Project Cost Management

Project Cost Management

1. Control Costs

   • Outputs
     • Work performance information
     • Cost forecasts
     • Change requests
     • Project management plan updates
     • Project documents updates
     • Organizational process assets updates
   • Tools & Techniques
     • Earned value management .2 Forecasting
     • Performance reviews
     • To-complete performance index (TCPI)
     • Project management software
     • Reserve analysis
   • Inputs
     • Organizational process assets
     • Project funding requirements
     • Work performance data
     • Project management plan

2. Determine Budget

   • Inputs
     • Scope baseline
     • Activity cost estimates
     • Basis of estimates
     • Project schedule
     • Cost management plan
     • Resource calendars
     • Risk register
     • Agreements
     • Organizational process assets
   • Tools & Techniques
     • Reserve Expert judgment
     • Historical relationships
     • Cost aggregation
     • Funding limit reconciliation
   • Outputs
     • Cost baseline
     • Project funding requirements
     • Project documents updates
   • The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.

3. Estimate Costs

   • Inputs
     • Scope baseline
     • Human resource management plan
     • Cost management plan
     • Project schedule
     • Risk register
     • Enterprise environmental factors
     • Organizational process assets
   • Tools & Techniques
     • Expert judgment
     • 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 an approximation of the monetary resources needed to complete project activities.

4. Plan Cost Management

   • Inputs
     • Project management plan
     • Project charter
     • Enterprise environmental factors
     • Organizational process assets
   • Tools & Techniques
     • Expert judgment
     • Analytical techniques
     • Meetings
   • Outputs
     • Cost management plan
   • The process that establishes the policies, procedures, and documentation for planning, managing, expending, and controlling project costs.

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