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Description

Project Cost Management: Estimating, Budgeting and Controlling Overruns

A cost overrun shows up in actual progress long before it appears in the accounts

  • 2 days — 14 h
  • In-person or virtual
  • Intermediate
  • Up to 6 participants

On a project, committed spend only reaches the accounting records several weeks later. The project manager therefore discovers the overrun once it has already been incurred, and the explanation reaches the steering committee too late. Initial estimates are also rarely revised, even though the project scope keeps evolving.

These two days treat cost as a continuous management object. You work on estimating methods, then on building the budget by work package, tracking physical progress, forecasting the final cost and explaining it to sponsors.

Learning objectives

  • Estimate project cost using several methods
  • Build a project budget broken down by work package
  • Track commitments separately from recorded expenditure
  • Measure physical progress and reconcile it with costs incurred
  • Forecast the final project cost and alert the steering committee

What makes this programme different

A project budget built by work package and maintained through to final cost
Commitment tracking kept distinct from accounting records
An overrun alert prepared and then presented to a steering committee

Programme

1Cost Estimating

Costing before committing

  • Analogous and bottom-up estimating methods
  • Accounting for uncertainty and contingency reserves
  • Internal and external project costs
  • Revising the estimate at project gates

2Budget and Cost Structure

Setting up tracking from the outset

  • Breaking the project down into work packages
  • Cost allocation and cost coding structure
  • Baseline budget and revised budget
  • Handling scope change requests

3Commitment and Progress Tracking

Seeing the overrun before the invoice

  • Distinguishing commitment, spend and invoice received
  • Measuring physical progress by work package
  • Reconciling progress with costs incurred
  • Warning indicators usable during delivery

4Final Cost Forecasting and Reporting

Flagging early and making the case

  • Building the estimate at completion
  • Project completion scenarios and remaining margins
  • Preparing the alert to the steering committee
  • Project closure review and lessons learned

Who is it for

Project managers and work package leaders, as well as project controllers and technical leads accountable for a budget.

Prerequisites

Practical experience in project delivery or in budget monitoring of operations.

Dates & locations

36 scheduled dates between November 2026 and December 2027. Seats are confirmed in the order enquiries are received.

November 2026

December 2026

January 2027

February 2027

March 2027

April 2027

May 2027

June 2027

September 2027

October 2027

November 2027

December 2027

None of these dates suit you? We open additional sessions on request, and any programme can be run privately for your team.

Practical details

Before the programme
Online positioning questionnaire. Your development objectives are shared with the trainer, who tailors the practical case studies to your context.
Teaching methods
Theoretical input, workshops and practical case studies. Digital course materials and method sheets provided.
Assessment
Multiple-choice tests and role-play exercises. Assessment of learning at the start and end of the programme, with immediate and 60-day follow-up evaluations.
After the programme
One year of access to the e-learning platform. Self-assessment of the skills acquired and a 30-day follow-up session with your trainer.
How to register
Registration online or on the basis of a quotation.
Lead time
11 working days after confirmation of registration.
Accessibility
Accessible to people of determination. Contact our accessibility coordinator to design a suitable solution: contact@mpf-academy.ae
Start dates
Rolling intake: in addition to the scheduled sessions, this programme can start on request.