Maricopa Community Colleges  MGT243   20022-20072 
Official Course Description: MCCCD Approval: 11/27/01
MGT243 20022-20072 LEC 2 Credit(s) 2 Period(s)
Project Time and Cost Management
Time management and cost management in a project environment, including activity definition, sequencing and duration estimating. Schedule development and specific tools to support schedule creation and control. Project cost management including resource planning, cost estimation, cost budgeting, and cost control.
Prerequisites: TQM240 or instructor approval.
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MCCCD Official Course Competencies:
MGT243   20022-20072 Project Time and Cost Management
1. Describe the concept of project time management and the history of project scheduling methods. (I)
2. Develop a project activity list, and define predecessor and successor relationships. (I, II)
3. Create activity duration estimates. (II)
4. List pros and cons of activity-on arrow (AOA) method versus precedence diagram method (PDM). (II)
5. Develop a project network diagram. (II)
6. Compare the uses of Bar Charts versus PERT/CPM Networks. (II)
7. Solve free slack and total slack sample problems. (II, III)
8. Calculate program evaluation and review techniques (PERT) durations using optimistic, pessimistic, and realistic estimates. (III)
9. Describe resource allocation, resource balancing, resource pool, crashing of resources and fast tracking. (IV, V)
10. Apply the critical path method (CPM) and program evaluation and review techniques (PERT) to project schedules. (V)
11. Develop a project schedule for a sample project. (V)
12. List advantages of proper project schedule control. (VI)
13. List the types of project costs. (VII)
14. Describe opportunity costs, sunk costs, committed costs, and target costing. (VII)
15. Provide examples of direct and indirect costs. (VII)
16. Solve a simple net present value, internal rate of return, and payback period analysis problem. (VII)
17. Calculate cost of capital and labor costs for sample problems. (VI)
18. List examples of parametric estimation, analogous estimation, and bottom-up estimation. (VII)
19. Develop a sample project budget. (VIII)
20. Describe the use of contingency funds and management reserve. (VIII)
21. Solve a sample earned value problem. (VIII)
22. List various types of modern project accounting tools. (VIII)
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MCCCD Official Course Outline:
MGT243   20022-20072 Project Time and Cost Management
    I. Project Scheduling
        A. Activity Definition
        B. Work breakdown structure
        C. Scope statement
        D. Creating an activity list
      II. Activity Sequencing
          A. Types of dependencies
          B. Predecessor and successor relationships
          C. Precedence diagramming method
          D. Arrow diagramming method
          E. Conditional diagramming method
          F. Bar charts
        III. Activity-Duration Estimating
            A. Estimation techniques
            B. Estimation tools
          IV. Resource Planning
              A. Types of resources
              B. Resource pool
              C. Resource allocation
            V. Schedule Development
                A. Analysis, duration compression and simulation
                B. Resource balancing
                C. Critical path method (CPM)
                D. Software tools
              VI. Schedule Control
                  A. Performance reports
                  B. Analysis techniques
                  C. Schedule change control
                  D. Labor time tracking systems
                VII. Project Costs
                    A. Project Costing Fundamentals
                    B. Cost Estimation
                    C. Parametric estimating
                    D. Analogous estimating
                    E. Bottom-up estimating
                    F. Estimation issues
                    G. Cost management plan
                    H. Software tools
                  VIII. Budgeting
                      A. Cost Control
                      B. Earned Value Management
                      C. Project Accounting Tools
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