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An intensive professional development training course on

Planning Projects
for Performance Excellence

The Course

One of the most important phases in the success of project development is the planning phase. That’s why the management of a project begins at this critical phase where exceptionally realistic time and cost estimates are most needed to help the project manager realize the project’s deliverables. Good project planning not only saves time and money, but also increases the overall earned project value (quality, reliability, safety, etc.) for the amount of funding expended.

This course is comprised of three modules which can be booked as a 15-day training event, or as individual 5-day courses; Module 1 presents and examines the principles, tools and techniques used to develop schedules for both time and resources; Module 2 covers basic and advanced cost estimation techniques as well as the impact of risks that need to be considered to ensure the plan predicted is valid; and Module 3 Module presents and examines the implementation of the Value Engineering (VE) concept for maximizing project functionality, reliability and quality at the lowest possible cost.

 

The Structure

This comprehensive programme consists of three modules which can be booked as either a 15 Day or a 10 Day Training event, or as individual, 5 Day courses.

Module 1 - Project Scheduling & Planning Skills

Module 2 - Project Cost Estimating Skills

Module 3 - Value Engineering Skills

 

The Goals

Following the completion of this course, delegates will:

  • Gain knowledge of techniques used in project estimating, from the conceptual stage to the final detailed estimate
  • Understand the different types of estimates used to accurately and progressively estimate project costs
  • Understand the different types of contracts based on the distribution of risk between contracting parties
  • Gain knowledge of techniques used in resource planning and control
  • Understand the time-cost trade-offs
  • Identify risk sources and minimize their impact and learn how to sustain project momentum
  • Learn how to administer project documentation and reporting
  • Develop effective performance monitoring and control system
  • Effectively apply incentive arrangements to get the best results from the contract
  • Gather and organize information and cost relevant to the design aspects of the project
  • Demonstrate better understanding of the key functions performed by key components of the design
  • Critically assess and evaluate the relationships among key attributes such as cost, value and function
  • Report effectively to top management and project stakeholders in the context of proposing new design alternatives that improve the overall project value
  • Demonstrate proficiency in applying life-cycle costing principles
  • Objectively present a convincing case in support of certain design alternatives

 

The Process

The course is a mixture of speaker input, case studies and practice exercises which will be used to facilitate group discussion. Delegates will gain detailed knowledge of cost estimation and value engineering concepts and techniques by active participation in the exercise/training sessions. Through lectures, case studies and practical exercises, delegates will focus on key concepts, terms, and principles necessary for realistically estimating, controlling and optimizing project costs.

 

The Benefits

This 15-day course will provide delegates with a proven set of critical skills and techniques for the development a systematic and dynamic project schedule, reliable cost estimate, as well as the ability and skills to compare the costs of alternative strategies or technical approaches to ensure the most economical project at the desired level of quality.

Delegates attending this 15-day course will be able to:

  • Integrate scope, time, resources and cost management into a dynamic, manageable plan
  • Develop project network diagrams for CPM and advanced PERT calculations to identify schedule and cost risks
  • Maintain continuous project performance and delivery control
  • Integrate all relevant project elements into a cohesive and comprehensive cost estimate
  • Prepare budget estimates that will enable the owner-organization to make informed decisions as to the feasibility of a potential project
  • Compare the costs of alternative strategies or technical approaches to ensure the most economical project at the desired level of quality
  • Structure the contract compensation arrangement to provide the highest level of incentives to complete the project on schedule and within the determined budget
  • Keep accurate control of the progressive budgeting process based on the various stages of design
  • Prepare accurate budget estimates through the programming phase, the schematic design phase, and finally the design development phase
  • Manage the interface between many value-adding initiatives and senior management expectations
  • Apply systematic and innovative methodology with multi-disciplinary approach to achieve better value and cost optimization for projects
  • Spread cost-consciousness among project team members
  • Focus on function and thereby develops creative thinking towards cost reduction

 

The Results

Individuals and organisations will be better prepared in relation to how to manage the schedule, cost and design of their projects according to best practices. Individuals will learn how to adopt and apply a structured approach to time and cost estimation, budgeting and value engineering. This in turn will lead to having a consistent and streamlined schedule, cost and design management processes across the organisation.

 

The Course Content

Module 1: Project Scheduling & Planning Skills

Day One

Project Scope Planning and Definitions (Fundamentals)

  • Introduction to Project Management
  • Scope Planning
  • Work Packages
  • Scope Execution Plan
  • Triple Constraints - Time Cost, Scope
  • Project Delivery Systems

 

Day Two

Project Schedule Planning

  • Economic Evaluation and impact of interest rates
  • Work Breakdown Structures (WBS)
  • Project Estimating
  • Gantt Chart - Schedule Baseline
  • Precedence Network Diagramming
  • Building schedule logic
  • What is float?

 

Day Three

Critical Path and Network Scheduling

  • Activity development
  • Network calculations
  • Forward and backward pass
  • Lead and Lag Scheduling
  • Program Evaluation and Review Technique (PERT)
  • Time-Cost-Scope Trade-off

 

Day Four

Advanced Planning Methods and Project Control

  • Preparing a Line of Balance Schedule (LSM)
  • Project Control Systems
  • Earned Value Analysis
  • Earned Value Reporting
  • Resource Allocation Algorithms for Resource Prioritization
  • Time and Cost Tradeoff

 

Day Five 

Progress Reporting and Schedule Acceleration

  • Progress Tracking and Monitoring
  • Options for Accelerating the Schedule
  • Crashing the Schedule - How?
  • Lean Approaches

 

Module 2: Project Cost Estimating Skills

Day Six

Cost Estimating Basics

  • Basic Project Management definitions
  • Cost Selection Methods
  • Typical project terminology & setting up for success
  • Project cost management, Cost Control
  • Resource & Cost Allocation
  • Understanding project management inputs to cost estimation

 

Day Seven

Pricing, Contracts and Risk

  • Project management inputs to cost budgeting
  • Resource Requirements
  • Direct & Indirect Project Costs
  • Probability and Standard Deviation Formulae
  • Contract types according to risk distribution
  • Fixed Price Contracts, Cost-Plus Contracts

 

Day Eight

Developing the Project Budget & Cost Control 

  • Risk Identification, Analysis & Management
  • Qualitative Risk Analysis
  • Quantitative Risk Analysis
  • Risk & Probability Matrix
  • Risk Response Strategy
  • Cash Flow management

 

Day Nine

Approximate & Detailed Estimating Methods

  • Material Estimating
  • Civil/Construction Estimating
  • Labor estimating, Detailed estimating with labor crews
  • Procurement Management
  • Risk distribution in contracting
  • Project risk profiles

 

Day Ten

Advanced Estimating Methods

  • Building Information Modeling (BIM)
  • Cost Estimating Relationships (CER)
  • Computer Estimating
  • Control Charts

 

Module 3: Value Engineering Skills

Day Eleven

Framework for Applying Value Engineering in Projects

  • Defining Value and Value Engineering concepts and principles
  • How and when is Value Engineering applied?
  • Project definition through stakeholder analysis and management
  • Team player styles
  • Identifying relationships between Value, Cost and Worth
  • Overview of Different Value Engineering Phases
 

Day Twelve

The Function Analysis Phase - Expressing Project Functional Needs and Constraints

  • The Information Phase – steps and procedures
  • Developing Value Engineering Job Plan
  • Defining project constraints
  • What is function analysis and Function-Cost-Worth Analysis
  • Developing FAST Diagrams to identify critical project components
  • Cross-Functional Project Team Approach
 

Day Thirteen

The Creative Phase - Inspiring Creativity in Your Project Team

  • Creativity and Creative thinking within the project environment
  • Creative thinking techniques
  • Reaching consensus and leveraging the power of project team collaboration
  • Project risk perception and identification
  • Identifying priorities through paired comparison
  • Output of the Creative Phase

 

Day Fourteen

The Evaluation Phase -Making Informed Project Decisions

  • Project evaluation methods
  • Performing project risk and scenario analyses
  • Life-cycle costing techniques
  • Incremental benefit-cost analysis for project evaluation
  • Effective Decision-making in project environment
  • Output of the Evaluation Phase

 

Day Fifteen

The Planning and Reporting Phases -Getting Results through Effective Communication

  • Develop and assess VE proposals to optimize project value
  • Action planning roles and responsibilities
  • Reporting VE findings to Senior Management and project stakeholders
  • Incorporating VE into the early project phases
  • Integrating VE with Continuous Improvement Techniques

 

The Certificate

  • AZTech Certificate of Completion for delegates who attend and complete the course

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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