Managing Project Scope and Requirements

Introduction:

Effective project planning is crucial for delivering results that meet managers' and customers' expectations. Many projects fail due to inadequate cost control, leading to budget overruns and, ultimately, project abandonment or cancellation. This highlights the essential need for proper management of project scope and requirements.

Our five-day Managing Project Scope and Requirements program provides practical solutions for accurately setting baseline costs and creating a consistent cost control process. Participants will gain skills to avoid cost increases due to mismanagement of project scope, ensuring timely project delivery.

Objectives:

By the end of this Managing Project Scope and Requirements course, participants will be able to:

• Recognize the importance of controlling project scope for project success.
• Implement best practices to reduce costs and mitigate negative project impacts.
• Understand the project scope management process and cost management lifecycle.
• Identify and perform key management actions at each lifecycle stage.
• Manage critical cost elements effectively.
• Develop better project cost estimates, budgets, and baseline costing.
• Monitor and control costs during project execution using scope management tools.
• Apply Earned Value Management (EVM) for performance measurement and reporting.
• Use EVM for progress reporting, including issue tracking and forecasts.
• Understand cost estimation techniques, including Work Breakdown Structure (WBS) and risk management.
• Utilize S-curves for risk and cost estimation.

Training Methodology:

• Case Studies
• Interactive Exercises
• Workshops
• Role Playing
• Simulations
• Group Discussions

Course Outline:

Unit 1: Overview of Project Management

• Basic project management definitions.
• Project management processes.
• Phases and life cycles of a project.
• Typical project terminology.
• Setting up projects for success.
• Management control systems for project scope and cost.

Unit 2: Developing the Project Schedule – Estimating Cost

• Aspects of project management related to cost estimation.
• Development of the Work Breakdown Structure (WBS).
• Definition of work packages as key building blocks.
• Estimation techniques.
• Optimizing the project schedule.
• Methods for estimating total project cost.

Unit 3: Developing the Project Budget – Determining Budget

• Relationship between information management inputs and budget determination.
• Costing personnel, materials, equipment, and overheads.
• Cost accumulation process.
• Risk management procedures, including risk response strategies and reserves.
• Cost estimation and management of risk response and reserves.
• Use of S-Curve for risk and cost analysis.

Unit 4: Using Control Accounts and Controlling Project Costs

• Understanding control accounts and control account plans.
• Critical elements of cost control.
• Managing change and its effects on the cost performance baseline.
• Project management elements that support cost control.
• Controlling and reducing labor hours.
• Cost control systems.

Unit 5: Monitoring Project Performance, Earning and Reporting EVM Outcome

• Theory of Earned Value Management (EVM).
• Crucial metrics in EVM.
• Variance analysis, performance index, and forecasting.
• Results analysis and corrective actions for unacceptable variances.
• Forecasting and response planning strategies.
• EVM reporting to management and customers.