- International Fees
International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
Course Overview
The ability to have project costs come in under, or close to, the approved budget is one of the goals of all project managers. This course will cover the tools and techniques required to translate project objectives and scope into units of cost that can be used to create a budget. All aspects of project cost management will be addressed, including: planning, estimating, budgeting, financing, funding, managing, and controlling costs. Methodologies for the procurement of products/services outside of areas specific to the project team and contract management will also be examined as these relate to project costs. This will include monitoring contract fulfillment and managing change process controls.
Prerequisite(s)
- 50% in OPMT 1187
Credits
3.0
Domestic fees
$837.69 - $879.73 See individual course offerings below for actual costs.
Learning Outcomes
Upon successful completion of the course, the student will be able to:
- Build a project cost management plan based on information from a project management plan.
- Determine summary budget and approval requirements based on a given project charter.
- Describe the enterprise environmental factors that affect the costing of a project.
- Plan the cost management processes of a project, including policies, procedures, and documentation necessary for planning, managing, expending, and controlling costs.
- Estimate project costs using various methodologies, such as parametric estimating, bottoms-up estimating, and three-point estimating.
- Explain why a project reserve (contingency fund) is needed.
- Build a project budget.
- Evaluate and propose improvements to cost performance using appropriate measurement methodologies, including earned value management.
- Develop a project procurement plan, including supplier selection criteria and methods, contract awarding, and contract management.
- Differentiate between various methods of awarding contracts and select the appropriate method.
- Assess contract performance and propose necessary actions for improvement.
- Describe the necessary actions to close a contract.
Effective as of Winter 2014
Related Programs
Project Resourcing and Cost Management (OPMT 2505) is offered as a part of the following programs:
- Indicates programs accepting international students.
- Indicates programs with a co-op option.
School of Business + Media
- Project Management
Associate Certificate Part-time
Course Offerings
Fall 2024
Below are three offerings of OPMT 2505 for the Fall 2024 term.
CRN 42215
Dates
Mon Sep 09 - Mon Dec 09
- 11 weeks
- CRN 42215
- Domestic fees $879.73
Status
In Progress
This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 09 - Dec 09 | Mon | 18:30 - 22:00 | Burnaby SE06 Rm. 112 |
Instructor
Michael Lachocki
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- No class on Sept 30, Oct 14 and Nov 11. This course is eligible for students to receive funding through the StrongerBC Future Skills Grant at www.bcit.ca/financial-aid/strongerbc-future-skills-grant/. Students will register for the course themselves, and then apply for the StrongerBC Future Skills Grant to cover payment (if eligible).
CRN 48608
Dates
Mon Sep 09 - Mon Nov 25
- 12 weeks
- CRN 48608
- Domestic fees $837.69
Status
In Progress and Full
This course offering is in progress and full. Please check this page for other currently available offerings or subscribe to receive email updates.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 09 - Nov 25 | N/A | N/A | Online |
Instructor
Michael Lachocki
Course outline
Important information
- Internet delivery format.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- This course is asynchronous and does not require you to meet every week at a specific time, however, there will be specific timelines for assignments and exams. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date. This course is eligible for students to receive funding through the StrongerBC Future Skills Grant at www.bcit.ca/financial-aid/strongerbc-future-skills-grant/. Students will register for the course themselves, and then apply for the StrongerBC Future Skills Grant to cover payment (if eligible).
CRN 50531
Dates
Mon Sep 16 - Mon Dec 02
- 12 weeks
- CRN 50531
- Domestic fees $837.69
Status
In Progress
This course offering is in progress. Please check this page for other currently available offerings or subscribe to receive email updates.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Sep 16 - Dec 02 | N/A | N/A | Online |
Instructor
Michael Lachocki
Course outline
Important information
- Internet delivery format.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- This course is asynchronous, and does not require you to meet each and every week at a specific time, however, there will be specific timelines for assignments and exams. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date. This course is eligible for students to receive funding through the StrongerBC Future Skills Grant at www.bcit.ca/financial-aid/strongerbc-future-skills-grant/. Students will register for the course themselves, and then apply for the StrongerBC Future Skills Grant to cover payment (if eligible).
Winter 2025
Below are two offerings of OPMT 2505 for the Winter 2025 term.
CRN 82141
Dates
Mon Jan 06 - Mon Mar 31
- 12 weeks
- CRN 82141
- Domestic fees $879.73
Status
Seats Available
This course offering has seats available.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Jan 06 - Mar 31 | Mon | 18:30 - 21:30 | Burnaby NE01 Rm. 404 |
Instructor
Michael Lachocki
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- No class on Feb 17. This course is eligible for students to receive funding through the StrongerBC future skills grant at www.bcit.ca/financial-aid/strongerbc-future-skills-grant/. Students will register for the course themselves, and then apply for the StrongerBC future skills grant to cover payment (if eligible). The Winter 2025 StrongerBC future skills grant (FSG) will only be eligible for students continuing their FSG-eligible program that they started in Fall 2024.
CRN 83190
Dates
Mon Jan 06 - Mon Mar 24
- 12 weeks
- CRN 83190
- Domestic fees $837.69
Status
Full
This course offering is full. Please check this page for other currently available offerings or subscribe to receive email updates.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Jan 06 - Mar 24 | N/A | N/A | Online |
Instructor
Michael Lachocki
Course outline
Course outline TBD — see Learning Outcomes in the interim.
Important information
- Internet delivery format.
- Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
- International fees are typically 3.12 times the domestic tuition. Exact cost will be calculated upon completion of registration.
- This course is asynchronous, and does not require you to meet each and every week at a specific time, however, there will be specific timelines for assignments and exams. It is important you have a stable and consistent internet connection to access course content. Course content, type and quality of assignments, and general standards for this online course are the same as classroom courses. To be successful in this online course, plan to spend 7-10 hours per week on your studies, or more of it’s a condensed course, starting Week 1. Important course information will be sent to your myBCIT account prior to your course start date. This course is eligible for students to receive funding through the StrongerBC future skills grant at www.bcit.ca/financial-aid/strongerbc-future-skills-grant/. Students will register for the course themselves, and then apply for the StrongerBC future skills grant to cover payment (if eligible). The Winter 2025 StrongerBC future skills grant (FSG) will only be eligible for students continuing their FSG-eligible program that they started in Fall 2024.
Programs and courses are subject to change without notice.