CHAPTER 6
Cost Management
Cost management is the process used to minimize the cost of the project while maintaining acceptable levels of quality as well as the scope of the deliverables for the duration of the project. Project information that forms the basis of a progress monitoring and cost management system includes a detailed description of client objectives, project requirements, quality expectations, resource constraints, funding structure, acceptance test details, administrative milestones, and the anticipated delivery date.
The cost management process is most effective when it is formalized and integrated with the enterprise’s project ...
