Cost Management & Economics

Cost Management & Economics

This course provides participants with essential knowledge in cost management principles and economic concepts that influence business and project decisions. It helps professionals understand cost structures, budgeting, and the economic environment affecting project viability.

Course Objectives

  • Understand different categories and types of cost.
  • Apply budgeting, cost control, and accounting techniques effectively.
  • Develop skills in analyzing cash flows and project profitability.
  • Learn the fundamentals of economics and financial decision-making.

Topics Covered

  • Cost and Categories of Cost
  • Break Even Analysis
  • Cost Accounting and Budgeting
  • Managing Budgets and Cash Flows
  • Principles of Economics
  • Depreciation Techniques
  • Time Value of Money

Course Details

  • Duration: 35 Hours
  • Level: Intermediate
  • Language: English/Arabic
  • Instructor:TBA
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Course Breakdown

•Cost Elements, Pricing & Costing
•Resources Categories (Materials, Labor, Machinery, Equipment, & Tools)
•Economic Costs & Activity Based Cost Management (Depreciation & Economic Analysis Techniques)

•Cost Estimation Methods
•Process Product Manufacturing
•Discrete Part Manufacturing

• Project Planning and Scheduling.

•Break Even & Earned Value Analysis
•Performance and Productivity Management

•PM Fundamentals
•WBS, OBS, CBS
•Leadership Concepts and Theories
•Quality & Value Eng.
•Strategic Asset Management
•Contracts and Change management

•Finance and Cash Flow Analysis (Time Value of Money)
•Investment Decision (Value, CF & Risk)
•Statistics and Optimization
•Risk Management

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