Mastering the justification of additional costs

Mastering the justification of additional costs

Description

Mastering the justification of additional costs

How can you effectively justify a budget overrun in a project? How should you structure your response to the expectations of a sponsor or steering committee?

This e-learning module gives you the keys to responding methodically, confidently, and impactfully.

Whether you are a project manager, management controller, or sponsor, this module can be taken independently or as part of the complete course dedicated to “Finance, Management Control & Procurement” to strengthen your skills in budget control and resource management.

Why is this module essential?

In project management, cost overruns are not uncommon. What sets an experienced project manager apart is their ability to calmly analyze, argue precisely, and clearly convince on the reasons for a budget variance.

What you will experience in this module:

  • ✔ A clear understanding of the typical causes of cost overruns
  • ✔ Tested methodologies to structure your justification
  • ✔ An immersive scenario: virtual interview with a project sponsor
  • ✔ Concrete examples of good and bad practices
  • ✔ A final quiz to validate your learning

At the end of this module, you will be able to:

  • Formalize a concise explanation of an overspent budget
  • Respond accurately to a sponsor’s objections
  • Identify the impacts of initial assumptions and trade-offs
  • Structure your presentation in 3 key stages: facts, causes, solutions
  • Strengthen your driving posture with greater credibility

Short, targeted training, directly applicable in the professional field.

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