Project Cost Management
The Project Cost Management knowledge area includes the processes responsible for determining and controlling project costs.
Processes: • Plan Cost Management • Estimate Costs • Determine Budget • Control Costs
Situation
After the schedule is ready we can safely define an indicative Project Budget. It will be updated later on, as more activities specific to project development will be identified and budgeted. Details So, at this moment, we again use all the previous work and estimate the financial resources needed for effective project implementation.
Cost Management is facilitated by Schedule Management processes and the documents already realized at this step. Activities and resources needed are identified, costs for them will need to be estimated. Requirements Use your previous work and again the template of the Project Cost Management Plan. This Cost Management Plan Template will help you to develop a budget for your project.
Outputs
1. DevelopyourCostManagementPlan Estimated work time You will organize yourself of course but from my experience you should spend at least 60 minutes on this. Make it fun by engaging friends in the process and make it useful by focusing on something that really interests you.
Learning objectives • reinforce your project cost management • acquire the skill of estimating costs • acquire the skill of developing a Project Budget.
Full course: https://www.udemy.com/risk-management-for-project-professionals/?couponCode=WELL12
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