The document discusses key aspects of cost management for projects including: 1) Determining the budget by estimating costs of individual activities and work packages to establish an authorized cost baseline. 2) Monitoring the status of the project to update the project budget and manage changes to the cost baseline. 3) Using techniques like top-down estimating to develop an approximation of monetary resources needed to complete project activities.

1. Cost Management
Gökrem Tekir
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variables to calculate an estimate for activity
Across parameters, such as cost, budget, and duration.
2. Determine Budget process input 6. Is an authorized time-phased budget at
completion (BAC) used to measure, monitor,
4. The activity cost based on analysis of the and control overall cost performance on the
worst-case scenario for the activity. project.
5. It is commonly used method of performance 8. The difference between Earned and Planned
measurement. Value
7. The process that is aggregating the estimated 10. If this value is less than 1.0 indicates less work
costs of individual activities or work packages to was completed than was planned.
establish an authorized cost baseline.
9. Is the process of monitoring the status of the
project to update the project budget and
managing changes to the cost baseline.
11. An input of Estimate Costs process
12. Top-down Estimating
13. is the calculated projection of cost performance
that must be achieved on the remaining work to
meet a specifi ed management goal, such as
the BAC or the EAC.
14. Developing an approximation of the monetary
resources needed to complete project activities.
Down
1. The value is the authorized budget assigned to
the work to be accomplished for an activity or
work breakdown structure component.
3. EAC = BAC / Cum. ____
4. This estimating technique uses a statistical
relationship between historical data and other