Project Management Certificate Series
Noncredit Course
Controlling Project Risks and Costs: How to Stay within Budget... Even with Unplanned Events
Event ID: P09764
Info: Dec 11-12 • Thu/Fri • 8:00am-3:00pm • 2 mtgs • UHM Krauss 012 (Yukiyoshi Room) • $995 (General), $895 (with Managing Project Teams), $795 (with Sep 16-18 Project Management series and Managing Project Teams) • (12 PDU)
With: Amanda Dietz
A critical part of project management is the control of costs even when uncertainty prevails. The tight connection between costs and risks forces the project manager to plan and respond decisively. Any failure to appropriately respond to risks can make the project run over budget, run behind schedule, or be mired in litigation. With effective use of the costs and risks management process, a Project Manager can deliver project objectives, even in a severely constrained environment.
Gain a practical understanding of "Project Risk Management" knowledge areas of the Project Management Body of Knowledge (PMBOK® Guide, 2000). Learn to use the Earned Value Management (EVM) to measure and control project progress.
Review essential project management skills and discover how to:
- Create a costs management plan
- Develop costs baseline and control account plan (cap)
- Apply the EVM technique
- Establish estimate at completion
- Identify risks
- Analyze risks qualitatively and quantitatively
- Develop a risks response plan
- Manage contract-based project
- Measure schedule and costs performance
- Know what, when, and how to take a corrective action
Who can benefit most from this seminar?
You can benefit if you are: a director of project management, finance manager, project office manager, project manager, project cost accountant, process improvement manager, project team member, or a candidate for the Project Management Professional (PMP) accreditation.
SEMINAR OUTLINE
- Project Management Essentials
- Essentials of project management (PM):
Overview of the Project Management Body of Knowledge (PMBOK) - Identifying the cost management processes
- Identifying the risk management processes
- Critical components of a project plan:
work breakdown structure (WBS), schedule and scope statement - Assess your project cost and risk approach
- Project Cost Management
- Resource planning:
Define what resources at what quantities and when for each work package - Costs estimating:
Using WBS, rates, estimates and chart of accounts,
Develop costs estimates and create costs management plan - Costs budgeting:
Using costs estimates, WBS, and schedule,
develop costs baseline and Control Account Plan (CAP) - Costs control:
Using costs baseline, apply earned value management technique to
establish estimate at completion - Project Risk Management
- Risks management planning:
Project principles about how risks will be managed - Risks identification:
Experience brainstorming, Delphi technique, interviewing,
checklists, and diagramming techniques to develop triggers of risks - Qualitative risks analysis:
Assess impact and likelihood of risks;
prioritize risks with probability and impact matrix - Quantitative risks analysis:
Numerically analyze probability of risks with
sensitivity analysis, decision tree analysis, and simulation - Risks response planning:
Developing options and determining actions - Risks monitoring and control:
Perform audits, risks reviews, perform earned value analysis, and take corrective action - Balancing Costs and Risks
- Understand relationship between risks and costs
- Developing a learning organization from costs and risks lessons
Amanda Dietz, MBA in international management, BS in finance, is a certified quality manager (American Society for Quality), a process management advisor, and project management practice leader for Orion Development Group. She has more than 20 years of experience in operations management, auditing, and process improvement. Prior to joining Orion, Dietz attained extensive quality and process management experience in the corporate world, principally in the financial services sector. She served on the senior management teams at InTuition, Inc. and Florida Federal Savings Bank (now part of First Union National Bank).
In these management roles, Dietz enhanced product line profitability in excess of 10% for multiple years, was recognized as a semi-finalist in the 1994 USA Today/RIT Quality Service Award, reduced turnaround times from multiple weeks to less than two days, reduced call center hold times by more than 80%, raised quality performance indicators above corporate standards, and successfully directed numerous information technology conversion projects.
As an instructor, Dietz consistently receives outstanding reviews from seminar participants: “Amanda Dietz did an excellent job... She impressed us all with her knowledge not only of process mapping but of our business.” -US Coast Guard Finance Center
“Amanda gave a great class! She encouraged participation and original thinking. She is definitely knowledgeable on the subject.” -Navy Federal Credit Union
“[The seminar] gave me additional tools to determine where and how to improve my department`s processes and performance.” -BAA Indianapolis
Dietz`s process management training/consulting clients include: Bank of America, Citibank, Daimler-Chrysler Financial Corp., GreenTree Financial Corp., Borders Group, Inc., Best Buy, Fingerhut Companies, Fujitsu, Toshiba America Information Systems, and the U.S. Postal Service.