BCIT is planning for a substantial return to on-campus activity for the fall 2021 term as informed by BC Public Health Officer guidelines. Refer to each course listing for details.
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 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:
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Registration is currently open for the Fall 2021 term.
The sneak preview for the Winter 2022 term starts Fri, Oct 22 at 8:30 am (PDT).
Students may register for Winter 2022 term courses online or by phone
starting Wed, Oct 27 at 9:00 am (PDT).
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.