Transcription of Project Cost management for Project Managers based on …
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Project Cost management for Project Managers based on …
PM World Journal Project Cost management based on PMBOK Vol. IV, Issue VI June 2015 T. D. Jainendrakumar Commentary 2015 T. D. Jainendrakumar Page 1 of 13 Project Cost management for Project Managers based on PMBOK By Dr. T D Jainendrakumar The Cost management includes the processes involved in estimating, budgeting, and controlling costs so that the Project can be completed within the approved budget. Project Managers must make sure that their projects are well defined, have accurate time and cost estimates, and have a realistic budget that they were involved in approving. Costs are usually measured in monetary units like dollars. Before going to this knowledge area we need to familiar with some of the definitions or terms used in Cost management . Definitions Profit = Revenue Costs Profit Margin = Profit / Revenue Cash flow refers to the movement of cash into or out of the Project .
Project Cost management for Project Managers based on PMBOK By Dr. T D Jainendrakumar The Cost Management includes the processes involved in estimating, budgeting, and controlling costs so that the project can be completed within the approved budget. Project managers must make sure that their projects are well defined, have accurate time and ...
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