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PMP® Training Kit by Sean Whitaker

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Chapter 5. Cost management

This chapter focuses on project cost management. Project cost management, like the other knowledge areas, begins with a process of planning that produces a cost management plan. Then there is an iterative process that produces and updates the cost estimates and cost baseline. After these have been developed, a monitoring and controlling process is used to measure actual versus planned cost performance and to manage any change requests.

You may need to pay particular attention in this chapter to those activities of calculating earned value management; there is quite a bit of technical information that you will need to learn.

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