A PMI Certified Training Course
Project Scheduling, Cost Planning & Value Engineering Skills
Creativity and Excellence in Planning, Functionality and Costing
Modules
This training course is split into two modules:
Module I - Project Scheduling & Cost Planning Skills
Module II - Value Engineering Skills
Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.
Why Choose Project Scheduling, Cost Planning & Value Engineering Skills Training Course?
This course focuses on 2 modules. The first week of training will identify how to deliver reliable cost and schedule estimates during the early concept and planning stages of a proposed project.
The second week of training will explore the Value Engineering (VE) concept: a creative, organized approach with the objective of offering project stakeholders an opportunity to optimize project value, reduce life-cycle costs, address financial issues, and eliminate unnecessary costs.
This Project Scheduling, Cost Planning & Value Engineering Skills training course adopts a systematic step-by-step methodology to support the initiation, planning, execution, monitoring and control and closure of projects. It covers the key elements of roles and responsibilities, planning techniques, forming and managing a multi-disciplinary project team to generate solutions and recommend alternatives; capturing stakeholders requirements and expectations; developing conceptual cost estimates and models; undertaking life-cycle costing analysis; and producing a high-level project plan to guide project execution and control. Practical applications are covered in detail, along with presentations of case studies designed to help participants master the course materials.
This Project Scheduling, Cost Planning & Value Engineering Skills training course will feature:
- Gaining knowledge of techniques used in project estimating, from the conceptual stage to the final detailed estimate
- Understanding the different types of estimates used to confidently and progressively estimate project costs and schedule
- Identifying risk sources and minimize their impact with and without contingency
- Developing effective team management, performance monitoring and control systems
- An integrated approach to scope, time, resources and cost management into a dynamic and manageable model
The Structure
This comprehensive training course consists of two modules which can be booked as a 10 Day Training event, or as individual, 5 Day training courses.
Module 1 - Project Scheduling & Cost Planning Skills
Module 2 - Value Engineering Skills: Improving Performance & Profitability
What are the Goals?
By the end of This Project Scheduling, Cost Planning & Value Engineering Skills training course, participants will be able to:
- Manage and mitigate schedule, cost, scope, and resource risks associated with the project
- Develop a project recovery plan for budget and schedule overruns
- Identify value mismatches through the ratio of whole life costing
- Capture & incorporate stakeholders’ input in the development of the project charter & plan
- Know the fundamental concepts of Value Engineering and Analysis
The Course Content
Module 1: Project Scheduling & Cost Planning Skills
- Basic project management definitions
- Triple constraints – Time, Cost, Scope
- Project selection methods
- Defining project scope
- Cost & schedule estimation, Cost budgeting & control
- Project schedule management using the Critical Path Method
- Resource requirements
- Direct & indirect project costs
- Planning and scheduling limited resources
- Options for accelerating the schedule
- Crashing the schedule - How?
- Risk identification, analysis & management
- Contingency reserve
- PERT, probability and standard deviation formulae
- Network activity risk profiles
- Application: Estimating project duration
- Project risk strategies
- Critical chain analysis and use of buffers
- Comparison of unbalanced with balanced schedules
- Measuring planned progress on schedule
- Risk distribution in contracting
- Actual progress and work conditions
- Managing variable conditions
- Schedule variances & cost variances
- Progress control charts -trend analysis
- Schedule and cost variance forecasting
- Schedule and cost recovery analysis
- Schedule and cost recovery plan
- Project recovery baselines and controls
Module 2: Value Engineering Skills
- Course Introduction and Post-Course Assessment
- What is value? What is Value Engineering (VE)? Why is it important?
- Defining Value Engineering concepts and principles
- VE Study definition, scope and project phases
- VE team and stakeholders’ analysis and management
- Introducing the case study
- The VE Job Plan
- The Information Phase – steps and procedures
- The need for Function Analysis in projects
- Identifying functions and selecting Function Diagrams
- Function Analysis System Technique (FAST)
- Workshop: FAST Diagram
- Function Cost and Worth
- Finding value mismatches
- Facilitation skills and overcoming creativity blockers
- Creativity and Creative thinking within the project environment
- Data collection and Creativity Output
- Workshop: Brainstorm Case Study Alternatives
- Effective Decision-making in project environment
- Project evaluation methods: Subjective evaluation and quantitative evaluation
- Paired comparison and Analytical Heretical Process (AHP)
- Project life-cycle costing and Net Present Value
- Output of the Evaluation Phase
- Workshop: Cost estimating Techniques
- Selection of alternatives and action planning
- Reporting VE findings to Senior Management and project stakeholders
- Oral presentation techniques & interpersonal skills
- Study Levels of the VE Certification by SAVE International
- Review of VE Case study Reports and Wrap-up discussions
- Post-Course Assessment
Certificate and Accreditation
- AZTech Certificate of Completion for delegates who attend and complete the training course
- The applicable PMI Professional Development Units/Contact Hours will be reflected in the Certificate of Completion
How Aztech Saudi Can Enhance Your Professional Career
At Aztech Saudi, we believe that professional development is the foundation of long-term career success. This training course is expertly designed to equip individuals with practical skills, forward-thinking strategies, and the confidence to navigate today’s dynamic work environments. Each course is delivered by subject matter specialists with extensive industry experience, ensuring that every learning experience is relevant, impactful, and aligned with real-world challenges. Whether you're looking to strengthen your technical expertise, enhance leadership abilities, or stay ahead of industry trends, Aztech Saudi provides the tools you need to elevate your performance and deliver measurable value to your organization.
Our training is more than just knowledge transfer—it’s a catalyst for career transformation. By participating in our courses, professionals gain a competitive advantage in their fields, improve their decision-making capabilities, and position themselves for new opportunities and leadership roles. We take pride in supporting individuals across various sectors and career stages, helping them unlock their full potential through high-quality, globally benchmarked learning experiences. With Aztech Saudi as your development partner, you’re not only investing in education—you're investing in a stronger, more successful future.
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