Plan Cost Management is the process of defining how the project costs will be estimated, budgeted, managed, monitored, and controlled. This process is performed once or at predefined points in the project.

INPUTS

1. Project charter
2. Project management plan
– Schedule management plan
– Risk management plan
3. Enterprise environmental factors
4. Organizational process assets

TOOLS & TECHNIQUES

1. Expert judgment
2. Data analysis
3. Meetings

OUTPUTS

1. Cost management plan

Create Project Management Tasks

In the Planning list, representing Planning Process Group, create the Plan cost management task and the Develop cost management plan subtask corresponding to the output of the Plan Cost Management process.

Create Project Management Documents

In the Docs section, create Cost Management Plan output document.

The cost management plan is a component of the project management plan and describes how the project costs will be planned, structured, and controlled. The cost management plan can include:

  • Units of measure
  • Level of precision
  • Level of accuracy
  • Organizational procedures links
  • Control thresholds
  • Rules of performance measurement
  • Reporting formats

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