3.11. Determine Budget

The Determine Budget process is primarily concerned with determining the cost performance baseline. This process aggregates the cost estimates of activities and establishes a cost performance baseline for the project that is used to measure performance of the project throughout the remaining process groups. By the end of this process, the project schedule and the project budget will both have been created.

Exam Essentials

Be able to identify and describe the primary output of the Estimate Costs process. The primary output of Estimate Costs is activity cost estimates. These estimates are quantitative amounts—usually stated in monetary units—that reflect the cost of the resources needed to complete the project activities. ...

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