{"id":62742,"date":"2021-05-20T21:58:59","date_gmt":"2021-05-21T01:58:59","guid":{"rendered":"http:\/\/bangla.salearningschool.com\/recent-posts\/cost-budgeting-in-short-part-4-project-cost-management-pmp-project-management\/"},"modified":"2025-04-29T21:41:31","modified_gmt":"2025-04-29T21:41:31","slug":"cost-budgeting-in-short-part-4-project-cost-management-pmp-project-management","status":"publish","type":"post","link":"http:\/\/bangla.sitestree.com\/?p=62742","title":{"rendered":"Cost Budgeting in Short. Part – 4: Project Cost Management #PMP – Project Management"},"content":{"rendered":"

Cost Budgeting in Short. Part – 4: Project Cost Management<\/strong><\/p>\n

Maps costs and dates. How much will be spent on what and when. Also termed Cost Baseline<\/p>\n

When cost budgeting is done?<\/strong>
\nAfter activities are defined and scheduled. Activity durations and resource requirements are also estimated.<\/p>\n

Tools<\/strong>
\nCost Aggregation
\nActivity level costs should be aggregated to the work level where they will be measured, managed, and controlled.<\/p>\n

Reserve Analysis<\/strong>
\nFinancial reserve to protect projects against cost overrun<\/p>\n

Parametric Estimating<\/strong>
\nUse simple straight forward formulas<\/p>\n

Funding Limit Reconciliation<\/strong>
\nComply with the project funding. many times funds are allocated even before the scope is defined.<\/p>\n

Output<\/strong>
\nCost Baseline
\nProject Funding requirements<\/p>\n

  From: http:\/\/sitestree.com\/?p=11500
Categories:PMP – Project Management
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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 … <\/p>\n

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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":62541,"url":"http:\/\/bangla.sitestree.com\/?p=62541","url_meta":{"origin":62742,"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":62601,"url":"http:\/\/bangla.sitestree.com\/?p=62601","url_meta":{"origin":62742,"position":2},"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":62738,"url":"http:\/\/bangla.sitestree.com\/?p=62738","url_meta":{"origin":62742,"position":3},"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":62740,"url":"http:\/\/bangla.sitestree.com\/?p=62740","url_meta":{"origin":62742,"position":4},"title":"Cost Estimation in Details. Part – 3: Project Cost Management #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 20, 2021","format":false,"excerpt":"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\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":62746,"url":"http:\/\/bangla.sitestree.com\/?p=62746","url_meta":{"origin":62742,"position":5},"title":"Cost Control in Short : Part – 6: Project Cost Management #PMP – Project Management","author":"Author-Check- Article-or-Video","date":"May 20, 2021","format":false,"excerpt":"Cost Control in Short : Part - 6: Project Cost Management Monitoring, controlling, adjusting costs When it is performed? Over the whole life cycle. 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