The fashion of the world is to avoid cost, and you encounter it.
Major topics in this chapter are cost planning tools:
These tools will focus on developing an estimate of costs and the Cost Baseline (see Figure 7.1). Performing this task requires information about the scope of project activities, required resources, and a schedule of project activities. The Cost Baseline is integrated with the scope and schedule baselines to form a project performance baseline, the core of the project plan and a foundation for all other project planning from organizational to quality to risk to communications planning. In the course of the project implementation, the project performance baseline will become a corner stone of cost control and your ability to deliver the project on budget. This chapter's intent is to help practicing and prospective project managers accomplish the following:
These skills are of vital importance in project planning and building a standardized PM process.