Project Budget Preparation and Management

Project Budget Preparation and Management | Online Short Course

The Project Budget Preparation and Management course is designed to help organisations and professionals effectively plan, allocate, monitor, and control financial resources within projects. Whether you’re a project manager, finance officer, or team leader, this course provides the essential tools to ensure that your projects remain financially viable and on track.

Accurate and strategic budget management is not only a key aspect of project success—it’s fundamental to achieving organisational goals and avoiding costly overruns. This course equips participants with practical skills to develop realistic budgets, manage financial risks, and ensure accountability throughout the project lifecycle.

What You’ll Learn

Through this course, you’ll gain critical knowledge and practical skills in:

  • Understanding the fundamentals of project budgeting and financial planning.
  • Developing accurate project cost estimates and realistic financial forecasts.
  • Identifying direct and indirect costs, contingencies, and cost drivers.
  • Managing budget approvals, changes, and stakeholder expectations.
  • Monitoring project expenditures and ensuring budget compliance.
  • Using budgeting tools and software to track and report financial performance.

These skills are essential for delivering successful projects that meet scope, time, and cost objectives while maximising resource efficiency.

Who Should Enrol

This Project Budget Preparation and Management course is suitable for anyone involved in project planning and delivery. It’s particularly valuable for professionals responsible for financial oversight, cost control, or resource allocation within projects.

Ideal for:

  • Project managers and coordinators.
  • Finance and accounting professionals involved in project costing.
  • Programme managers and team leads.
  • Procurement and operations officers.
  • Anyone involved in budgeting, forecasting, or project execution.

By enrolling, you’ll gain the confidence and capability to build and manage project budgets effectively—empowering your team to deliver on goals while maintaining financial integrity. This course supports individuals and organisations in enhancing project performance and financial control.

Take the next step—enrol today and build a foundation for financially sound, successful projects.

Identifying project costs by understanding project scope and work breakdown structure. Participants will also gain skills in creating cost budgets and contributing to the monitoring and control of project expenses through record-keeping and effective communication.

Course Content

  • The work elements are identified and extracted from the data.
  • Cost types (elements) are identified and agreed with financial and/or project management authorities.
  • Unit costs to be used for cost estimating are agreed upon with the relevant authority.
  • The resource requirements for work elements are determined in terms of type, quantity, and unit cost, and documented in the agreed format.
  • The elements of cost for each work element/package are estimated using agreed rules and procedures.
  • A cost budget is documented in the agreed format and within agreed time frames.
  • The underlying assumptions of the estimate are explained, motivated, and documented in the agreed format.
  • Approval is obtained for the budget from higher authority in accordance with established standards and procedures.
  • Cost budget figures are balanced and correct in accordance with standard accounting practices.
  • The cost budget is communicated in a manner that ensures all relevant parties are clear on its contents.
  • Actual costs against the budget elements are obtained and records are updated correctly.
  • Deviations of actual costs against budgeted costs are identified and communicated to higher authority.
  • Opportunities for corrective action or improvement are identified and communicated to relevant individuals/teams.
  • Financial records are maintained according to agreed standards and procedures.
  • Non-accredited: Short course only  
  • Duration: 1h 30m
  • Delivery: Classroom/Online/Blended
  • Access Period: 12 Months 
SpecCon Short Course
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