1. Fundamentals of Estimating and Budgeting
• Cost estimation principles and techniques.
• Classifying cost types and components.
• Key drivers of cost estimation accuracy.
• Estimating at various project phases (conceptual to detailed).

2. Project Budget Development
• Linking project scope and schedule to budgeting.
• Developing operational and capital budgets.
• Budget structuring: work breakdown structures (WBS) and cost breakdown structures (CBS).
• Budget baselines and change management.

3. Cost Control and Monitoring Tools
• Importance of proactive cost control in projects.
• Variance analysis: cost variance (CV), schedule variance (SV).
• Earned Value Management (EVM) for performance tracking.
• Cost Performance Index (CPI) and Schedule Performance Index (SPI).

4. Financial Risk and Contingency Planning
• Identifying cost risks and uncertainties.
• Creating contingency budgets and reserves.
• Managing budget overruns and unexpected cost escalations.
• Decision-making under financial constraints.

5. Excel Tools for Estimating and Budgeting
• Using Excel functions for cost estimation and budgeting templates.
• Developing forecasting models and automated cost reports.
• Scenario analysis and what-if modelling in Excel.
• Visualizing budget data with charts and dashboards.

6. Integration with Project Planning and Procurement
• Aligning budgeting with scheduling and resource planning.
• Budgeting in procurement and contract management.
• Financial tracking across multiple project phases.
• Reporting to stakeholders and presenting financial summaries.

7. Best Practices and Case Studies
• Real-world examples of budget success and failure.
• Benchmarks and KPIs in cost management.
• International standards and guidelines in budgeting and cost control.
• Lessons learned and continuous improvement in financial planning.

This course ensures that participants leave with actionable skills and tools to enhance financial control, improve estimation accuracy, and contribute meaningfully to successful project delivery.

Estimating, Budgeting & Cost Control Training Course in London

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