Cost Budgeting in Short. Part – 4: Project Cost Management
Maps costs and dates. How much will be spent on what and when. Also termed Cost Baseline
When cost budgeting is done?
After activities are defined and scheduled. Activity durations and resource requirements are also estimated.
Tools
Cost Aggregation
Activity level costs should be aggregated to the work level where they will be measured, managed, and controlled.
Reserve Analysis
Financial reserve to protect projects against cost overrun
Parametric Estimating
Use simple straight forward formulas
Funding Limit Reconciliation
Comply with the project funding. many times funds are allocated even before the scope is defined.
Output
Cost Baseline
Project Funding requirements
From: http://sitestree.com/?p=11500
Categories:PMP – Project Management
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Post Data:2017-10-17 16:11:51
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