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Control Project Costs - Understanding the Cost-Budget Status of the Project

Effective cost control ensures financial stability and project success. You'll understand the connection between schedule performance, resource use, and cost outcomes, and apply strategies that enhance transparency, accountability, and overall financial health across the project lifecycle.

Short Course
Intermediate
30 Minutes
7-Day Access
0.5 CPD Hours, Digital Certificate
AUD $9.99
Who is this course for
  • Project Managers who are responsible for financial tracking and reporting
  • Assistant Project Managers developing cost management capability
  • Cost Controllers and Quantity Surveyors managing budget performance
  • Client-Side Project Leads overseeing financial governance
  • Anyone seeking to strengthen understanding of project cost control
What will I learn
  • What cost control measures ensure financial accuracy across the project lifecycle
  • Who authorises financial adjustments and approves cost variations
  • How to communicate cost performance clearly through structured reporting
  • When to re-baseline or implement corrective cost actions
  • Where cost-saving and revenue-improvement opportunities can be identified
  • Why forecasting and variance analysis are critical for proactive budget management
What’s covered in this course
  • What are some of the terms in Project Cost Management?: Learn essential terminology including contingency reserves, management reserves, direct and indirect costs, and prevention costs.
  • Techniques for monitoring and controlling project costs: Explore forecasting, variance analysis, and performance review methods for managing budgets effectively.
  • Change Management and costs: Understand how project changes influence cost, schedule, and quality performance.
  • Change effect on Cost: Examine how cost is impacted when scope or schedule changes occur and why timely approval and re-baselining are critical.
  • Implementing cost changes: Follow the correct process for recording, tracking, and authorising cost adjustments.
  • Financial improvement: Discover strategies to enhance profitability through value engineering and proactive management.
  • Cost and Revenue Analysis: Analyse actual and forecast data to measure performance against financial baselines.
  • Schedule Improvements: Learn methods to optimise schedules for efficiency and cost savings.
  • Procurement Improvements: Negotiate better supplier terms, discounts, and rebates to strengthen project margins.
  • Contractor or Subcontractor Improvements: Manage third-party relationships and performance to ensure cost efficiency.
  • Managing Change Requests from the client: Evaluate scope changes, identify cost impacts, and maintain profitability while meeting client needs.
  • Resource Efficiency and Resource planning: Identify and track resource performance to improve productivity and reduce costs.
  • Manage the Project Debtors book: Monitor payment schedules, invoicing accuracy, and cash flow.
  • Project Financial Closure: Ensure all budgets, costs, and revenue are reconciled and documented for project completion.
  • Release of resources and third parties: Formally release personnel and contractors to prevent unnecessary cost accumulation.
  • Procurement Closure: Reconcile supplier accounts, confirm warranties, and finalise financial documentation.
For more details on the course, click here to download course outline.
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Frequently Asked Questions

How do I sign up for the course?

You can sign up for a short course or applied mini course via the "Enrol Now" button in the course page.

When can I start the course?

If you've purchased the short course/applied mini course, you will gain immediate access to the online learning platform and will be able to start your learning anytime.

How can I access the course after signing up?

If you've purchased our short course/applied mini course, you will receive a login email with the link to access the online learning platform and course.

What do the course cost?

Our pricing varies depending on the courses. You can find the course fee detail on the course page. Alternatively, you can contact Karen and her team at info@skillingseducation.com.au if you would like to book a time to go through what’s right for you.

Am I a good candidate for this course?

If you are looking for a course of study for yourself or need cross train staff across a related course of study - you are in the right place.

Can this course satisfy my professional development requirements?

Yes, we have global organizations using our training programs to meet the needs of cross training their employees across specific course libraries. Whether it be professional development where the user gets control of the content they pull, or whether you need a curated course program that pushes content specific to the requirement of the team, we can help.

Is there a time limit to complete the course once enrolled?

Each course has its own recommended reading time, therefore your course duration may vary based on the course structure. You can find the detail of your course access period in the course page.

Have questions or want to speak with someone before enrolling?

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