Microcredentials Project Management

Optimising Project Costs: Part 2 – Monitoring and Controlling Project Costs

This is the second microlearning in the Optimising Project Costs learning path. As the second part, you will monitor expenditure against budgets, apply variance analysis, and use Earned Value Management (EVM) to track project performance. You’ll also learn strategies for reporting, compliance, and corrective actions to maintain financial stability.

13-20 hours (Self-paced)

estimated duration

100% Online

learning mode

Start anytime

modality

Assessments

Quizzes Written assignments Real-world scenario tasks
Optimising Project Costs: Part 2 – Monitoring and Controlling Project Costs
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What You'll Learn?

  • Establish and use cost baselines for project financial control.

  • Track and compare actual expenditure against approved budgets.

  • Apply Earned Value Management (EVM) and interpret CPI, CV, SPI, and SV metrics.

  • Conduct budget variance analysis to detect discrepancies early.

  • Prepare accurate financial reports to ensure compliance and accountability.

  • Implement change control and corrective actions for cost variations.

Additional Learning Benefits

  • Courses like this one can contribute to university credit and industry certifications.

  • Many ICT units align with industry-recognised certifications from global technology partners, such as Microsoft, Google, and other leading providers—offering clear pathways to international recognition.

Topics Covered

  • Financial Control Mechanisms
    Cost Baselines Monitoring Change Control
  • Earned Value Management
    PV AC EV CPI CV SPI SV
  • Budget Variance Analysis
    Labour Material Schedule Costs
  • Financial Reporting Techniques
    Budget vs Actual Variance Cash Flow Reports
  • Cost Management Strategies
    Corrective Actions Forecasting Compliance

Learning Outcomes

By the end of this course, you'll be able to:

  • Implement structured monitoring and financial control processes.

  • Apply EVM to measure project efficiency and progress.

  • Detect and respond to cost variances with corrective strategies.

  • Prepare financial reports that ensure transparency and accountability.

  • Maintain compliance with organisational and regulatory requirements.

Learning Pathway

SSC Online provides a flexible learning journey designed to support your goals—whether you’re upskilling, pursuing formal qualifications, or preparing for university or industry certification.

1
 

Start Here

Essential / Premium Plan: Build your knowledge and skills with flexible, self-paced learning. Access up to 100 microlearnings across high-demand fields like business, IT, project management, and cyber security.

2
 

Complete the Learning Pathway

Microlearnings: Finish all microlearnings in this pathway to build practical skills and prepare for the accredited unit.

3
 

Go Further

Accredited Units (available via Professional Plan or pay-per-certification). Complete formal assessments to earn a Statement of Attainment for nationally recognized units of competency.

4
 

Unlock More

Full Qualifications: Stack your accredited units to progress toward a full nationally recognised qualification.

5

Your Future Pathways

After completing full qualifications or selected accredited units, you can::

  • Gain credit transfer to Australian universities toward a bachelor's degree (selected units only).
  • Sit for industry-recognised certification exams (e.g., CompTIA, Azure, AWS, and others) in selected ICT units only.
  • Enhance your employability skills with industry-ready credentials.

*Credit transfer and certification opportunities are available for selected units only.

This microlearning is part of the Optimising Project Costs learning path, aligned with the nationally recognised unit BSBPMG533 – Manage Project Cost.

The full learning path includes:

  • Part 1 – Developing a Project Budget
  • Part 2 – Monitoring and Controlling Project Costs
  • Part 3 – Completing Cost-Management Processes

Once you complete all three microlearnings, you can upgrade to the Professional plan. This provides access to the accredited unit. Successful completion will lead to a Statement of Attainment for ICTCYS610 – Protect Critical Infrastructure for Organisations, issued by South Sydney College (RTO Code: 45279). This nationally recognised outcome positions you for career growth in project financial management, cost control, and budget optimisation.

Nationally Recognised Training

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Certificates Included

Australian Accredited Certification (AQF Certificate)

(Available through formal qualification pathway - Professional Track)

Statement of Attainment for accredited unit

(Unlock when you add Accredited Certification or Professional Track)

SkillX Professional Certificate

(Essential & Premium)

Related Courses

Optimising Project Costs: Part 2 – Monitoring and Controlling Project Costs
Try Free Course

No charge - AUD $0.00

or

Unlimited access to all SSC-developed courses in our micro-credential library.

Get this course, plus full access to all SSC skills and certification courses, with our Essential Plan. Learn more

AUD $48 per month, billed annually

$59 billed monthly

Subscribe Now Upgrade to Professional

Cancel anytime

Full access to courses

Do you have a SkillX code? Apply below or during checkout.

Try Free Course

No charge - AUD $0.00

or

Unlimited access to all SSC-developed courses in our micro-credential library.

Get this course, plus full access to all SSC skills and certification courses, with our Premium Plan. Learn more

AUD $96 per month, billed annually

$120 billed monthly

Subscribe Now Upgrade to Professional

Cancel anytime

Full access to courses

Do you have a SkillX code? Apply below or during checkout.

  1. Choose Your Plan
  2. Login to your account
  3. Start learning instantly