- International Fees
International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
Course details
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. This course may be eligible for students to receive funding through the StrongerBC Future Skills Grant at www.bcit.ca/financial-aid/strongerbc-future-skills-grant. Students register themselves into the course, then apply for the StrongerBC Future Skills Grant to cover payment, if eligible.
Prerequisite(s)
- 50% in OPMT 1187
Credits
3.0
Domestic fees
$821.07 - $823.61 See individual course offerings below for actual costs.
Course offerings
Spring/Summer 2024
Below are three offerings of OPMT 2505 for the Spring/Summer 2024 term.
CRN 62480
Duration
Mon Apr 08 - Mon Jul 08 (12 weeks)
- 12 weeks
- CRN 62480
- Domestic fees $823.61International fees are typically three times the amount of domestic fees.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 08 - Jul 08 | Mon | 18:30 - 21:30 | Burnaby SE12 Rm. 309 |
Instructor
Michael Lachocki
Course outline
Domestic fees
$823.61
Important information
- International fees are typically three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
-
No class on May 20th and July 1st
Status
In Progress
This course offering is in progress. Please check back next term or subscribe to receive email updates.
CRN 67543
Duration
Mon Apr 08 - Mon Jun 24 (12 weeks)
- 12 weeks
- CRN 67543
- Domestic fees $821.07International fees are typically three times the amount of domestic fees.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 08 - Jun 24 | N/A | N/A | Online |
Instructor
Michael Lachocki
Course outline
Domestic fees
$821.07
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 three times the amount of domestic fees. Exact cost will be calculated upon completion of registration.
-
This is an asynchronous course that will be held entirely online, and does not require that you meet each and every week at a specific time. Please check the registration page for any specific dates and times that you will need to be available and online for midterms and final exams.
Status
In Progress
This course offering is in progress. Please check back next term or subscribe to receive email updates.
CRN 69432
Duration
Mon Apr 15 - Mon Jun 24 (12 weeks)
- 12 weeks
- CRN 69432
- Domestic fees $821.07International fees are typically three times the amount of domestic fees.
Class meeting times
| Dates | Days | Times | Locations |
|---|---|---|---|
| Apr 15 - Jun 24 | N/A | N/A | Online |
Instructor
Michael Lachocki
Course outline
Domestic fees
$821.07
Important information
- Internet delivery format.
- International fees are typically three times the amount of domestic fees. 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.
Status
In Progress
This course offering is in progress. Please check back next term or subscribe to receive email updates.
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
Subscribe
Interested in being notified about future offerings of Project Resourcing and Cost Management (OPMT 2505)? If so, fill out the information below and we'll notify you by email when courses for each new term are displayed here.
Programs and courses are subject to change without notice.