Chapter Meeting
| Topic: | Project Cost Management |
| Speaker: | Frank Cox, MS, PMP, MPM |
| Sponsor: | RKV Technologies |
| When: |
January 15, 2009 5:00-7:15 p.m. |
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| Where: |
Courtyard by Marriott 3301 LeMone Industrial Blvd. Columbia, MO 65201 Directions to Courtyard by Marriott |
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| Register: |
This event costs $20 for both members and non-members.
Please register through Acteva, our new event management system, by clicking the button below. The registration deadline is January 8, 2008. The registration deadline for this event has passed. |
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| Cancellation: |
If you register but can't attend the event, you may cancel before the registration deadline. You will receive a refund by check after the event. The amount of the refund will be less a 10% processing fee. To request a refund, please notify pmivpprograms@pmimidmo.org
You may not cancel your registration after the registration deadline, but we encourage you to send someone in your place. |
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| PDUs: |
The PMI Mid-Missouri Chapter is a PMI Registered Education Provider, and aims to provide educational opportunities to all its members.
This event provides 1.0 PDU credits for certified Project Management Professionals. |
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| Menu: |
Appetizers
For special dietary needs, please notify pmivpprograms@pmimidmo.org |
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| Agenda: |
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About the Program:
PROJECT COST MANAGEMENT – A REAL ORGANIZATIONAL MANAGEMENT MULTIPLIERUnfortunately, project cost management is one of the weakest areas in many types of projects. It is essential to convert such weakness into strength in order to help project management achieve its full potential in organizations. Applied thoughtfully and rigorously, project cost management can help organizations use their limited funds knowledgably, collaboratively, and efficiently.
Project cost management includes three processes that too often fail to get included in project planning and control: estimate costs, determine a budget, and control costs. All three processes are required to ensure that a project may be completed within an approved budget. The first two processes, estimating and budgeting, result in outputs that are used as crucial inputs to project management plan development. Initially this presentation will touch on the cost process concepts and key outputs of estimating and budgeting: activity cost estimates, the basis of estimates, project document updates, the cost performance baseline, and project funding requirements.
Transitioning, the presentation will continue by covering the final project cost management process, cost control, which results in work performance measurements, budget forecasts, organizational process asset updates, change requests, and project management plan and related document updates. Cost control is a generally entirely overlooked function of overall project monitoring and control. Why this is so and what practitioners may do to correct it will also be covered.
Up to twenty distinct tools and techniques may come into play during project cost estimating, budgeting, and control. After introducing the cost management processes and their outputs during the first half of the presentation, the presenter will introduce practical tools and techniques that project managers may develop or adopt and use to make sure project cost management processes get applied as required—especially when labor, material, and other costs are anticipated to be significant.
Speaker Biography:
Frank Cox, MS, PMP, MPMFrank is a certified project management and purchasing officer in the Missouri Information Technology Services Division. He has supported the largest department in the state government, the Missouri Department of Corrections, since 1999. Since August 2007, he also has served as an IT purchasing officer.
In 2000, he helped establish, charter, incorporate and register the PMI Mid-Missouri Chapter. Frank served as chapter VP of communications for four years and as first VP for two years. From January 2006 to December 2007 he served as the chapter’s fourth elected president, and from January to December 2008 as the past president / adviser. Frank also contributed to project management while serving as a member of the Missouri Project Management Standing Committee from 2005 to 2008.
At work, Frank supports 12 certified IT systems project managers, and he contributes to the planning, scheduling, and control of a statewide program, ultimately 87 integrated IT projects, to improve networking and computing at campus-level prisons and other facilities throughout the Department of Corrections.
At home, Frank and his wife, Kelly, are raising three teenagers. He enjoys spending his limited spare time with his family.