Project Management, 4th Edition

Chapter 6Cost management

Ending the reliance on the budget variance

Key points

• ∎ Understanding the cost management plan
• ∎ Estimating project costs
• ∎ Types of cost classifications
• ∎ Estimating techniques for project costs
• ∎ Estimating accuracy and confidence levels
• ∎ Pulling the project budget together
• ∎ Approaches to budgeting
• ∎ Publishing the project cash flow
• ∎ Comparing budget and actual results
• ∎ Demonstrating budget control with EVA
• ∎ Costs of crashing the project schedule

In practice

Cost managing is often thought of as cost controlling, although some also use the term 'cost reporting'. Although used interchangeably, these words are ...