Synopsis : Advanced Project Estimation and Cost Control

Project Management (PM) knowledge and methodologies have evolved and improved significantly over the last five decades. This in part is attributable to many of the lessons learnt from the successes and failures of projects undertaken by organizations. Mature project management organization practice project estimation and Budget Control but their degree of sophistication vary by industry and value of the project.

Hence our programme introduces the PM framework so that participants have a broader and a clearer contextual understanding of how organisation are structured and project account organised to facilitate project performance trend reporting. Participants are led using the predictive approach to management of projects and the circumstances when the Adaptive approach maybe a more appropriate alternative.

Participants are guided through the PM life cycle and how and why they are repeated through the Project life cycle and in the process, is able to be generically applied across multi-industry, multi discipline and multi-technical domain, each with its unique technical terminology, industry jargon and management processes.

Participants are led through the project selection process using NPV, IRR and payback period approach to project cost estimation, project risk contingency planning and budgeting. Attendees are then led through budget control from commitment control to final payment and how ERP systems segregation of duties facilitate internal control that reduces project “leakage” and enable better overall cost control.

An introduction to cost behaviors plays a big part in understanding and trainees are led with real work examples to see how the understanding of cost behavior help project managers appreciate the underlying records that make up the project progress status report.

Total cost of ownership is discussed with real life examples. It illustrate how procurement of capital assets should not just focus on acquisition cost but also account for running and maintenance cost which are significant part of life-cycle cost. In this way, decisions are far more effective as participants get to appreciate the comparative attractiveness of options open.

A working knowledge of Earned value management goes a long way to explain the results of the project progress. Our programmes are delivered by experts in the field. We believe its ease of use is best explained by those who have use them and able to translate the big picture results into meaningful information that even the layman can understand.
The ability to keep things simple is the hallmark of true knowledge. Einstein has been quoted to have said “if we cannot explain it simple enough, we don’t know the subject well enough”.  We believe and practice it.

Be trained by professionals who have been on the job, mentored others and coached the uninitiate using a commonsense approach made simple through practice, research and comparative study.

Learning objectives
• Understand time value of money to differentiate relative attractiveness of projects
• How life cycle costing is applied when differentiating large capital projects.
• Learn estimation methods
• How to estimate project risk contingencies
• How Earned value indicate project progress

Expected learning outcome
• Understand and apply:
• Project estimation & Budgeting
• Commitment & Budget control
• Project ERP as a project control tool
• Using EVM to report progress
• Total cost of ownership/LCC
• NPV/IRR/Payback period tools
• Basic knowledge of financing


About The Course Leader

Robert Gan PMP, IDPM(Camb) , AICA, NCC Systems Analysis & Design

• Immediate Past President, Project Management Institute – Malaysia Chapter (Max 5 terms)
• 2 term Adjunct Professor of UMP
• Expert witness in Project Management, Advisor to PGB Pte Ltd, Singapore
• Researcher in Project Management maturity, The University of Nottingham, Malaysia Campus  
• Managing Partner, ROGAN Strategic Advisory PLT, IDPM Coach/PMP®/CAPM® exam preparation

Robert is a seasoned professional Project Delivery Partner with 20 years of Programme and Project Management experience that has included people, processes and technology. He formal training in the management of Projects and Accountancy has helped in Project Financials, Stakeholders’ management, Quality/Risk/Procurement Management, Systems Analysis & Design and Application Systems deployment.  Robert has helped corporate business teams in addressing business issues, procedure realignment, provision of alternatives, proposing work-around solutions and business process improvements.

When serving as a Principal Consultant with PwC and another big four regional consulting organisations, Robert had practiced best-in-class project management methodologies and rolled out more than 20 projects that were multi-country and multi-cultural in scope across the Asia-Pacific region in countries like Singapore, Taiwan, Hong Kong, Indonesia and Malaysia in industries from Financial services/banking, General construction, IT suppliers, ERP implementers and Software developers, M&E and Engineer-to-order (ETO) manufacturers. The in-depth experience managing stake holders’ expectations, subcontractors and vendors has helped Robert to complete projects on time, budget & quality.

Robert has conducted extensive Project Management Training & coaching for business & technology users during the project life cycle. He has delivered Project Management and PMO Competency based Training, Coaching & workshops as well as the professional series in Negotiation skills, Conflict Management, Project estimation & budgeting control, Project Leadership & soft skills. He continues to be invited to speak at many public symposiums, seminars and in-house events of MNCs and local conglomerates in the APAC region. He is now undertaking research with the University of Nottingham in Project Management maturity part of which is expected to be published with IGI-global in March 2018.