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IT-Business Skills Training

Budget Planning and Management for IT Projects

Curriculum, List/Descriptions


 

 
Budget Planning and Management for IT Projects


Budget Planning and Management for IT Projects -- Two-Day Seminar:  Managing to a budget begins with planning a solid budget. This course teaches the basic skills, tools and techniques for IT project budgeting. Learn the essential skills for planning and managing IT project budgets.

One of the attributes of an effective project manager is the ability to "manage to a budget". This is clear challenge for technical professionals who may have little or no budget management training or experience.

This course provides non-financial professionals with the skills, techniques and tools needed to effectively plan and manage IT project budgets. Building upon the high-level understanding of budgeting developed in the Budgeting Basics course, participantís learn how to:

  • develop and refine budget estimates as projects evolve from concept to concrete plan
  • read, understand, and when necessary act upon the information in standard budget and accounting reports
  • assess the budget implications of proposed scope changes, and justify change orders

Case studies introduce participants to some of the most common and difficult IT project budget planning and management problems. Practical solutions to these common problems are explored, including:

  • degrees of uncertainty in planning
  • delayed approvals
  • significant cost variances Ė positive and negative
  • expanded project scope
  • unanticipated costs

Course Topics


Project Budgeting Information

  • Phases of project budgets and the budget cycle
  • Single year vs. multi-year budgeting; capital vs. expense budgets
  • Components of a project budget
  • Life-cycle costing


Budget Management

  • Monitoring and evaluating project costs; basic variance/trend analysis
  • Change orders and budget modifications
  • Cost control problems & solutions
  • Dealing with Finance organizations


Budget Planning

  • Planning and cost estimating tools: FAST Planner for IT, and MS Project
  • Evaluating tradeoffs: time/resources
  • Spending plans and forecasts


Special Topics

  • What to do when the allocated budget isnít enough
  • Guarding IT organizationís budget
  • Determining who pays

 

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