Creating a Project Budget (PMI - PMP)

Creating a Project Budget (PMI – PMP)

What you’ll learn
  • Identify activities that are part of the Project Cost Management Knowledge Area
  • Distinguish between the inputs, tools and techniques, and outputs of the Plan Cost Management process
  • Identify inputs to the Estimate Costs process
  • Distinguish between the tools and techniques you can use to estimate project costs
  • Describe how to use the bottom-up estimating technique to estimate project costs
  • Match the outputs of the Estimate Costs process to their descriptions
  • Recognize the inputs to the Determine Budget process
  • Recognize the tools and techniques you can use to determine your project budget
  • Identify the outputs of the Determine Budget process
  • Demonstrate your understanding of the Estimate Costs and Determine Budget processes
Requirements
  • No special requirements or prerequisites are needed to take this course, but some extra reading about projects, project management, project life cycle, organizational project management, project scope, project schedule, project costs, project quality, project human resources and project communications will help.
  • Part of the Project Management Professional Certification Course (PMI-PMP)
  • Leaders, managers, entrepreneurs, professionals and project workers with or without formal project management training will improve project management skills and knowledge and will be ready to stand for formal certification.
Description

The Creating a Project Budget (PMI – PMP) is course 12 of 28 of the Project Management Professional Certification Program (PMI-PMP).

Let’s face it, at the end of the day, projects are really all about profit, no matter what kind of company you work for. Even if you work for a charitable organization or government, nobody wants to see a project lose money.

That’s why developing a realistic budget and then managing it well is such a critical part of project management. In this course, you’ll learn what goes into a cost management plan, how to estimate costs, and how to establish a realistic cost baseline for your project.

1. Project Cost Management Processes

2. The Plan Cost Management Process

3. Inputs to Estimate Costs

4. Tools and Techniques of Estimate Costs

5. Using the Bottom-up Technique to Estimate Costs

6. Outputs of Estimate Costs

7. Inputs to Determine Budget

8. Tools and Techniques to Determine Budget

9. Outputs of Determine Budget

10. Exercise: Estimating Costs and Developing the Budget

That’s it! Now go ahead and push that “Take this course” button, and see you on the inside!

Who this course is for:
  • Leaders, managers, entrepreneurs, professionals and project workers with or without formal project management training will improve project management skills and knowledge and will be ready to stand for formal certification.
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