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Project Requirements, Procurement and Cost management is a Course

Project Requirements, Procurement and Cost management


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Full course description

Course Description

This course introduces participants to the key concepts, methodologies, and best practices of collecting and managing project requirements, project estimating, budgeting, financial justification, and cost control. Topics include procurement planning, contract selection, source selection, procurement documents and procurement execution and control. The topic of earned value management, a technique commonly employed on larger projects to track progress and performance, will also be covered. Subjects addressed include the process for collecting and analyzing requirements, defining scope through effective WBS practices, procurement planning, execution, and contract control. This course is for project team members, project managers, key stakeholders, and professionals who desire a career in project management. Terminology, processes and definitions, where appropriate follow the Project Management Institute’s (PMI®) Guide to the Project Management Body of Knowledge (PMBOK® Guide).

For more information, visit the MCC Project Management Academy website.


Foundations of Project Management


$745 plus $10 book fee


At the end of the course, students will:

  • Understand typical challenges and obstacles of project success
  • Know the differences and overlaps of the Project Manager and Business Analyst roles
  • Know the history of IIBA, the rise of Business Analysis and the BABOK
  • Know the importance of clear objectives, stable requirements and effective change control
  • Understand the definition of a requirement
  • Know how requirements differ from needs and features
  • Know the categories of requirements
  • Understand the requirements management process: elicitation, analysis & documentation
  • Know the importance of selling the solution to stakeholders and the role of a vision-scope document
  • Know the importance of linking solution requirements and features to specific WBS components
  • Know how to develop and execute a project procurement plan including contract selection, selection criteria, source selection and implementation
  • Understand the differences and appropriateness of contract types (cost reimbursable versus fixed price and procurement documents (IFB, RFP)
  • Implement effective contract change control
  • Understand what drivers are present today that lead to project selection and financial justification
  • Correctly understand and use some key financial terms such as direct vs. indirect costs, ROI and NPV
  • Develop a project cost management plan
  • Implement effective cost management analysis techniques
  • Facilitate team-oriented cost management and estimating processes
  • Lead effective cost management throughout the project life cycle
  • Know various historical and current approaches to cost estimating
  • Develop a project budget
  • Know how a project budget is used as a baseline for establishing cost control and reporting
  • Apply Earned Value Management (EVM) techniques to understand and communicate project status
  • Effectively make cost-related corrective action decisions based upon project priorities


This course is for project team members, project managers, key stakeholders, and professionals who desire a career in project management.

Need Group or Custom Training?

The Workforce Innovation Division is happy to work with you and your team on group or customized training that fits your specific needs. Please contact ourcorporate training team for more information.

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Course Instructors

Robert Caldwell

robert caldwell imageRobert Caldwell is a Project Management Professional (PMP®) and Certified Technical Trainer (CTT+)® with over 10 years professional experience in education and training project management. Robert currently works as a Workforce Training Manager, an adjunct faculty, and corporate trainer here at Metropolitan Community College (MCC). As a faculty member and corporate trainer, Robert teaches various business topics including business management, non-profit management, project management, and financial literacy. Robert also has many years of experience in training implementation, curriculum development, contract management, and training evaluation. Robert holds a Master of Business Administration (M.B.A.) with a Human Resource Management emphasis from Doane University, a Master of Public Administration (M.P.A.) with a Public Management concentration from University of Nebraska at Omaha, a Bachelor of Science (B.S.) in Economics from the State University of New York.

Cost $755
24-Hour Course