British Columbia Institute of Technologywww.bcit.ca/study/courses/opmt2505

Important Notice: COVID-19 Institute response

BCIT

OPMT 2505 - Project Resourcing and Cost Management

Operations Management Part-time Studies Course

School of Business + Media

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.

Prerequisite(s)

OPMT 1187

Credits

3.0

Cost

$812.64 - $813.63 See individual course offerings below for actual costs.

Fall 2021

Below are three offerings of this course for the Fall 2021 term.

CRN 42215

Mon Sep 13 - Mon Dec 06 12 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 13 - Dec 06 Mon 18:30 - 21:30 BBY SW01 Rm. 3150

Instructor

Michael Lachocki

Course Outline

Cost

$813.63

Notes

  1. No class on October 11
  2. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.

This course offering is in progress. Please check back next term or subscribe to receive email updates.

In Progress

CRN 43415

Mon Sep 13 - Mon Dec 06 12 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 13 - Dec 06 Online

Instructor

Michael Lachocki

Course Outline

Cost

$812.64

Notes

  1. Internet delivery format.
  2. No class on October 12
  3. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.

This course offering is in progress. Please check back next term or subscribe to receive email updates.

In Progress

CRN 48608

Mon Sep 20 - Mon Dec 13 12 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 20 - Dec 13 Mon 18:30 - 21:30 Online

Instructor

Michael Lachocki

Course Outline

Cost

$812.64

Notes

  1. Internet delivery format.
  2. No class on Monday, October 11th

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:

School of Business + Media

  1. Project Management
    Part-time   Associate Certificate

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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).

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