Microcredential – Apply Project Cost Management Techniques
Applying Project Cost Management Techniques will equip project practitioners with the skills and knowledge to assist in creating project budgets, monitoring expenditures, and contributing to cost finalisation processes. Ideal for those in project support roles, the unit focuses on cost estimation, budget management, and continuous improvement in cost management strategies throughout the project lifecycle.
Course Structure
Unit - Apply Project Cost Management Techniques
| 1. Assist in developing project budget | 1.1 Identify project objectives, duration, deliverables and resource requirements1.2 Apply cost-estimating methods and calculate costs of project resource requirements
1.3 Identify estimated costs for tasks and activities 1.4 Communicate cost estimates to relevant staff and confirm accuracy and obtain input for project budget and cash flow management 1.5 Contribute to finalisation of project budget and costs 1.6 Contribute to developing cost management strategies and processes |
| 2. Monitor project costs | 2.1 Monitor income and expenditure against project budget and established cost estimates at predetermined intervals2.2 Identify and report variations in budget using established project cost methods, techniques and tools
2.3 Assist in managing budget and costs using established cost management strategies and processes 2.4 Confirm cost objectives remain achievable throughout project life cycle 2.5 Update cost estimates and budget according to income and expenditure |
| 3. Contribute to cost-finalisation process | 3.1 Assist relevant personnel to review final project outcomes, budget and costs3.2 Seek feedback and identify cost-management improvements
3.3 Document cost-management improvements based on feedback received |
Study Hours
Estimated duration 15 hours
Course Delivery and Start
Start anytime, self-paced and 100% online
Assessment
Assessment will be comprised of written exercises, including short-answer questions, reflective tasks, short reports and/or projects. There are no examinations or due dates for assessment. As a result, you can complete training in your own time and at your own pace with the assistance of unlimited tutor support.
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Graduation
A Certificate of Attainment and Statement of Results will be issued upon successful completion of this course.
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Course FAQs
Why Choose Australian Online Courses?
- Professional development that is widely recognised and respected;
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- We offer twelve (12) months’ access, with extensions available upon application (fees apply);
- Course may be tax deductible; see your tax advisor.
Are there any entry requirements or pre-requisites?
There are no course or subject pre-requisites for entry into our programs. However, our professional development programs are generally intended for people over the age of 18. In some circumstances, enrolments from younger people may be considered. Please complete the AOC Parent Guardian Consent Form prior to enrolling and submit here.
Are there any computer requirements?
To study online with Australian Online Courses you will need a computer (desktop PC/laptop) running a current/updated operating system with reliable high-speed internet access. You will need to use the Google Chrome browser to access your course.
When can I start this course?
You can start within 60 minutes during business hours when you enrol and pay in full with a credit card!
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How is this course delivered?
This course is delivered online via our easy-to-navigate Learning Management System (LMS), where you will discover interactive online learning/written content, resources and assessment.
Do I need to attend classes or undertake any work placements?
No. All courses are delivered online via our LMS and there are no work placement requirements in this course.
What support can I expect from Australian Online Courses?
Unlimited tutor support is available throughout your studies via email only during business hours Monday to Friday. Our Administrative team are available Monday to Friday via email, live chat and telephone.
I am an international student. Can I enrol into this course?
Yes! We accept enrolments from individuals both within Australia and internationally; location is no barrier to entry into our programs.
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