This unit of study focuses on the integrated management of project scope, time and cost for effective control and delivery of projects. The scope of the subject matter includes delivering comprehensive theoretical knowledge and application skills in integrated management and control of cost and schedule in complex projects. By successful completion of this unit of study, students should achieve a clear understanding of the time and cost management and appropriate control measures in project development environments. Students should be able to: Discuss the project management trade-offs on balancing the triple-constraint; Explain the integrated cost and schedule control processes; Construct work breakdown structure (WBS) using given project information; Discuss scope monitoring and change control system; Produce networks diagrams for project scheduling; Apply critical path analysis (CPA) in network scheduling; Apply critical chain method in project scheduling; Estimate the project cost and duration; Apply resource scheduling techniques; Construct a timephased budget plan; Discuss cost monitoring and control processes; Undertake earned value analysis (EVA); and Undertake integrated cost and schedule control processes using project management software (Microsoft Project or Primavera)By the end of this unit of study, students should be able to: Undertake WBS exercises, CPA, EVA and tradeoff analysis using the given project information; Explain how the components of time and cost management interrelate; Explain in depth why integrated cost and schedule management are important to project management; and Analyse a project situation that involves time and cost management issues and apply a solution(s)
Workshops, Seminars, E-Learning
Refer to the assessment table in the unit outline.