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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.
No class on Monday, Feb 15 This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. 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.
Important course information will be sent to you prior to your course start
date. Check your myBCIT email account to
access this information.
Status
This course offering is in progress. Please check back next term or subscribe to receive email updates.
No class on February 15th Please note that the lecture component for this course is asynchronous, not requiring 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.
Important course information will be sent to you prior to your course start
date. Check your myBCIT email account to
access this information.
Status
This course offering is in progress. Please check back next term or subscribe to receive email updates.
This is not a self-paced course. You will be expected to be available and online on the posted days and times shown on your registration schedule. 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. No class on Monday, Feb 15.
Important course information will be sent to you prior to your course start
date. Check your myBCIT email account to
access this information.
Status
This course offering is in progress. Please check back next term or subscribe to receive email updates.
In Progress
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
OPMT 2505 is offered as a part of the following programs:
Books for Winter 2021 offerings of this course are available in the following BCIT
online bookstores. Please choose the bookstore appropriate for the offering
you are considering.
BCIT Distance & Online Learning Bookstore
If you are taking this course through either Distance Education or Online Learning, please purchase books for this course at the BCIT Distance & Online Learning Bookstore.
Intro To Project Mgmt, 6Th Ed. W.Brief Guide To Ms Project 2016
Author
Schwalbe
Copyright
2017
Binding
Paperback
ISBN
978-1-54470-189-9
Price
$113.95
Required
Guide To Pmbok (6Th Edition)
Author
Pmi
Copyright
2017
Binding
Paperback
ISBN
978-1-62825-184-5
Price
$94.95
Optional
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Registration is currently open for the Winter 2021 term.
The sneak preview for the Spring/Summer 2021 term starts Fri, Feb 19 at 8:30 am (PST).
Students may register for Spring/Summer 2021 term courses online or by phone
starting Wed, Feb 24 at 9:00 am (PST).
Classroom Locations
Classroom locations are subject to last minute changes. Please check the Part-time Studies Classroom Locations listing at www.bcit.ca/rooms on the first day of any course you are registered for.