COST PROCESS
20
Cost Planning (PMBOK® Guide 7.1)
| What: | Documenting the cost management processes for a project. | |
| When: | Project initiation and planning. | |
| Results: | A clearly defined process specifying how project finances will be determined and managed that provides control of the budget throughout a project. |
Prepare for Cost Planning
Cost planning is part of overall project plan development. It begins with a review of project information from project initiation, including:
- Project infrastructure decisions
- Sponsorship and stakeholder identification
- Project objectives and priorities
- Project charter components, especially those related to constraints, staffing, budget and funding assumptions, and expense expectations
Identify any ...
Get The Project Management Tool Kit, 3rd Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
