Overview
Course Outline
Scheduled Dates

Course Overview

Cost management is critical for organisations seeking to maintain profitability, control expenditures, and make informed financial decisions. This intensive 5-day course is designed for professionals responsible for managing budgets, analysing costs, and ensuring value throughout a project or organisation's lifecycle.

Participants will gain the knowledge and tools to effectively plan, track, control, and report on costs using industry best practices. This includes budgeting techniques, variance analysis, cost estimating, lifecycle costing, and cost optimisation strategies. The course aligns with global project and cost management frameworks and supports learners pursuing a recognised Certified Cost Manager credential.

Objective:

By the end of this course, participants will be able to:

Understand the full scope of cost management and its role in business success.
Plan and develop accurate cost estimates and budgets.
Monitor, control, and report cost performance effectively.
Analyse variances and recommend corrective actions
Apply cost reduction and value engineering strategies.
Integrate cost management with scheduling and risk management.
Support strategic decision-making through cost insights
Align cost management with organisational financial goals.

Course Outline

Day 1: Cost Management Fundamentals

Principles and objectives of cost management
Cost management lifecycle: planning to close out
Classifying direct, indirect, fixed, and variable costs
Cost elements in projects, operations, and procurement

Day 2: Budgeting and Cost Estimating Techniques

Creating cost estimates: top-down, bottom-up, parametric, analogous
CAPEX and OPEX planning
Developing cost baselines and funding requirements
Aligning budgets with scope and resource planning

Day 3: Cost Control, Monitoring and Reporting

Earned Value Management (EVM) overview
Measuring performance against baselines
Cost variance (CV) and cost performance index (CPI)
Forecasting cost to completion and reporting tools

Day 4: Value Engineering and Cost Optimisation

Principles of value analysis and functional cost reduction
Identifying cost drivers and waste elimination
Benchmarking and cost-saving initiatives
Case study: Applying value engineering to a project or service

Day 5: Integrated Cost Management and Certification Review

Linking cost to time and risk management
Lifecycle costing (LCC) and Total Cost of Ownership (TCO)
Cost audit, compliance, and documentation best practices
Final knowledge review and certification preparation

Schedule & Fees

3 For 2Offer

Get the most out of group training with our special discount! Register 3 of your participants together on the same course and only pay for 2.

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Location

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London

Popular

Certified Cost Manager

Date: 07 - 11 Jul 2025

Duration: 5 Days

Venue: London

Price: $5,300

Popular

Certified Cost Manager

Date: 15 - 19 Sep 2025

Duration: 5 Days

Venue: London

Price: $5,300

Popular

Certified Cost Manager

Date: 01 - 05 Dec 2025

Duration: 5 Days

Venue: London

Price: $5,300

Certified Cost Manager

Date: 07 - 11 Jul 2025

Duration: 5 Days

Venue: London

Price: $ 5,300

Questions? Speak to our friendly training advisor

John Bayson

Chat on Whatsapp

john@londontfe.com

+44 2071836657

CPD Standards

Employees of professional or formally regulated bodies are generally expected to have CPD accredited training. This type of accreditation ensures that the training is knowledgeable, informed and constantly updated. It ensures our standards as a company are kept high and consistent.

100000+ Members in
59+ Countries with
3000+ Chapters

Our LTFE-Certified courses are designed for those ready to go the extra mile. Participants who complete the course and pass the final assessment on the last day will be awarded our LondonTFE Professional Certificate (LTFE), a testament to their commitment and expertise.

Why Choose London Training For Excellence?

Reliability

We will never cancel a confirmed booking
Support

We offer around the clock support
Tailored

We customise our courses to suit your personal learning needs
Quality

Our courses are delivered by highly experienced industry experts
Recognition

All our courses are accredited by the CPD Standards Agency

Frequently Asked Questions

How can training courses be used as a company benefit?

Training is hugely beneficial to both yourself and your company. It enables you to employ new technologies, increases your productivity and enables you to be more autonomous. Have a look here at our infographic on the importance of training and development!

How often do you update your course content to ensure relevancy?

Our course content is constantly reviewed and updated to ensure we stay up to date with all the latest trends. After every course is completed we review the feedback and improve the material where necessary.

Do you keep your classroom environment and instructional methodologies current with today’s real-world workplace?

Yes, we focus our training on ‘real-world’ scenarios and our trainers are all highly experienced and skilled in their relevant fields.

Are your courses eligible for professional certification?

Yes, we offer certification with all our courses, every course is entitled to CPD (Continuous Professional Development) hours which you can put towards your professional portfolio.

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