Transcription of ROJECT COST ANAGEMENT - softwareresearch.net
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ROJECT COST ANAGEMENT - softwareresearch.net
PROJECT cost . MANAGEMENT 7. Project cost Management includes the processes required to ensure that the project is completed within the approved budget. Figure 7 1 provides an overview of the Resource Planning following major processes: Resource Planning determining what resources (people, equipment, mate- rials) and what quantities of each should be used to perform project activities. cost Estimating cost Estimating developing an approximation (estimate) of the costs of the resources needed to complete project activities. cost Budgeting allocating the overall cost estimate to individual work cost Budgeting items. cost Control controlling changes to the project budget.
PROJECT COST MANAGEMENT 7.1.1.5 ©1996 Project Management Institute, 130 South State Road, Upper Darby, PA 19082 USA 75 On some projects, especially smaller ones, resource planning, cost estimating, and cost
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