PM 507 Project Financial Management

Cost, scope, and schedule are considered the triad of project management. This course is a continuation of PM 504 and will focus on the cost leg of that triangle and earned value management. Project activity-based financial principles will be presented to support the assignment of resource and cost loaded schedules for performing budget planning and estimating. Students will learn cost estimating methods, budgeting, performance measurement and controls, as well as various project financial management terms, techniques, and tools and how to apply them in managing the various phases of a typical project. Students will use the resource and cost loaded schedule developed from PM 504 and experiment with methods to deal with changes that affect the successful outcome of their project.

Credits

3

Prerequisite

PM 501 and PM 504

Outcomes

1. This course will prepare students to:
2. Formulate detailed control data gathering, management and analytical processes.
3. Integrate advanced use of earned value techniques.
4. Generate probabilistic forecasts for schedule risk and demonstrate duration reduction techniques.
5. Demonstrate project controls and change management to understand and influence the outcomes of a project.
6. Contribute as members of project teams in project development and proposal presentation activities.
7. Apply project schedule status skills to update and report on project while in execution.