Project Cost Control Mastery
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Program Professional Framework
Project Cost Control Mastery
Program Overview
Large infrastructure, energy and giga-projects in the GCC demand cost control that goes beyond tracking invoices. «Project Cost Control Mastery» is an advanced programme on integrated cost management: building cost baselines, commitment and accrual control, earned value management, forecasting estimates at completion, change and trend management, contract and claims cost control, cash flow management, risk-based contingency drawdown, cost reporting to sponsors, project controls governance and benchmarking, drawing on PMBOK and the AACE Total Cost Management framework, plus an applied research project.
Learning Outcomes
- ✓Establish a cost baseline integrated with schedule and scope through control accounts.
- ✓Track commitments, accruals and actuals to produce accurate cost status reports.
- ✓Apply earned value management to calculate CPI, SPI and estimates at completion.
- ✓Manage changes and trends through a formal change control and forecasting process.
- ✓Control contingency drawdown based on risk retirement and forecast exposure.
- ✓Design a project controls governance framework with reporting for sponsors and boards.
Target Audience
- Project controls managers and cost engineers
- Project and programme directors
- Contract and commercial managers
- PMO heads and project finance managers
Detailed Program Modules
01Project Cost Management Frameworks
- Cost management in PMBOK
- AACE Total Cost Management framework
- Roles in owner and contractor organisations
02Cost Baseline and Control Accounts
- WBS, CBS and control account structure
- Integrating scope, schedule and cost
- Baseline approval and freeze
03Commitments, Accruals and Actuals
- Commitment tracking from purchase orders and contracts
- Accruals and work-in-progress valuation
- Reconciling project and finance records
04Earned Value Management
- PV, EV and AC measurement methods
- CPI, SPI and variance analysis
- Earned schedule basics
05Forecasting and Estimates at Completion
- EAC methods and their assumptions
- Bottom-up re-forecasting
- Forecast accuracy and early warning
06Change and Trend Management
- Trend registers and early warnings
- Change orders and baseline updates
- Scope creep control
07Contract and Claims Cost Control
- Cost control by contract type
- Variations, claims and back-charges
- Final account negotiations
08Risk, Contingency and Cash Flow
- Quantitative cost risk analysis
- Contingency drawdown rules
- Cash flow forecasting and funding
09Reporting and Governance
- Cost reports and dashboards for sponsors
- Project controls governance and audits
- Benchmarking and lessons learned databases
10Strategic Cost Leadership and Applied Research
- Portfolio-level cost control in major programmes
- Digital project controls and integrated systems
- Applied research project on cost performance improvement
Training Methodology
Applied Project & Assessment
Applied Project
Participants complete an applied cost control study on a real or provided project: baseline and control account structure, EVM analysis with EAC forecasts, a change and trend log, a contingency drawdown recommendation and a sponsor-level cost report with improvement proposals.
Assessment
Short diagnostic at the start, practical tasks linked to each learning outcome, and evaluation of the applied project against published criteria.