PROJECT COST MANAGEMENT

PROJECT COST MANAGEMENT

1. Plan Cost Management

   • Inputs
     • Project management plan
     • Project charter
       • provides the summary
     • Enterprise environmental factors
     • Organizational process assets
   • Tools and Techniques
     • Expert judgment
       • guided by historical information,
     • Analytical techniques
       • Developing the cost management
     • Meetings
       • Project teams may hold planning
   • Outputs
     • Cost management plan
       • component of the project
   • establishes the policies,
   • procedures,
   • documentation for planning,

2. ESTIMATE COSTS

   • Inputs
     • Human resource management plan
       • provides project staffing attributes,
     • Scope baseline
     • Project schedule
     • Risk register
       • reviewed to consider risk
     • Enterprise environmental factors
       • influence the Estimate Costs
     • Organizational process assets
       • Cost estimating policies,
     • Cost management plan
       • defines how project costs
   • Tools and Techniques
     • Expert judgment
       • used to determine whether
     • Analogous estimating
     • Parametric estimating
     • Bottom-up estimating
     • Three-point estimating
     • Reserve analysis
     • Cost of quality
     • Project management software
     • Vendor bid analysis
     • Group decision-making techniques
   • Outputs
     • Activity cost estimates
     • Basis of estimates
     • Project documents updates
   • The process of developing

3. Determine Budget

   • Inputs
     • Cost management plan
     • Scope baseline
     • Activity cost estimates
     • Basis of estimates
       • Project schedule
     • Project schedule
     • Risk register
     • Agreements
     • Organizational process assets
   • Tools and Techniques
     • Expert judgment
     • Cost aggregation
     • Historical relationships
     • Reserve analysis
     • Funding limit reconciliation
   • Outputs
     • Cost baseline
     • Project documents updates
     • Project funding requirements
   • estimated costs of individual

4. Control Costs

   • Inputs
     • Project management plan
     • Project funding requirements
     • Work performance data
     • Organizational process assets
   • Tools and Techniques
     • Earned value management
     • Forecasting
     • To-complete performance index (TCPI)
     • Performance reviews
     • Project management software
     • Reserve analysis
   • Outputs
     • Work performance information
     • Cost forecasts
     • Change requests
     • Project management plan updates
     • Project documents updates
     • Organizational process assets updates
   • monitoring the status
   • managing changes