Cost Management, How to Project Manage a Hollywood Film!

It’s widely considered that film and movies began in Paris on December 28, 1895, when the Lumière brothers exhibited ten of their short films.  Since then, a predominantly project-based methodology has built up around the production of films and television shows, which took off mainly after 1948.  Today, film and television production methodology covers a wide range of techniques based on genre, format, and budget.  This lecture (presented in 10 parts) will distill the project management details of a film/TV project into this presentation.  We’ll cover how the PMBOK’s 10 knowledge areas are met in the management of a film/TV project, and also discuss paperwork and forms used for communication, and other facets.

Project Cost Management

This area involves the project budget, which means having good estimating tools to make sure that the funds cover the extent of the project and are being monitored regularly to keep stakeholders or sponsors informed.

Plan cost management will determine the method to establish the budget, which includes how and if it will change and what procedures will be used to control it. Each task will have to be estimated for cost, which means including all resources such as labor, materials, equipment, and anything else needed to complete the task.

This will determine the project budget, once you take all the task costs and combine them. Then comes the need to control those costs through an earned value analysis. This is performed regularly throughout the project to make sure the estimated costs are in line with actual expenditures.

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