Introducing Project Cost Management - Planning the Project Costs
5 important questions on Introducing Project Cost Management - Planning the Project Costs
Do you need to create a cost management plan from scratch?
What is a common characteristic for most planning processes?
What are inputs to be used for cost management planning?
- Project charter - provides the high level summary budget
- Project management plan - scope baseline, schedule baseline
- Enterprise Environmental Factors - rules, structures on how to manage costs
- Organizational Process Assets - serve as input to cost management planning
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What is the scope of the cost management plan?
- how the project costs will be estimated
- how the budget will be created, and
- how you'll control the costs within the project
- any analytical tools to be used for performance of project costs
(how costs will be planned, managed and controlled)
What are the contents of the cost management plan?
- Units of measure
- Level of precision
- Level of accuracy
- Control thresholds
- Rules of performance measurement - e.g. earned value management
- Organizational Procedure Links - links between costs and WBS deliverables
- Reporting Formats -
- Process Descriptions
- Additional Planning Details
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