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2. PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Lecture 07 : Project Cost Management (2/18)
Introduction
Direct vs. Indirect Cost
1. Direct Cost: Directly attributable to project work. المشروع بأعمال مباشرة تتأثر
2. Indirect cost: Such as overhead, benefits, and costs incurred for more than
project like equipments. المشاريع بين المشتركة التكاليف و االرباح و العامة النفقات مثل
Fixed vs. Variable Cost
1. Fixed cost: Costs that are not changed with production such as setup cost
and rental cost االنتاج مع تتغير ال تكاليف
2. Variable cost: Costs that are changed with production such as material and
labors. الخام المواد و العمالة تكاليف مثل االنتاج مع تتغير التي التكاليف
3. PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Lecture 07 : Project Cost Management (3/18)
Introduction
Definitions :
Life Cycle Cost : Looking at the whole life cost.
(Ex: Don’t pay less for lower quality then pay more for maintenance.
المنتج حياة دورة تكاليف:المنتج عمر مراحل جميع في التكاليف دراسة يتم
مثال:الصيانة و التشغيل مراحل في ًاكثير تدفع ثم ضعيفة جودة معايير باختيار بالتوفير تقوم ال
Value Analysis (value engineering) : Finding a less costly way to perform
the same work. القيمة تحليل:األعمال نفس النجاز تكلفة اقل طرق ايجاد عن عبارة
4. Lecture 07 : Project Cost Management (4/18)
1.Plan Cost Management (Planning)
PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
C o s t M a n a g e m e n t
7.1 Plan Cost Management
Inputs :
Project Management Plan
Project Charter
Enterprise Environmental Factors
Organizational Process Assets
Tools and Techniques :
Expert Judgment
Analytical Techniques
Meetings
Outputs :
Cost Management Plan
5. PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Analytical Techniques
• Strategic options to fund the project
o Self-funding,
o Funding with equity, (Ex: Stocks) التمويلخالل منباألسهم كما المشاركة
o Funding with debt (Ex: Bonds) بالسندات كما االقتراض خالل من التمويل
• Project resources Finance
o Making,
o Purchasing,
o Renting (Short Term),
o Leasing (Long Term).
• Financial analysis techniques:
o payback period,
o Return on investment (value),
o Internal rate of return,
o Net present value.
Lecture 07 : Project Cost Management (5/18)
1.Plan Cost Management (Planning)
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6. PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Cost Management Plan : التكاليف إدارة خطة
• Establish the criteria for planning, structuring, estimating, budgeting, and
control project cost. المشروع تكاليف مراقبة و موازنة و تقدير و هيكلة و تخطيط معايير تأسيس
• Cost management plan may includes: على الخطة تحتوي ان يمكن
1. Units of measure ( ex: staff hours) القياس وحدات
2. Level of Precision (rounding up or down, ex: $125.3 $125)
3. Level of Accuracy (ex: ± 5%)
4. Organizational Links (with accounting systems)
5. Control thresholds ( level at which an action needs to be taken)
6. Rules of performance measurement (Procedures)
7. Reporting formats
Lecture 07 : Project Cost Management (6/18)
1.Plan Cost Management (Planning)
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7. Lecture 07 : Project Cost Management (7/18)
2.Estimate Costs (Planning)
PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
C o s t M a n a g e m e n t
7 . 2 E s t i m a t e C o s t s
Inputs :
Cost Management Plan ■ Scope Baseline
Human Resource Management Plan ■ Project Schedule
Risk Register ■ Enterprise Environmental Factors
Organizational Process Assets
Tools and Techniques :
Expert Judgment ■ Analogous Estimating
Parametric Estimating ■ Bottom-Up Estimating
Three-Point Estimates ■ Reserve Analysis
Cost of Quality ■ Project Management Software
Group Decision-Making Techniques ■ Vendor Bid Analysis
Outputs :
Activity Cost Estimates
Basis of Estimates
Project Document Updates
8. PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Lecture 07 : Project Cost Management (8/18)
2.Estimate Costs (Planning)
Cost of Quality:
• All costs incurred in preventing nonconformance, apprising, or rework. This
will be illustrated later in Quality Management.
Vendor Bid Analysis:
• Analysis of cost estimate based on responsive bids from qualified vendors.
Cost Estimates:
Costs are estimated for all resources such as:
• Direct Cost (Labor, materials, equipment, services, facilities, IT)
• Cost of financing (interest), inflation allowance, exchange rates.
• Contingency reserve.
• Insurance fees.
• Taxes
• Overhead (Site overhead and main office)
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9. PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Lecture 07 : Project Cost Management (9/18)
2.Estimate Costs (Planning)
Basis of Estimates :
• Supporting documentation which provides understanding of how the cost
estimate was derived.
• This may includes:
• Assumptions.
• Constraints.
• Ranges of accuracy (ex:± 5%).
• Confidence level of the final cost estimate.
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10. Lecture 07 : Project Cost Management (10/18)
3.Determine Budget (Planning)
PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
C o s t M a n a g e m e n t
7 . 3 D e t e r m i n e B u d g e t
Inputs :
Cost Management Plan ■ Scope Baseline
Activity Cost Estimates ■ Basis of Estimates
Project Schedule ■ Resource Calendars
Risk Register ■ Agreements
Organizational Process Assets
Tools and Techniques :
Cost Aggregation
Reserve Analysis
Expert Judgment
Historical Relationships
Funding Limit Reconciliation توفيق
Outputs :
Cost Baseline
Project Funding Requirements
Project Document Updates
11. PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Lecture 07 : Project Cost Management (11/18)
3.Determine Budget (Planning)
Cost Aggregation :
• Cost Estimates are aggregated within activities and rolled up to work
package then rolled up to control accounts then rolled up to entire project.
بالكامل المشروع الى ثم التحكم حسابات الى ثم العمل حزم الى األنشطة مستوى من التكاليف تجميع
Reserve Analysis :
1. Contingency Reserve : Allowances for
unplanned changes result from identified risks.
2. Management Reserve : Budgets reserved for
unplanned changes to scope and cost.
Cost estimates
Contingency Reserve
Management Reserve
CostBudget
CostBaseline
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Historical Relationships:
• Historical Relationships involve the use of project characteristics
(parameters) to develop mathematical models to predict total project costs.
• This results in parametric estimates or analogous estimates.
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12. PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Lecture 07 : Project Cost Management (12/18)
3.Determine Budget (Planning)
Funding Limit Reconciliation : التمويل لقيود طبقا المعالجة
• Sometimes funds are not available when needed and you have to
reschedule the activities. االنشطة جدولة اعادة الي يضطرك مما تمويل يوجد ال احيانا
• Expenditures should be reconciled with any funding limits
التمويل على موجودة قيود ألي طبقا االنفاق خطة توفيق و معالجة من بد ال
• Example : Funds for the project will be available on two batches :
$50 millions today and $40 millions in the beginning of the next year.
Cost Baseline : التكلفة أساس خط
• The planned costs over project time. It’s used to
control cost performance in the project. التكاليف
المخططانفاقهاعبرزمنالمشروع
Project Funding Requirements : المشروع تمويل متطلبات
• It can be derived from cost baseline. Funding
often occurs in incremental amounts.
دفعات على تكون ما غالبا و التكلفة أساس خط من استنتاجها يمكن
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13. Lecture 07 : Project Cost Management (13/18)
4.Control Costs (M/C)
PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
C o s t M a n a g e m e n t
7 . 4 C o n t r o l C o s t s
Inputs :
Project Management Plan
Project Funding Requirements
Work Performance Information Data
Organizational Process Assets
Tools and Techniques :
Earned Value Management
Forecasting
To Complete Performance Index (TCPI)
Performance Reviews
Project Management Software
Reserve Analysis
Outputs :
Work Performance Information ■ Cost Forecasts
Project Management Plan Updates ■ Change Requests
Organizational Process Assets Updates ■ Project Document Updates
14. Lecture 07 : Project Cost Management (14/18)
4.Control Costs (M/C)
PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Earned Value Management : المكتسبة القيمة ادارة
• Planned Value (PV) = Budgeted cost for work scheduled (BCWS)
محددة زمنية نقطة عند تنفيذها المخطط األعمال قيمة
• Earned value (EV) = Budgeted cost for work performed (BCWP)
محددة زمنية نقطة عند فعلية اعمال تنفيذ من المكتسبة القيمة
• Actual Cost (AC) = Actual cost for work performed (ACWP)
تنفيذها تم التي لالعمال الفعلية التكاليف
• Schedule Variance (SV) = EV – PV انحراف(تباين)الزمني الجدول
• Cost Variance (CV) = EV – AC التكلفة انحراف
• Schedule Performance Index (SPI) = EV / PV الزمني الجدول أداء مؤشر
• Cost Performance Index (CPI) = EV / AC التكلفة أداء مؤشر
Behind Schedule متأخرالجدول عنSV < 0
On Schedule الجدول معSV = 0
Ahead of Schedule الجدول سابقSV > 0
Over Budget الميزانية تعدىCV < 0
On Budget الميزانية معCV = 0
Under Budget الميزانية نطاق داخلCV > 0
Behind ScheduleSPI < 1
On ScheduleSPI = 1
Ahead of ScheduleSPI > 1
Over Budget الميزانية تعدىCPI < 1
On Budget الميزانية معCPI = 1
Under Budget الميزانية نطاق داخلCPI > 1
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15. Lecture 07 : Project Cost Management (15/18)
4.Control Costs (M/C)
PMP Lectures Prepared By: Eng. Mohamed
ElSaadany
Example :
PV (BCWS) =1000x120 = 120,000.00
EV (BCWP) =1000x130 = 130,000.00
AC (ACWP) =1200*130 = 156,000.00
Variance :
SV = EV - PV = 130'000 - 120'000 = 10'000 (Ahead of Schedule)
CV = EV - AC = 130'000 - 156'000 = -26'000 (Over Budget)
Performance Index
SPI = EV / PV = 130'000 / 120'000 = 1.083 (Ahead of Schedule)
CVI = EV / AC = 130'000 / 156'000 = 0.833 (Over Budget)
Cost/Unit Quantity
Budget 1000 120
Actual 1200 130