Want to manage bigger projects?
Then you need to know how to manage costs
Do you want to take on more responsibility and manage larger projects? Then you will consequently have to take over the responsibility over costs.
But few of us are trained to deal with the financial side of projects. Therefore it is helpful that have an understanding of the process for setting up and managing a budget.
This course will prepare you for your next project where you have budget responsibility and teach you best practices for staying in budget.
What You'll Learn
- How organizations handle their financial planning
- Annual budgets vs. rolling forecasts
- Cost types: what goes into a budget
- Who do you have to work with?
- Tools: What tools can you use to plan and manage your budget
- Setting up a budget
- How to ensure you don't run over budget
- Keeping track of actuals
- How to handle cost deviations
- Getting the budget approved
- Communicating a budget
- How to report the cost status to senior leadership
A Practical, Hands-On Overview of Project Budgeting
This is not a theoretical course. It is designed to get you up to speed quickly so that you can manage a project budget.
See how I work with the numbers
I'm sharing lots of examples (with screenshots) on how I prepare and present cost and budget information and how I give cost updates to senior leadership.
Your instructor
Hi, I'm Adrian Neumeyer, CEO of Tactical Project Manager. For over 10 years I have managed large IT projects in the manufacturing sector, usually with budget responsibility. I also worked for 1,5 years in the finance department of a multinational, which allowed me to get familiar with financial planning and budgeting processes.
Content of this course
- Welcome (1:19)
- Financial planning in companies (5:40)
- Stakeholders in the budgeting process (1:17)
- Tools: What tool is best for managing your budget? (4:36)
- Cost types: what goes into a budget? (2:04)
- Setting up your project budget (4:23)
- Communicating the budget (3:54)
- Getting your budget approved (0:51)
- Tracking actual costs (3:25)
- Analyzing cost variances (2:41)
- Practical tips for staying within budget (2:26)