Project Planning, Scheduling, and Cost Estimation Techniques

Introduction:

Effective project delivery depends on well-structured planning, accurate scheduling, and reliable cost estimation. These three pillars form the foundation of successful project management, ensuring that objectives are achieved on time, within budget, and to the required quality standards. Poor planning or unrealistic estimates often result in delays, cost overruns, and stakeholder dissatisfaction.

This course provides participants with practical knowledge and tools for developing comprehensive project plans, creating realistic schedules, and applying proven cost estimation techniques. It combines theoretical foundations with real-world applications, enabling professionals to enhance their project management capabilities across various industries.

Objectives:

By the end of the Project Planning, Scheduling, and Cost Estimation Techniques course, participants will be able to:

• Understand the principles and importance of planning, scheduling, and cost estimation in project management.
• Develop detailed project plans aligned with organizational goals.
• Apply scheduling techniques such as Gantt charts, Critical Path Method (CPM), and PERT.
• Perform accurate cost estimation using different methods and tools.
• Balance time, cost, and quality constraints in project execution.
• Use project management software for planning, scheduling, and monitoring progress.
• Identify risks related to time and cost and develop mitigation strategies.

Training Methodology:

• Interactive lectures with real-world case studies
• Hands-on exercises in scheduling and cost estimation
• Group discussions and problem-solving workshops
• Role play and simulation of project planning scenarios
• Demonstrations of project management software tools (e.g., MS Project, Primavera)
• Individual and group projects for practical application

Course Outline:

Unit 1: Fundamentals of Project Planning

• The role of planning in project success
• Work Breakdown Structure (WBS) development
• Defining project scope, objectives, and deliverables
• Aligning project plans with organizational strategy

Unit 2: Project Scheduling Techniques

• Introduction to scheduling concepts
• Gantt charts, bar charts, and milestone planning
• Critical Path Method (CPM) and Program Evaluation and Review Technique (PERT)
• Resource allocation and leveling in scheduling
• Managing schedule delays and conflicts

Unit 3: Cost Estimation Principles

• Importance of accurate cost estimation
• Types of costs: direct, indirect, fixed, and variable
• Cost estimation methods: analogous, parametric, bottom-up, and three-point estimating
• Using historical data and benchmarking for estimates
• Common pitfalls in cost estimation and how to avoid them

Unit 4: Integrated Project Planning and Control

• Linking planning, scheduling, and cost estimation
• Budgeting and cost control methods
• Earned Value Management (EVM) as a monitoring tool
• Tracking project performance and forecasting outcomes

Unit 5: Tools, Software, and Best Practices

• Overview of project management software (MS Project, Primavera, etc.)
• Practical exercises in schedule and cost estimation using software tools
• Best practices in planning and cost control
• Case studies of successful and failed projects