TRAINING COURSE ON PROJECT BUDGETING, FORECASTING AND COST CONTROL

Introduction

Successful project delivery depends not only on time and scope, but also on financial discipline. The Training Course on Project Budgeting, Forecasting, and Cost Control equips professionals with practical financial skills to develop realistic budgets, perform accurate cost forecasts, and implement strong cost control mechanisms. This training transforms project managers into financial stewards who ensure optimal resource use and maximum value delivery.

With a strong focus on real-world tools, techniques, and reporting methods, this course builds the financial acumen needed to manage complex budgets and avoid costly overruns.

Target Audience

• Project Managers and Cost Controllers
• Program and Portfolio Managers
• Finance and Budget Analysts
• Engineers and Quantity Surveyors
• PMO Officers and Procurement Leads
• Construction and Infrastructure Project Leaders
• Anyone involved in project cost planning or control

Duration

5 Days

Course Objectives

1. Understand the principles of project budgeting and cost management
2. Develop comprehensive project budgets from scope and WBS
3. Forecast costs using historical data and earned value techniques
4. Track and control project costs in real time
5. Identify and manage cost-related risks and variances
6. Use cost performance metrics for informed decisions
7. Communicate financial performance to stakeholders effectively
8. Align financial planning with project and organizational goals

Course Content

Module 1: Foundations of Project Budgeting

• Key concepts in budgeting and cost estimation
• Linking scope, schedule, and budget
• Top-down vs bottom-up estimation
• Direct, indirect, and contingency costs
• Budget baselines and approval processes

Module 2: Forecasting Techniques and Tools

• Types of project cost forecasts
• Rolling wave and lifecycle forecasting
• Using historical and benchmarking data
• Earned value forecasting methods
• Updating forecasts and responding to change

Module 3: Cost Control Methods and Strategies

• Setting cost control objectives
• Cost tracking using software tools
• Managing cost changes and variances
• Dealing with scope creep and procurement cost issues
• Recovery planning for budget overruns

Module 4: Financial Reporting and Communication

• Preparing financial reports and dashboards
• Cost performance index (CPI) and variance analysis
• Integrating with financial systems and ERP platforms
• Presenting cost data to executives and teams
• Audit trails and documentation

Module 5: Budget Governance and Value Realization

• Financial accountability in project teams
• Aligning budgets with benefits realization
• Governance and cost control policies
• Stakeholder reviews and approvals
• Lessons learned from budget management cases

General remarks

• Customizable courses are available to address the specific needs of your organization.
• The participant must be conversant in English
• Participants who successfully complete this course will receive a certificate of completion from Lenol Development Center.
• The course fee for onsite training includes facilitation training materials, tea break and lunch.
• Accommodation and airport pick up are made upon request
• For any inquiries reach us through info@lenoldevelopmentcenter.com or +254 710 314 746
• Payment should be made to our bank