Understanding and Managing Budgets

Price of course: $79.00
Estimated length: 3 hours
Access Time: 90 days
Total PMI PDUs/Contact Hours: 3
  • Strategic & Business Mgmt: 2.25
  • Technical: 0.75
IACET CEUs: .3

Course Description

A budget is a detail of expenses and incomes for a set period of time. This introductory-level course covers budgets and how they are used in organizational settings including the uses and functions of master budgets, operating budgets, sales, production and cost of goods sold budgets, and cash budgets. You will also learn about the budgeting process, and how organizations are using different budgeting techniques to overcome operating challenges.


Learning Outcomes

  • Recognize the uses and functions of budgeting
  • Recognize the key activities, considerations, and benefits of strategic organizational planning
  • Recognize the purpose and make-up of a master budget
  • Identify the components and calculations used to create a master budget and recognize uses for this information
  • Identify the components and purpose of an operating budget
  • Recognize how sales, production, and cost of goods sold budgets are created and perform related calculations
  • Recognize the purpose of cash budgets and how they are prepared
  • Identify ways the budget process can be managed for optimal results and recognize the benefits and limitations of the management-by-objective system

Key Features

  • Expert-supported
  • Mobile-friendly
  • Accessible
  • Badge and credit-awarding
  • Games & Flashcards
  • Video content
  • Real-world case studies
  • Audio-enabled in app

Refund Policy

You may request a refund up to 5 days from the purchase date. The registration fee will only be refunded if less than 10% of the course has been completed. Completion percentage can be viewed on the Course Progress page from within the course.


Notes

Estimated time to complete: 5 hours

This course has an "Ask the Expert" feature, which submits your questions directly to an expert in the field you are studying. Questions are answered as quickly as possible and usually within 24 hours.

This course does not require any additional purchases of supplementary materials.

Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEU credit. Learners will have three attempts at all graded assessments.

Project Management Institute, PMI, the Registered Education Provider logo, Project Management Professional, PMP, Project Management Body of Knowledge, PMBOK, PMI Agile Certified Practitioner, PMI-ACP, PMI Risk Management Professional, PMI-RMP, the PMI Talent Triangle, and the PMI Talent Triangle logo are marks of the Project Management Institute, Inc.

Information in this course has been taken from A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) — Sixth Edition, Project Management Institute Inc., 2017.

The following list outlines the PDUs you will earn for completing this course, based on the certification you have.

  • PMP®/PgMP®
    • Technical: 0.75
    • Leadership: 0
    • Strategic/Business: 2.25
    • TOTAL: 3
  • PMI-RMP®
    • Technical: 0
    • Leadership: 0
    • Strategic/Business: 2.25
    • TOTAL: 2.25
  • PMI-SP®
    • Technical: 0.5
    • Leadership: 0
    • Strategic/Business: 2.25
    • TOTAL: 2.75
  • PMI-ACP®
    • Technical: 0
    • Leadership: 0
    • Strategic/Business: 2.25
    • TOTAL: 2.25
  • PfMP®
    • Technical: 0.75
    • Leadership: 0
    • Strategic/Business: 2.25
    • TOTAL: 3
  • PMI-PBA®
    • Technical: 0.75
    • Leadership: 0
    • Strategic/Business: 2.25
    • TOTAL: 3