The Definitive Guide to Project Management: The fast track to getting the job done on time and on budget, Second Edition

Chapter 7. Cost management

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• Costs matter

• Key concepts

• The importance of costs and financial knowledge

• Scope and cost

• Five rules of thumb for estimating costs

• A specialist task

• Cost management process groups

• Cost estimating

• Cost budgeting

• Cost control

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Aims of this chapter

By the end of this chapter, the reader should be able to:

• report the bare minimum cost data about their project without assistance from a cost specialist;

• explain the theory of more advanced project cost management, as per PMBOK, to such a degree that the project manager can direct and evaluate the work of a project cost accountant or other cost specialist in a larger project;

• present the cost ramifications of any significant scope change or proposed scope ...