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\nProject Cost Management and Self Preservation\n

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\nProject Cost Management is a popular topic. Not because people enjoy it, though. Mostly because people don’t know how to do it. And it’s not part of many Project Management training courses.My history with Project Cost Management is...\nProject Cost Management is a popular topic. Not because people enjoy it, though. Mostly because people don’t know how to do it. And it’s not part of many Project Management training courses.

My history with Project Cost Management is unusual.
No one taught me project cost management. I kind of figured it out for myself.

When I was managing project costs, I created my own spreadsheets. And these were multi-million-dollar projects!

I took a lot of time learning how budgets and cash flows work, and how to build robust spreadsheets. I also spent time with those spreadsheets, to get a deep understanding of the numbers and what they meant.

This was time well spent. My bosses and my clients took a profound interest in Project costs. And nothing pushes cost management up your priority list better than strict oversight.

As a project manager, I had two sets of performance measures against which I was primarily judged:
1. Client satisfaction
2. Financial metrics

Getting good at cost management was a matter of self-preservation!\n
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Resource Details

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Educator Rating
Not yet Rated
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Media Length
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3:36
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Grade
10th - Higher Ed
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Subjects
Career & Technical Education
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Media Type
Instructional Videos
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Source:
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\nOnline PM Courses\n\n
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Date
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2022
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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work, time
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Additional Tags

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project cost management, cost management, project budget, project management, project budget management, project manager, cost management in project management, budget management, project cost control, project management tools, mike clayton, onlinepmcourses, project financial management, project cost management video, financial management, clients, good, organization, people, part, system, fact, learn, projects
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