Project Cost Management: A Comprehensive Guide
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Project Cost Management
Project cost management encompasses the processes of planning, estimating, budgeting, financing, funding, managing, and controlling costs to ensure project completion within the approved budget. The ability to influence cost is greatest during the early project stages, making early scope definition critical. Project cost management focuses on the cost of resources required to complete project activities, considering the impact of decisions on the recurring cost of using and maintaining the project's outcome.
Plan Cost Management
This process defines how project costs will be estimated, budgeted, managed, monitored, and controlled. Cost management planning occurs early in project planning, establishing the framework for... Continue reading "Project Cost Management: A Comprehensive Guide" »