WHAT Control Costs Is. Control Costs implies monitoring the project budget and managing variations to the cost baseline included in the project plan. WHY Control Costs Is Important. The Control Cost process gives a project manager the tools and techniques to measure the performance of the project at a given […]
WHAT Determine Budget Is. Determine Budget implies aggregating the individual activity cost estimates into a total project cost and applying the project schedule to establish the costs timing. The resulting cost baseline is used to measure the performance of the project throughout the remaining process groups. WHY Determine Budget Is […]
WHAT Estimate Costs Is. Estimate Costs implies developing an approximation of costs associated with each of the resources – human and material – required for all schedule activities of the project. WHY Estimate Costs Is Important. A project manager estimates how much everything will cost on the project using the […]
WHAT Plan Cost Management Is. Plan Cost Management implies creating the cost management plan. WHY Plan Cost Management Is Important. The Plan Cost Management process is where a project manager figures out all the work necessary to make sure the project stays within the estimated budget. WHEN Plan Cost Management […]