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