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Project Resourcing and Cost Management OPMT 2505

Operations Management Course

International Fees

International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.

Course details

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. This course may be eligible for students to receive funding through the StrongerBC Future Skills Grant at www.bcit.ca/financial-aid/strongerbc-future-skills-grant. Students register themselves into the course, then apply for the StrongerBC Future Skills Grant to cover payment, if eligible.

Prerequisite(s)

Credits

3.0

Domestic fees

$821.07 - $861.93 See individual course offerings below for actual costs.

Course offerings

Winter 2024

Below are three offerings of OPMT 2505 for the Winter 2024 term.

CRN 82141

Duration

Mon Jan 08 - Mon Apr 08 (12 weeks)

  • 12 weeks
  • CRN 82141
  • Domestic fees $861.93
    International fees are typically three times the amount of domestic fees.
Class meeting times
Dates Days Times Locations
Jan 08 - Apr 08 Mon 18:30 - 21:30 Burnaby SW01 Rm. 3170
Instructor

Michael Lachocki

Course outline

View

Domestic fees

$861.93

Important information
  1. International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
  2. No class on Feb 19 & Apr 1
Status

In Progress

This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.

CRN 83190

Duration

Mon Jan 08 - Mon Mar 25 (12 weeks)

  • 12 weeks
  • CRN 83190
  • Domestic fees $821.07
    International fees are typically three times the amount of domestic fees.
Class meeting times
Dates Days Times Locations
Jan 08 - Mar 25 N/A N/A Online
Instructor

Michael Lachocki

Course outline

View

Domestic fees

$821.07

Important information
  1. Internet delivery format.
  2. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
  3. International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
  4. This course is asynchronous, and does not require you to meet each and 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.
Status

In Progress

This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.

CRN 89762

Duration

Mon Jan 15 - Mon Apr 01 (12 weeks)

  • 12 weeks
  • CRN 89762
  • Domestic fees $821.07
    International fees are typically three times the amount of domestic fees.
Class meeting times
Dates Days Times Locations
Jan 15 - Apr 01 N/A N/A Online
Instructor

Michael Lachocki

Course outline

View

Domestic fees

$821.07

Important information
  1. Internet delivery format.
  2. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
  3. International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
  4. This course is asynchronous, and does not require you to meet each and 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.
Status

In Progress and Full

This course offering is in progress and full. Please check this page for other currently available offerings or subscribe to receive email updates.

Spring/Summer 2024

Below are two offerings of OPMT 2505 for the Spring/Summer 2024 term.

CRN 62480

Duration

Mon Apr 08 - Mon Jul 08 (12 weeks)

  • 12 weeks
  • CRN 62480
  • Domestic fees $823.61
    International fees are typically three times the amount of domestic fees.
Class meeting times
Dates Days Times Locations
Apr 08 - Jul 08 Mon 18:30 - 21:30 Burnaby SE12 Rm. 309
Instructor

Michael Lachocki

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Domestic fees

$823.61

Important information
  1. International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
  2. No class on May 20th and July 1st
Status

CRN 67543

Duration

Mon Apr 08 - Mon Jun 24 (12 weeks)

  • 12 weeks
  • CRN 67543
  • Domestic fees $821.07
    International fees are typically three times the amount of domestic fees.
Class meeting times
Dates Days Times Locations
Apr 08 - Jun 24 N/A N/A Online
Instructor

Michael Lachocki

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Domestic fees

$821.07

Important information
  1. Internet delivery format.
  2. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
  3. International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
  4. This is an asynchronous course that will be held entirely online, and does not require that you meet each and every week at a specific time. Please check the registration page for any specific dates and times that you will need to be available and online for midterms and final exams.
Status

Full

This course offering is full. Please check this page for other currently available offerings or subscribe to receive email updates.

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:

School of Business + Media

  1. Project Management
    Associate Certificate Part-time

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