Project Cost Management

Project Cost Management

Whether it's the cost of labor hours for a computer programmer or the purchase price of 1000 cubic yards of concrete, every project will have associated costs. When preparing the project budget, each of these costs must be estimated and then totaled. Some estimates will be more accurate than others. Commodities like concrete are priced in a standard market so prices are fairly predictable. Other estimates are less accurate. When the estimated cost of an item is uncertain, the project budget often includes a reserve. This is part of the budget that is set aside "just in case" the actual cost of the item is very different than the estimate. As part of PMI's Continuing Certification Requirements program, a PMP credential holder will need to earn 60 Personal Development Units (PDUs) during every three-year cycle. Fortunately, PDUs can be earned in many ways including E-learning, attending chapter meetings and seminars, and SELF-DIRECTED LEARNING. PMI will recognize activities that involve personally conducted research or study, including discussions and coaching sessions with colleagues or clients. Such activities should make use of informational materials like articles, books, and videos like the ones in this course. Within this course, we offer daily discussions that you may choose to join. This course may also be submitted for PDUs once you have earned the PMP credential. To learn more about PDUs, how to earn and claim them, as well as step-by-step instructions on how to renew your certification, you can reference the PMP HANDBOOK found at the PMI.org website. PMBOK® PMP® CAPM® and PMI® are Registered Trademarks of the Project Management Institute. https://ift.tt/2FHVAcR http://www.pmi.org/ https://ift.tt/2ZWXFJv https://ift.tt/1kgtft0.
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