Budgeting, Procurement and Project Closure
Learning cycles
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3 4 months
In the final learning cycle, you will enhance your financial management skills by examining funding sources, estimating techniques, and various kinds of overheads which include direct indirect, and fixed costs. You will demonstrate your ability to develop and agree project budgets, monitor forecasts, and actual costs and create processes to control changes. You will be able to confidently create tracking systems for actual costs, accruals, and committed costs and confidently exploring and presenting alternative cost breakdowns when appropriate. You will gain understanding of earned value management and associated data including variances and performance indexes. Finally, you will examine how to report the benefits of the project and gain understanding of the benefits management process including project handover, lessons learned and project closure.
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