December 2013
Beginner to intermediate
288 pages
6h 18m
English
Content preview from The Project Management Tool Kit, 3rd Edition
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COST PROCESS
19
Cost Estimating (PMBOK® Guide 7.2)
| What: | Forecasting the costs of project activities. | |
| When: | Project planning and execution. | |
| Results: | Cost estimates for all resources needed for project activities. |
Estimate the Cost of Project Labor
Cost estimates are central to project plan development and require an effort estimate consistent with your cost planning for each listed task in your project activity definition. Verify your effort and required resource analysis from activity resource estimating.
Calculate a cost for the effort using either actual expected labor expenses for staffing, or with whatever standard labor rates your organization has established for the relevant categories of contributors working on your ...
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