- International Fees
International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Course Overview
The ability to have project costs come in under, or close to, the approved budget is one of the goals of all project managers. This course will cover the tools and techniques required to translate project objectives and scope into units of cost that can be used to create a budget. All aspects of project cost management will be addressed, including: planning, estimating, budgeting, financing, funding, managing, and controlling costs. Methodologies for the procurement of products/services outside of areas specific to the project team and contract management will also be examined as these relate to project costs. This will include monitoring contract fulfillment and managing change process controls.
Prerequisite(s)
- 50% in OPMT 1187
Credits
3.0
Domestic fees
$840.64 - $897.45 See individual course offerings below for actual costs.
Learning Outcomes
Upon successful completion of the course, the student will be able to:
- Build a project cost management plan based on information from a project management plan.
- Determine summary budget and approval requirements based on a given project charter.
- Describe the enterprise environmental factors that affect the costing of a project.
- Plan the cost management processes of a project, including policies, procedures, and documentation necessary for planning, managing, expending, and controlling costs.
- Estimate project costs using various methodologies, such as parametric estimating, bottoms-up estimating, and three-point estimating.
- Explain why a project reserve (contingency fund) is needed.
- Build a project budget.
- Evaluate and propose improvements to cost performance using appropriate measurement methodologies, including earned value management.
- Develop a project procurement plan, including supplier selection criteria and methods, contract awarding, and contract management.
- Differentiate between various methods of awarding contracts and select the appropriate method.
- Assess contract performance and propose necessary actions for improvement.
- Describe the necessary actions to close a contract.
Effective as of Winter 2014
Related Programs
Project Resourcing and Cost Management (OPMT 2505) is offered as a part of the following programs:
- Indicates programs accepting international students.
School of Business + Media
- Project Management
Associate Certificate Part-time
Course Offerings
Spring/Summer 2025
Below is one offering of OPMT 2505 for the Spring/Summer 2025 term.
CRN 62480
Dates
Apr 07 - Jul 07 Loading
- CRN 62480
- $840.64 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 07 - Jul 07 | Mon | 18:30 - 21:30 | Burnaby SW01 Rm. 3190 |
Duration
12 weeks
Instructor
Michael Lachocki
Course outline
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- No class on April 21st and May 19th
Status
Fall 2025
Below are two offerings of OPMT 2505 for the Fall 2025 term.
CRN 42215
Dates
Sep 08 - Dec 01 Loading
- CRN 42215
- $897.45 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 08 - Dec 01 | Mon | 18:30 - 21:30 | Burnaby SE06 Rm. 112 |
Duration
12 weeks
Instructor
Michael Lachocki
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- No class Monday, October 13 This course is eligible for students to receive funding through the StrongerBC future skills grant at www.bcit.ca/financial-aid/strongerbc-future-skills-grant/. Students will register for the course themselves, and then apply for the StrongerBC future skills grant to cover payment (if eligible).
Status
CRN 48608
Dates
Sep 08 - Nov 24 Loading
- CRN 48608
- $854.51 Domestic fees
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 08 - Nov 24 | N/A | N/A | Online |
Duration
12 weeks
Instructor
Michael Lachocki
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- Internet delivery format.
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.25 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- This course is asynchronous and does not require you to meet every week at a specific time, however, there will be specific timelines for assignments and exams. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date. This course is eligible for students to receive funding through the StrongerBC future skills grant at www.bcit.ca/financial-aid/strongerbc-future-skills-grant/. Students will register for the course themselves, and then apply for the StrongerBC future skills grant to cover payment (if eligible).
Status
Programs and courses are subject to change without notice.