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Plan Cost Management

Plan Cost Management

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Plan cost management is the first process of cost management knowledge area. This processes documents the answer of following questions.

  • How the estimation of the planned activities will be performed?
  • How budget will be prepared?
  • What are the different types of cost should be part of cost baseline?
  • What will be the cost tolerance?
  • How to determine the budget to manage risks.
  • The scope of cost estimation, should we estimate the cost of entire project or of a part of the project?
  • What are tools, techniques, templates, reference estimation source required to estimation.
  • What are the metrics to report the cost performance of the project
  • How to monitor & control the cost (process, system, tools, people, trainings etc)
  • Accounting code allocated by finance department for billing to customer or to make payments to vendor partners

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Plan Cost Management: Process Table

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