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What is Project Cost Management Overview about?

Project Cost Management involves planning, estimating, budgeting, and controlling costs to complete a project within an approved budget. The Cost Management Plan defines accuracy levels, units of measure, organizational procedures, control thresholds, performance measurement rules, and reporting formats. Project managers estimate costs using historical data and expert judgment, breaking costs down into categories. A schedule-cost baseline graph tracks planned costs over time with contingencies for risks.

Author

Tarek El Kady

Language

EN