New Training: Project Cost Management
| new skills - Team Nuggets

New Training: Project Cost Management

In this 9-video skill, CBT Nuggets trainer Simona Millham covers the four project management processes in the topic of cost management. Watch this new Project Management training.

Watch the full course: Certified Associate in Project Management (CAPM)

This training includes:

  • 9 videos
  • 49 minutes of training

You’ll learn these topics in this skill:

  • Plan Cost Management
  • Estimate Costs
  • Determine Budget
  • Introduction to Earned Value Management
  • Variance Analysis
  • Forecasting
  • VAC and TCPI
  • Earned Value Formulas Roundup!
  • Control Costs

What is Variance Analysis and How Does It Help Organizations?

Variance Analysis is a quantitative financial strategy that analyzes the differences between target numbers and actual numbers over a particular reporting period. Take, for example, a sales quarter. If the target sales for Q1 were $1,000,000 but the actual reported sales for Q1 were $900,000, the variance analysis would show a variance of $100,000. This analysis can give insight into over performance or underperformance of quantitative-based goals. Furthermore, it allows organizations to investigate the root cause of the variance. In our previous example, the organization could investigate what drove the variance in sales and take action to remediate these challenges. This variance could be due to market changes, product release challenges, or customer churn. In any case, determining the root cause of the variance is critical, as it allows organizations to correct course and realign their positioning to meet the target goal.



Ultimate Project Management Cert Guide

A 49-page guide to every PMI, Scrum, and ITIL certification, and how they fit into your career.

By submitting this form you agree that you have read, understood, and are able to consent to our privacy policy.


Learn anytime anywhere with our mobile apps.

I have read and understood the privacy policy and am able to consent to it.

© 2021 CBT Nuggets. All rights reserved. Terms | Privacy Policy | Accessibility | Sitemap | 1550 Valley River Drive, Eugene, OR 97401 | 541-284-5522
CBT Nuggets