IT Project Budget & Cost Management

Project Management tips to manage a million dollar IT Project budget from start to finish

4.58 (437 reviews)
Udemy
platform
English
language
Other
category
3,237
students
4.5 hours
content
Feb 2024
last update
$79.99
regular price

What you will learn

Students will learn IT Project budget management from the Project Manager perspective.

Description

With over 4 hours of content, this is the most comprehensive course on how to manage a million-dollar software project budget.    Please note that this course is not about construction budget management.

Gain hands-on knowledge in all the areas of managing a large project budget - from business case creation through financially closing out your project.

Information gathered is from specific past job experience - this is not a theory course but a course to teach you specific step-by-step procedures to manage your project budget.

Gain real-world knowledge of project budget management as we work through a sample project with real implications.  The sample project deals with leveraging a software development vendor to build our organization's new application on the web.

Your project management toolkit is not complete without detailed knowledge of how to manage project finances.  This online training course will give you the background to complete your toolkit.

Bonuses - Sections end with a "resources" area so that you can download bonus materials and templates based on the content of that section.

How long will it take?

With over 40 lectures and 5 hours of content, if you budget just 30 minutes a day, you can complete this course in approximately 3 weeks. 

Is it for me?

This course is for you if you want to learn step-by-step on how to manage a million-dollar budget for a software project.  Remember, this is not a "theory" course but a course to mimic as if you were managing a real-world project.  The skills you learn here can be applied to real-world projects.

What if I don't understand a topic?

As you move through the course, I will provide prompts where you can reach out to me on my website with questions or feedback.  I will PERSONALLY get back to you to answer any questions you may have.  I understand that Financial topics are sometimes tricky to understand because I was there also when I first began as a project manager.

What you’ll learn

  • How projects are initiated financially and how these finances play a major role in the project eventually being approved by executive management for execution.

  • Step-by-step estimation skills to prepare your budget for project expenses such as internal resources, contractors, hardware, software, and business travel. 

  • Step-by-step instructions on how to set up your initial project budget based on estimated expenses.

  • An examination as to how actuals are realized against your project budget.  You will also learn step-by-step how to analyze these actuals to determine if incorrect charges are appearing on your project.

  • How to use Finance performance metrics such as Earned Value (EV). Schedule Performance Index (SPI) and Cost Performance Index (CPI).  Remember, this will be based on a real-world scenario and not based on theory. 

  • Step by step procedures to do your monthly and quarterly re-forecasting for your project budget.

  • Understand the change control process so that you may make changes to your project budget whether you're over or under budget.  Also, learn step-by-step how to re-forecast once your change control is approved.

  • How to financially close out your project and give any unused funds back to the organization so that it may leverage this to fund other projects.


    Who this course is for:

  • Anyone who wants to transition from their current job role to a career in project / program management.

  • Senior Managers who are new to managing project budgets. 

  • PMO Analysts who want to understand the financial performance of projects.

  • Executive steering committee's to understand how an execution project budget works after business case approval.

  • Anyone band new to project management to understand how managing costs and budgets work. 

  • The "accidental" project or program manager.

Content

Course Introduction

Course Introduction
Course Content Introduction

How are Projects Created?

Introduction
Project Overview
Budget Model - Capital
Financial Model - Operating
Business Case
Project Assessment
Project Approval
Conclusion
Resources

Budget Planning - Part I

Introduction
Planning for Resource Costs
SOW & Planning for Vendor Costs
Budget Plan Template Overview
Conclusion
Resources

Budget Planning - Part II

Introduction
Budget Plan Overview - Part 1
Budget Plan Overview - Part 2
Conclusion

How are Project Costs Realized?

Introduction
Internal Labor Actuals
Vendor Labor or Hardware Costs
Master SOW Resources
Time and Expense Charges
Discussion on Earned Value
SPI / CPI Discussion
Conclusion
Resources

Budget Plan Reforecasting - Monthly & Quarterly

Introduction
Monthly Reforecasting
Quarterly Reforecasting
Conclusion

Change Controls

Introduction
Change Control Process
Reforecasting Based on the Change Control
Conclusion
Resources

Project Closure

Introduction
Giving Back Unused Funds to the Organization
Financially Closing the Project
Conclusion
Resources

Course Conclusion

Course Conclusion

Resources & Bonus

Resources
BONUS! Check out my other courses on UDemy

Screenshots

IT Project Budget & Cost Management - Screenshot_01IT Project Budget & Cost Management - Screenshot_02IT Project Budget & Cost Management - Screenshot_03IT Project Budget & Cost Management - Screenshot_04

Reviews

Iris
September 5, 2023
The content was not bad in the beginning. More and more disappointed later with the content and the manner of explanations. Heavy overuse of music feature before and after every lesson does not bring any value, but is an annoying ballast which steels time. What will tell real students in the real auditorium about 10-15 seconds of noise before and after made mandatory to listen? Repetitions, multiple back and forth, overload with introductions and conclusions which do not add a value with their text. Constant proposals to contact the author outside of the course, not clean speech, background household noise... A lot of problems which devalued the course to the unusable state.
Amit
September 5, 2023
The course is very organized and well-presented using examples which makes it easy to understand the concepts and apply into practice. Thanks!
Divya
September 3, 2023
Excellent Stuff ! The financial part of Project/Program management is well explained and displayed. Thank you the session. Time, well spent learning !
IRYNA
June 25, 2023
Course is well structured and giving more clear picture on how to manage project budget and main key components. Course provides deep explanations explanation of SPI/CPI on the real cases and its exceptions. Would be cool to see in bonus sections a review of top popular tools used for IT budgets and costs management.
Gerhardt
June 21, 2023
It covers all the important points that I always wanted to know. I especially like the structured way how it gets presented.
Mari
August 30, 2022
The tutors tone of voice is boring, there are spelling mistakes, pop-ups that appear on his screen during training, the guys say ummm to many times, children running in the background, and also this was not insightful at all, I did not learn a new thing
Slawomir
August 30, 2022
Please shorten the time of the episodes. Please also make more clearer the interrelationships between the files. It is hard to follow this course. Although the concept is interesting the details should be clearly explained.
Agustin
December 28, 2021
It’s a very synthetic course available on the web. Also, the lecturer is very clear and his voice helps to understand better the concepts.
Jair
September 24, 2021
Excellent course! Daniel shares his experience by explaining how cost and change controls using eay to follow examples and templates. I really liked his explanation of how SPI/CPI could be interpreted in the real world for a variable cost project. I would suggest to him limit the intro/outro animations to just to the section start/end and not to every lesson. Thank you Daniel.
David
July 27, 2021
This was a very good course with thorough spreadsheet examples on budgeting and cost management. I would recommend it to others that have questions or need a refresher on this topic.
Richa
August 7, 2020
this is a practical course and not even a single excel sheet is shared with student. How can someone just learn while looking at instructor and understand. How is udemy not reviewing atleast budgeting king of topics for excels to study on.
Dean
August 3, 2020
Really good match to this point ( 6 lessons...). The instructor is clear and concepts are explained in-depth
Denise
July 29, 2020
I took this course to prep for a big interview and I found it to be an excellent, practical review of a project budget from start to finish. The course was paced really well and the presentation was excellent plus the resources will help me with the next project I run. My only constructive feedback was the editing was a little rough in places. I'd rather have this level of content than a slick production that didn't have the depth of this course. Will def look for more courses from Daniel in the future.
Kumar
July 6, 2020
Meet my requirement and expectations. Very good examples and practicals shown. The only thing I miss in online course is we have one way communications.
Lourdes
June 30, 2020
The audio has some drops, he should had reviewed prior to posting the course and edit his voice over when making mistakes on what he is explaining.

Charts

Price

IT Project Budget & Cost Management - Price chart

Rating

IT Project Budget & Cost Management - Ratings chart

Enrollment distribution

IT Project Budget & Cost Management - Distribution chart
2071061
udemy ID
12/6/2018
course created date
9/29/2020
course indexed date
Bot
course submited by