PM 101: Workshop 5 - Resource and Cost Management  

Location: In-Person | COLE 340

Date: Feb 13, 2025  

Time: 1pm – 3pm  

Facilitator: David Vincenti

Now we have addressed the question of what, who, and when, the next major domain is “how much”. This workshop focuses on two highly related domains: resources and cost.  All projects require resources, whether they are people, materials, equipment, and others like intellectual property. Naturally, these resources are open, not free, and they require financial support from project sponsors and owners. These two domains are becoming more important in contemporary businesses as competing demands effective and efficient use of resources. We will also briefly introduce an important method of managing time and cost in project management, the Earned Value Management (EVM).  

As a part of the workshop, we are planning two activities:  

1. Estimate the resources and budget required for a sample project
2. Simulate a real-world case of project cost using earned value management

Benefits

To Participants:

• Learn how to identify, recruit, negotiate for, and apply resources to a project to achieve the best use of people and the highest probability of project success.
• Understand the relationship between project planning and project budgeting to ensure realistic budgets and stronger negotiation positions when budgets and spending are challenged.
• Gain exposure to a technique (earned value management) which offers project managers objective, early, quantitative insight into whether a project is on track

To the University:

• Deploy a common approach to schedule development enabling higher degrees of project success and enabling more productive conversations about shared resources and common priorities.

Please visit the Project Management 101 Learning Series Canvas course to view additional resources.

Project Management 101 Learning Series Schedule