PCFM-Project Cost and Financial Management

Project budget and Project costs plays akey role in the project success. The goal of this course is to develop skillsrequired to effectively manage projectscost and budget.

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PCFM - Course Objectives Methods used to estimate costs. Preparing budgets. Controlling and Monitoring Projects Financials. Basic financial management terms & techniques. Preparation of feasibility reports for projects. Interrelationship of various cost control concepts. Responses a project manager might make if a

project is falling behind schedule or overrunning its budget.

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1. PRINCE2. (Projects in Controlled Environments) Since 1975A project Management Methodology. It is the de-facto standard for project management in theUK and is practiced worldwide. There are two qualification levels: PRINCE2 Foundation, PRINCE2Practitioner.2. APM (Association for Project Management ). Since 1972 UKThe Association for Project Management has been at the forefront of the development ofproject, Program and Portfolio management for 40 years. It has grown to become a keyinfluence in the profession representing over 19,000 professionals. APM IntroductoryCertificate, Practitioner Qualification, Project Manager . APM Project Risk ManagementCertificates.

3. PMI (Project Management Institute)-Since 1969. USAA project Management Frame Work Professional (PMP) , Program Management Professional (PgMP) ,

Diffrent Project Mangement Bodies in the world

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PMP STATUS

PMBOK reflects the collaboration and knowledge of workingproject managers and provides the fundamentals of projectmanagement as they apply to a wide range of projects.The PMBOK GuideFifth Edition is the preeminent (excellent)global standard for project management. It represents generallyrecognized Good Practices that all project managers need toattain high standards and project excellence.The project management is accomplished through theappropriate application and integration of 47 Logically groupedproject management Processes.The main activities of each PM process group can be mappedinto 10 knowledge areas. PMBOK Fifth Edition 2013.

The PMBOK GuideFifth Edition

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Project Bouderies

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Define Project.?[PMBOK] Descibes a project as;a temporary endeavor to produce a uniqueproduct, service or result

Temporary :Project is undertaken to achieve a purpose or product following which it is deemed complete and not repeated on a continuous basis. Uniqueness:Project is undertaken to produce a unique product or purpose that cannot be achieved through routine operations.

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Balancing the competing project constraints

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Project Success

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The role of project manager is distinct from afunctional manager or operations manager. A Project Manager is the person assigned by theperforming organization to lead the team that isresponsible for achieving the project objectives. A Functional Manager is focused on providingmanagement oversight for a functional or abusiness unit. An Operations Manager is responsible for ensuringthat business operations are efficient.

Project Manager may report to a Functional Manager,a Portfolio Manager or a Program Manager.

PresenterPresentation NotesRole of a Project ManagerThe role of project manager is distinct from a functional manager or operations manager.A Project Manager is the person assigned by the performing organization to lead the team that is responsible for achieving the project objectives. A Functional Manager is focused on providing management oversight for a functional or a business unit.An Operations Manager is responsible for ensuring that business operations are efficient.Project Manager may report to a Functional Manager, a Portfolio Manager or a Program Manager.

Topic 1.6 Effective project management requires that the project manager possess the following characteristics: Knowledge What PM knows about project management? Performance What PM is able to do or accomplish while applying the Knowledge? Personal How PM behaves when performing project?

PresenterPresentation NotesResponsibilities and Competencies of a Project ManagerCHARACTERISTICSEffective project management requires that the project manager possess the following characteristics:Knowledge What PM knows about project management?Performance What PM is able to do or accomplish while applying the Knowledge?Personal How PM behaves when performing project?

WHAT IS LIFESuccess is not final. Failure is

not fatal. It is the courage to continue that makes the difference Winston Churchill

PCFM-Project Cost and Financial Management PCFM - Course ObjectivesSlide Number 3PMP STATUSSlide Number 5Slide Number 6Slide Number 7Project BouderiesDefine Project.?Project Vs OprationBalancing the competing project constraintsProject SuccessSlide Number 13Slide Number 14WHAT IS LIFE