Project Cost Management

Project Cost Management ensures that project gets completed within the approved budget.

There are total of 4 processes.

1. Plan Cost Management—This is the Plan how other processes in this knowledge area to be performed .

2. Estimate Costs— Here cost for the activities are estimated.

3. Determine Budget—This is the process of aggregating the estimated costs of individual activities, and cost base lines are created.

4. Control Costs—The process of monitoring the status of the project cost as per budgeting plan and managing changes to the cost baseline.

Knowledge Areas