How to Deliver Effective Project Cost Management | Video

How to Deliver Effective Project Cost Management

Project Cost Management can easily seem both dull and difficult. But whatever your attitude to it, there’s nothing your finance director will care about more.

And that means your client, boss, or project sponsor will care about your cost management too. After all, your job title may be Project Manager, but your role is to act as a steward. You’re a steward for the project and all of its resources: and that includes money.

So, effective management of your project costs is non-negotiable. It isn’t your money. So you need to look after it.

And that means two things:

  1. Estimating costs and creating your project budget from them
  2. Monitoring and controlling project expenditure to adhere to your budget
PMI Talent Triangle - Technical Project Management

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This is learning, so, sit back and enjoy

In this video, I’ll take you through all the key aspects of project cost management:

  • What project cost management is
  • Your ‘Project Cost Management Plan’
  • Establishing your costs – the processes of estimating and budgeting
  • The governance considerations
  • Monitoring and controlling project expenditure
  • Tailoring your project cost management process

If you want the accompanying article, ‘Project Cost Management – The Essential Things to Know and Do’.

You may also like the video, ‘Project Financial Management – 5 Tips for Good Project Cost Control’.

For more great Project Management videos, please subscribe to the OnlinePMCourses YouTube channel.

If you want basic Management Courses – free training hosted on YouTube, with 2 new management lessons a week, check out our sister channel, Management Courses.

For more of our Project Management videos in themed collections, join our Free Academy of Project Management.

For more of our videos in themed collections, join our Free Academy of Project Management

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About the Author Mike Clayton

Dr Mike Clayton is one of the most successful and in-demand project management trainers in the UK. He is author of 14 best-selling books, including four about project management. He is also a prolific blogger and contributor to ProjectManager.com and Project, the journal of the Association for Project Management. Between 1990 and 2002, Mike was a successful project manager, leading large project teams and delivering complex projects. In 2016, Mike launched OnlinePMCourses.

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