Mastering Project Time Management, Cost Control, and Quality Management: Proven Methods for Controlling the Three Elements that Define Project Deliverables

8. Plan Cost Management

8.1 Introduction

The project manager develops a project management plan that includes aspects of project scheduling as covered previously in this book, project activity quality control, and the acquisition and allocation of all resources required, but there is also the aspect of costs incurred to conduct the project. When a project manager embarks on the analysis of project cost, it is largely a function of the size, complexity, and duration of a project. That is not to say that small projects cost less and large projects cost more. Rather, it’s an indication of the scope of what is required to complete the project objective. In some cases, a small, short-term project may require an enormous amount of funding to accomplish—an ...