Plan Cost Management

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Plan Cost Management

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

  • How the estimation of the planned activities will be performed?
  • How the budget will be prepared?
  • What are the different types of costs that should be part of the 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 the entire project or of a part of the project?
  • What are tools, techniques, templates, reference estimation sources required for estimation?
  • What are the metrics to report the cost performance of the project?
  • How to monitor & control the cost (process, system, tools, people, training, etc)?
  • Accounting code allocated by finance department for billing to customer or to make payments to vendor partners.

Plan Cost Management (Process Summary)