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A PMI Approved Training Course

Project Scheduling,
Cost Planning &
Value Engineering Skills

Name: Project Scheduling, Cost Planning & Value Engineering Skills Training Course
Rating: 4.7 (1076 reviews)

Creativity and Excellence in Planning, Functionality and Costing

Course Schedule

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Overview Objectives Who Should Attend? Methodology Outline Certificates

Course Modules

This training course is split into the following modules:

Project Scheduling & Cost Planning Skills

Value Engineering Skills

Why Choose Project Scheduling, Cost Planning & Value Engineering Skills Training Course?

This Project Scheduling, Cost Planning & Value Engineering Skills Training Course equips professionals with practical tools and techniques to manage the entire lifecycle of a project. The course is divided into two focused modules. The first module addresses the critical aspects of project scheduling and cost planning, teaching how to create reliable cost estimates and project schedules during the early stages of a project.

The second module delves into Value Engineering (VE), offering a systematic approach to improving project value. VE emphasizes reducing life-cycle costs, optimizing project performance, and eliminating unnecessary expenditures, providing stakeholders with practical strategies to achieve financial success.

The training follows a step-by-step approach, providing actionable insights into project initiation, planning, execution, and closure. You will gain knowledge on risk management, stakeholder involvement, and cost control techniques to create high-level project plans. Case studies and practical applications allow participants to master the content and apply it immediately in their work.

This course offers a comprehensive overview of project management, with key elements such as:

Estimating costs and schedules from conceptual planning to detailed implementation
Managing risks with and without contingency
Integrating cost, time, scope, and resources into a dynamic model for project success

With its practical focus and structured approach, this training ensures you are equipped with the right tools to succeed in any project environment.

What are the Goals?

By the end of this Project Scheduling, Cost Planning & Value Engineering Skills Training Course, participants will be able to:

Effectively manage and mitigate risks related to project cost, scope, and schedule
Develop recovery plans for projects experiencing budget or schedule overruns
Identify value mismatches using life-cycle costing ratios
Capture stakeholder input for project charters and plans
Understand and apply Value Engineering (VE) concepts to optimize project value

Who is this Training Course for?

This Project Scheduling, Cost Planning & Value Engineering Skills Training Course is designed for a variety of professionals, particularly those involved in project planning, budgeting, and execution.

Ideal for:

Cost Estimators and Project Schedulers
Project Planners, Engineers, and Designers
Contract and Procurement Professionals
Project Control and Business Services Professionals
Project Managers and Project Sponsors
Individuals involved in project initiation and critical assessment
Professionals working in diverse industries like construction, manufacturing, healthcare, and more

This training is especially beneficial for those responsible for cost/schedule estimates, managing multi-disciplinary teams, and those looking to implement better control measures in complex project environments.

How will this Training Course be Presented?

This Project Scheduling, Cost Planning & Value Engineering Skills Training Course will be delivered using a blend of proven learning techniques designed for maximum engagement and retention. The course structure emphasizes practical, hands-on learning.

Course Delivery:

Interactive Sessions: Knowledge sharing through formal and interactive methods.
Case Studies: Real-life case studies to contextualize the theory.
Team Projects: Collaborative exercises to apply learning in a group setting.
Group Discussions: Opportunities for participants to discuss challenges and solutions.
Practical Application: Immediate application of learned techniques on real projects.

The course follows a systematic, step-by-step methodology, allowing participants to apply VE concepts and project scheduling techniques to a variety of projects. In addition, practice exercises will help participants grasp core principles and make informed decisions about project scheduling, cost control, and value engineering.

The Course Content

Day 1

Project Estimating Basics

Basic project management definitions
Triple constraints – Time, Cost, Scope
Project selection methods
Defining project scope
Cost & schedule estimation, Cost budgeting & control
Project schedule management using the Critical Path Method

Day 2

Developing Project Budget & Schedule Control

Resource requirements
Direct & indirect project costs
Planning and scheduling limited resources
Options for accelerating the schedule
Crashing the schedule - How?

Day 3

Managing the Risk

Risk identification, analysis & management
Contingency reserve
PERT, probability and standard deviation formulae
Network activity risk profiles
Application: Estimating project duration
Project risk strategies

Day 4

Measuring Project Performance

Critical chain analysis and use of buffers
Comparison of unbalanced with balanced schedules
Measuring planned progress on schedule
Risk distribution in contracting
Actual progress and work conditions
Managing variable conditions

Day 5

Managing and Recovering Project Estimates

Schedule variances & cost variances
Progress control charts -trend analysis
Schedule and cost variance forecasting
Schedule and cost recovery analysis
Schedule and cost recovery plan
Project recovery baselines and controls

Day 6

Understanding Value Engineering and its Application

Course Introduction and Post-Course Assessment
What is value? What is Value Engineering (VE)? Why is it important?
Defining Value Engineering concepts and principles
VE Study definition, scope and project phases
VE team and stakeholders’ analysis and management
Introducing the case study

Day 7

The Information and Function Analysis Phase – Expressing Project Needs and Constraints

The VE Job Plan
The Information Phase – steps and procedures
The need for Function Analysis in projects
Identifying functions and selecting Function Diagrams
Function Analysis System Technique (FAST)
Workshop: FAST Diagram

Day 8

The Creative Phase - Inspiring Creativity in Your Team

Function Cost and Worth
Finding value mismatches
Facilitation skills and overcoming creativity blockers
Creativity and Creative thinking within the project environment
Data collection and Creativity Output
Workshop: Brainstorm Case Study Alternatives

Day 9

The Evaluation Phase - Making Informed Project Decisions

Effective Decision-making in project environment
Project evaluation methods: Subjective evaluation and quantitative evaluation
Paired comparison and Analytical Heretical Process (AHP)
Project life-cycle costing and Net Present Value
Output of the Evaluation Phase
Workshop: Cost estimating Techniques

Day 10

The Presentation and Reporting Phases – Getting Results through Effective Communication

Selection of alternatives and action planning
Reporting VE findings to Senior Management and project stakeholders
Oral presentation techniques & interpersonal skills
Study Levels of the VE Certification by SAVE International
Review of VE Case study Reports and Wrap-up discussions
Post-Course Assessment

Certificate

AZTech Certificate of Completion for delegates who attend and complete the training course
The applicable PMI Professional Development Units/Contact Hours will be reflected in the Certificate of Completion

Accreditation

AZTech is an official PMI Authorized Training Partner (ATP). All applicable project management courses are pre-approved by the Project Management Institute, allowing participants to earn the necessary PDUs and Contact Hours for certification and recertification.

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Frequently Asked Questions

Common questions about our training courses

Yes, we offer tailored corporate training solutions to meet your organization's specific needs. Please contact us at [email protected] or call +971 4 427 5400 for more information.

The training fees include full access to the training venue, along with comprehensive training materials to enhance your learning experience. Additionally, participants will be provided with writing supplies and stationery. To ensure comfort and convenience, the fee also covers lunch and refreshing coffee breaks throughout the duration of the course.

Our training programs are hosted at luxurious five-star hotels in prestigious destinations across the globe. Some of our popular locations include Dubai, London, Kuala Lumpur, Amsterdam, New York, Paris, Vienna, and many other iconic cities.

There are several convenient ways to register for our training programs:

Online: Explore our training calendar, choose the course that suits your needs, and click the “Register Now” button on the course details page.
Email: Share your details, including your name, organization, email address, and selected course, by sending an email to [email protected]
Phone: Reach out to us directly at +971 4 427 5400 or +971 4 427 5407, and our team will guide you through the registration process.

Once your registration is successfully completed, you will receive a confirmation email within 24 hours. This email will contain your registration details, invoice, and the necessary joining instructions for the course.