{"id":62740,"date":"2021-05-20T21:58:59","date_gmt":"2021-05-21T01:58:59","guid":{"rendered":"http:\/\/bangla.salearningschool.com\/recent-posts\/cost-estimation-in-details-part-3-project-cost-management-pmp-project-management\/"},"modified":"2025-04-29T21:41:31","modified_gmt":"2025-04-29T21:41:31","slug":"cost-estimation-in-details-part-3-project-cost-management-pmp-project-management","status":"publish","type":"post","link":"http:\/\/bangla.sitestree.com\/?p=62740","title":{"rendered":"Cost Estimation in Details. Part – 3: Project Cost Management #PMP – Project Management"},"content":{"rendered":"

Cost Estimation in Details. Part – 3: Project Cost Management<\/strong><\/p>\n

(Details will be added at a later time, now in short)<\/p>\n

Cost Estimation in Short<\/strong><\/p>\n

When cost estimation is done?<\/strong>
\nAfter project scope is defined, and work breakdown structure is created.But may be performed again and again over the total life cycle<\/p>\n

Tools<\/strong>
\nAnalogous Estimating
\nBased on the similar actual projects<\/p>\n

Bottom up estimating:<\/strong>
\nEstimate cost for each activity and sum them – time consuming<\/p>\n

Parametric Estimating<\/strong>
\n1 mile road construction needs $400,000$. So 10 miles will require 10*400,000$.<\/p>\n

Reserve Analysis<\/strong>
\nA buffer cost against slippage on the project<\/p>\n

Cost of Quality<\/strong>
\nCosts required in order to get quality<\/p>\n

Output<\/strong>
\nActivity Cost Estimates From: http:\/\/sitestree.com\/?p=11498
Categories:PMP – Project Management
Tags:
Post Data:2017-10-17 16:08:29<\/p>\n

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Cost Estimation in Details. Part – 3: Project Cost Management (Details will be added at a later time, now in short) Cost Estimation in Short When cost estimation is done? After project scope is defined, and work breakdown structure is created.But may be performed again and again over the total life cycle Tools Analogous Estimating … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1917,187],"tags":[],"class_list":["post-62740","post","type-post","status-publish","format-standard","hentry","category-fromsitestree-com","category----project-management-basics","item-wrap"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":62738,"url":"http:\/\/bangla.sitestree.com\/?p=62738","url_meta":{"origin":62740,"position":0},"title":"Cost Estimation in Short. Part – 2: Project Cost Management #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 20, 2021","format":false,"excerpt":"Cost Estimating in Short. Part - 2: Project Cost Management Cost Estimation in Short When cost estimation is done? After project scope is defined, and work breakdown structure is created.But may be performed again and again over the total life cycle Tools Analogous Estimating Based on the similar actual projects\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62541,"url":"http:\/\/bangla.sitestree.com\/?p=62541","url_meta":{"origin":62740,"position":1},"title":"Project Cost Management – Part 1 #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 16, 2021","format":false,"excerpt":"Some Concepts in Project Cost ManagementCosting Involves:1. cost to purchase, develop i.e. to have the system2. Operation cost3. Cost to disposalValue Engineering:Get the most from a project--decrease cost--increase value--increase quality--shorten schedule--keep project scope not reducedCOST ESTIMATINGWhen cost estimation is done?After project scope is defined, and work breakdown structure is created.But\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62742,"url":"http:\/\/bangla.sitestree.com\/?p=62742","url_meta":{"origin":62740,"position":2},"title":"Cost Budgeting in Short. Part – 4: Project Cost Management #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 20, 2021","format":false,"excerpt":"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\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62601,"url":"http:\/\/bangla.sitestree.com\/?p=62601","url_meta":{"origin":62740,"position":3},"title":"Part – 1: Sub Areas of Project Knowledge Areas #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 17, 2021","format":false,"excerpt":"Project Knowledge Area - Sub Areas \u00a0 1. Project scope management Scope Plan Scope definition Work breakdown structure Scope control Scope verification 2. Project time management Activity definition Activity sequencing Activity resource estimating Activity duration Schedule development Schedule control 3. Project cost management Cost estimate Cost budgeting Cost control 4.\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62744,"url":"http:\/\/bangla.sitestree.com\/?p=62744","url_meta":{"origin":62740,"position":4},"title":"Cost Budgeting in Details. Part – 5: Project Cost Management #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 20, 2021","format":false,"excerpt":"Cost Budgeting in Details. Part - 5: Project Cost Management (Details will be added at a later time) 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\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62571,"url":"http:\/\/bangla.sitestree.com\/?p=62571","url_meta":{"origin":62740,"position":5},"title":"Random Short Notes on Project Management #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 17, 2021","format":false,"excerpt":"Collocation is a team development tool where the entire team is brought together in a single location The quality policy is a document where the performing organization lists their attitude towards quality. Quality policy may differ from organization to organization. For example, a pharmaceutical company will have stricter quality policy\u2026","rel":"","context":"In "FromSitesTree.com"","block_context":{"text":"FromSitesTree.com","link":"http:\/\/bangla.sitestree.com\/?cat=1917"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/posts\/62740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62740"}],"version-history":[{"count":1,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/posts\/62740\/revisions"}],"predecessor-version":[{"id":78009,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=\/wp\/v2\/posts\/62740\/revisions\/78009"}],"wp:attachment":[{"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62740"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/bangla.sitestree.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}