Course details
overview
This 5-day interactive training course is designed to equip project managers, financial analysts, and business professionals with the knowledge and skills they need to estimate project costs, effectively create accurate budgets, and implement cost reduction strategies. This course covers key budgeting methodologies, estimating techniques, risk management, and financial analysis to ensure projects are delivered within budget while maximizing value.
the purpose
By the end of this training, participants will be able to:
Understand the principles of project budgeting and estimating.
Create accurate project cost estimates using a variety of methodologies.
Identify cost drivers and optimize project financial planning.
Implement cost control measures and effectively manage project costs.
Apply risk management techniques to reduce budget overruns.
Track and report project costs using financial performance indicators.
Develop cost reduction strategies to increase project profitability.
Leverage industry best practices for efficient budget management.
Who should participate?
This course is ideal for people who:
project manager and coordinator
financial professionals and accountants
A business analyst involved in the financial planning of a project.
construction managers and engineers
Procurement and supply chain experts
Person responsible for project cost estimation and budget management
Course outline
Day 1: Overview of project budgeting and cost estimation
overview Project budgeting and its importance
Key financial concepts in project management
The role of budgeting in project success
Types of business costs (fixed variable costs, direct indirect costs)
Common challenges in project budgeting and estimating
Introduction to cost estimation techniques
Day 2: Project cost estimation techniques
Similarity estimation (top-down approach)
Parametric estimation (statistical model)
Bottom-up estimates for detailed cost analysis
Three-point estimation (PERT)
Use historical data to improve budget accuracy
Practical exercise in cost estimation
Day 3: Budget planning forecasting and risk management
Developing a detailed project budget
Budgeting tools and software
Contingency planning and reserve analysis
Managing budget uncertainty and risk
Cost variance analysis (planned cost vs. actual cost)
Practical budget planning workshop
Day 4: Cost management and performance measurement
Techniques for monitoring and controlling project costs
Earned Value Management (EVM)
Financial management key performance indicators (KPIs)
Manage change requests and budget adjustments
Communicate budget performance to stakeholders
Day 5: Cost reduction strategies and best practices
Identify and eliminate unnecessary costs
Negotiation techniques to reduce supplier costs
Lean budgeting and cost efficiency models
Process improvement for budget optimization
Implementation of cost reduction initiatives
Course summary
Updated on May 15, 2025
About London Training for Excellence
Empowering professionals for over 10 years
London Training for Excellence is a leading provider of professional development programs established in 2013. For more than 11 years, we’ve been focused on providing individuals and organizations with the skills and knowledge they need to excel in today’s evolving business environment.
wide range of expertise
We offer comprehensive training solutions across a variety of industries, including:
- Artificial intelligence (AI): Stay ahead of the curve with cutting-edge training in AI applications, machine learning, and data analytics.
- Administrator contact information: Learn best practices for building and nurturing relationships, managing communication workflows, and leveraging technology to optimize your outreach efforts.
- engineering: Enhance your technical expertise and stay abreast of the latest advances in various engineering fields.
- Finance and legal: Gain a deep understanding of financial concepts, legal frameworks, and compliance requirements.
- human resources: Handle complex HR tasks, from recruiting and onboarding to employee relations and performance management.
- Leadership and management: Develop leadership skills, communication techniques, and team-building strategies.
- logistics: Optimize supply chain operations and ensure efficient delivery of goods and services.
- Marketing and sales: Develop effective marketing strategies, hone your sales skills, and drive business growth.
- Oil and gas: Acquire specialized knowledge and skills related to the oil and gas industry.
- project management: Learn project planning, execution, and delivery techniques to ensure successful project outcomes.
our approach
At London Training for Excellence, we believe in delivering high quality, interactive training programs that cater to a variety of learning styles. Our experienced instructors are industry experts who combine theoretical knowledge with practical application.
flexible learning solution
We understand that busy professionals need flexible learning options. We offer a variety of shipping methods to suit your needs, including:
- Face-to-face training: Provides more significant face-to-face interactions. In a classroom environment, attendees can connect in real time. In-person training also provides more opportunities for group activities and interactive projects.
- Online course: Our comprehensive online courses allow you to learn from the comfort of your work environment.
- In-house training: We tailor training programs specifically to your organization’s needs and deliver them on-site for maximum effectiveness and employee convenience.
investing in success
By investing in training and development with London Training for Excellence, you will gain the knowledge and skills you need to achieve your professional goals and contribute to the success of your organization.
Contact us now
London Training for Excellence can help you realize your full potential and drive positive organizational change. Contact us today to discuss your training needs and explore ways to empower your employees for the future.