PROJECT COST MANAGEMENT

PROJECT COST MANAGEMENT

1. 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

2. Estimate Costs

   • Inputs
     • Cost management plan
     • Human resource management plan
     • Scope baseline
     • 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

3. Determine Budget

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

4. Control Costs

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

5. Definition

   • Includes the processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs.

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