Elements and Performance Criteria
- Direct project budget development
- Direct project managers to determine resource requirements for individual tasks, in consultation with appropriate stakeholders, to develop a project budget which contributes to the program budget
- Direct project cost estimation to enable budgets and cost management processes to be developed for the project life cycles
- Direct and authorise cost strategies and cost management plans to ensure clarity of understanding and ongoing management of project finances and the program budget overall
- Manage program costs
- Develop and maintain cost management systems to direct monitoring of actual expenditure and to control costs throughout multiple project life cycles and for the program overall
- Conduct analysis, evaluate options and implement responses to project cost variations to maintain control over changing financial and overall program objectives
- Monitor internal and external influences on program costs and, where necessary, seek approval from business management for changes to the approved program budget
- Direct financial completion
- Provide direction for project finalisation activities to achieve integrated financial and physical project completion within program and therefore client and organisational expectations
- Review project outcomes from available records at the finalisation of each project, and analyse information to determine the effectiveness of cost management systems
- File program lessons learned as a resource for future reference and, where necessary, refer to higher project authority for application in planning strategic direction changes and business outcomes for future projects