Course Description
Managing projects requires establishing the budget and ensuring it's adhered to. The CAPM® is an asset that will enhance your effectiveness at meeting this obligation. CAPM training will ensure you have the knowledge you need to control the project budget and keep the project on track. This course covers the Control Costs process and includes helpful techniques for cost management.
This course will assist learners in preparing for the PMI® PMP® certification exam.
Learning Objectives
Controlling Costs
- identify the inputs to the Control Cost process
- recognize the tools and techniques you can use to control project costs
- match earned value management values with their formulas
- recognize the situations in which different estimate at completion (EAC) formulas are used
- calculate the to-complete performance index (TCPI) for a project given earned value management (EVM) figures
- recognize how outputs of the Control Costs process are used
- calculate the planned value and earned value, given the budget, percent of time passed, and percent of work completed
- calculate the schedule variance and schedule performance index, given the earned value and planned value
- calculate the cost variance and cost performance index, given the earned value and actual costs
- determine project performance, given a set of raw data points
- utilize work performance data to determine project performance
- determine the estimate at completion, using the formulas for scenarios 1 and 2
- recognize how the choice of EAC formula depends on the project situation
- demonstrate your understanding of the Control Costs process