakeholders
- Integrating VE into the project process and Continuous Improvement and application at project initiation
- Case studies
- Assessment and Wrap-up