Task 3: Develop a budget plan based on the project scope using estimating techniques, in order to manage project cost.
This task focuses on estimating individual work packages and activity costs, and then aggregating them over time to produce the cost performance baseline, or project budget. There are many reasons for producing a project budget, including being able to forecast a predicted total spend and also a forecast spend over time. Additionally, the project budget serves as a useful communications tool to manage stakeholder expectations about how much the project will cost. It is the responsibility of the project manager to develop the budget, track any variances, and manage any changes.
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