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In Depth Project Cost, Schedule, and Risks Management
Background & About the Course
Effective project management is essential for the success of any project, particularly in complex industries such as oil, gas, and process sectors. As projects grow in complexity and scale, it is crucial for project managers and professionals to develop advanced skills in cost management, scheduling, and risk management. This three-day advanced Project Management Training is designed for professionals seeking to enhance their expertise in these areas, equipping them with the tools and techniques necessary to manage complex projects with confidence and precision. Participants will gain in-depth knowledge and hands-on experience to effectively control project costs, develop accurate schedules, and manage risks, ensuring successful project outcomes.
Course Objectives
Participants should have a fundamental understanding of project management principles and experience in managing projects. This syllabus aims to provide a comprehensive and engaging training experience, focusing on enhanced techniques for cost, schedule, and risk management in challenging and complex projects.
Who Should Attend
This training is recommended for:
- Project Managers
- Senior Project Managers
- Program Managers
- Cost Estimators
- Project Control Professionals
- Risk Managers
- Project Professionals and Engineers
Course Outline
In-Depth Project Cost Management
- Introduction to Effective Cost Management
- Overview of cost management in project management
- Importance of accurate cost estimates
- In-Depth Cost Estimating Techniques
- Parametric, Analogous, Three-Point, and Bottom-Up Estimating
- Cost Budgeting and Control
- Defining the cost baseline, cost aggregation, and performance measurement
- Earned Value Management (EVM)
- Introduction to EVM and calculating key metrics (PV, EV, AC, CPI, SPI)
- Using EVM for project performance measurement
- Cost Control Techniques
- Variance analysis, corrective actions, and change control processes
Enhanced Schedule Management
- Introduction to Enhanced Schedule Management
- Importance of accurate project scheduling and overview of techniques
- Effective Scheduling Techniques
- Critical Path Method (CPM), Program Evaluation and Review Technique (PERT), resource leveling, and smoothing
- Schedule Development and Control
- Defining the project schedule, schedule baseline, and monitoring/control
- Risk Management in Scheduling
- Identifying, analyzing, and prioritizing schedule risks; developing response plans
- Case Study: Progressive Schedule Management
- Practical application of progressive scheduling techniques; group activity to develop a detailed project schedule
Advanced Risk Management
- Introduction to Advanced Risk Management
- Importance of risk management and overview of processes
- Qualitative Risk Analysis
- Risk probability and impact matrix, risk categorization, and expert judgment
- Quantitative Risk Analysis
- Monte Carlo simulation, decision tree analysis, and sensitivity analysis
- Risk Response Planning and Implementation
- Developing strategies, assigning risk owners, and implementing responses
- Monitoring and Controlling Risks
- Tracking identified risks, evaluating response effectiveness, and closing out risks
- Case Study: Advanced Risk Management
- Practical application of advanced techniques; group activity to develop a comprehensive risk management plan
About the Course Leader
Ir. M. Tavip Sunandar, MM, AMPP, PMP, AIICD has over thirty-four years of experience in project business and technical management within BP and Arco, focusing on quality, engineering, construction, and supply chain management for offshore and onshore oil and gas processing facilities, including LNG and subsea control facilities. He is fully experienced in managing major project developments across all project life cycles and phases, from appraisal to operation, and has successfully managed turnaround projects for LNG plants. His extensive expertise includes quality management, procurement, material and supply chain management, and engineering information management.