Project cost management ,cost estimation cost control and evm for large epc projects and is essential for knowing the cost parameters for all construction engineers.
Project cost management ,cost estimation cost control and evm for large epc projects and is essential for knowing the cost parameters for all construction engineers.
A brief introduction on various concepts of Project Cost, covering various types of Project Costs, Processes to be followed for developing project budget, project budget components, contingency and management reserves, earned value management
Presentation on topics:-
1. Measurement of Cost Behaviour
2. Cost Drivers and Cost Behaviour
3. Management Influence on Cost Behaviour
4. Cost Functions
5. Methods of Measuring Cost Functions
6. Cost Management System
ABC System (Concept and Principles)
7. Various Basis of Overhead Distribution
8. Different Cost for Different Decisions
Online PMP Training Material for PMP Exam - Cost Management Knowledge AreaGlobalSkillup
Cost Management Knowledge Area in Project management defined by PMBOK 5th Edition by Project Management Institute (PMI). Provided by GlobalSkillup.com towards PMP Certification Exam.
The main aim of this research study was to investigate the causes of illegal migrationn and its impacts in the
returnees who are living in Woliso town. To achieve these objectives, qualitative methods and Semi-structured in
depth interviews were held with a total of 25 women participants. Descriptive phenomenology was the approach
employed for conducting this study. The purposive sampling technique was used to select 25 returnees of illegal
emigrant f The Primary information was collected mainly from the migrants, Labour
and Social affairs office. Phenomenological method of analysis for study was used to analyze the data obtained
from the participants. The findings of the study revealed that there are a variety of contributory factors that led to
the emergence of migrant women from Ethiopia to Middle East countries. The result showed that the major factors
contributing to the migration and vulnerability of Ethiopian women to illegal emigration are lack of employment,
poverty, lack of prospects, the search for better opportunities and income to support themselves and their families
and economic insecurity as the probable cause of this migration.
This is PMBOK Guide Monitor and Control Process Group - Part Two. It includes six Knowledge Area - Project Time Management, Project Cost Management, Project Communications Management, Project Procurement Management, Project Stakeholder Management, and Project Risk Management - with six processes - Control Schedule, Control Costs, Control Communications, Control Control Procurements, Control Stakeholder Engagement and Control Risks -.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
A brief introduction on various concepts of Project Cost, covering various types of Project Costs, Processes to be followed for developing project budget, project budget components, contingency and management reserves, earned value management
Presentation on topics:-
1. Measurement of Cost Behaviour
2. Cost Drivers and Cost Behaviour
3. Management Influence on Cost Behaviour
4. Cost Functions
5. Methods of Measuring Cost Functions
6. Cost Management System
ABC System (Concept and Principles)
7. Various Basis of Overhead Distribution
8. Different Cost for Different Decisions
Online PMP Training Material for PMP Exam - Cost Management Knowledge AreaGlobalSkillup
Cost Management Knowledge Area in Project management defined by PMBOK 5th Edition by Project Management Institute (PMI). Provided by GlobalSkillup.com towards PMP Certification Exam.
The main aim of this research study was to investigate the causes of illegal migrationn and its impacts in the
returnees who are living in Woliso town. To achieve these objectives, qualitative methods and Semi-structured in
depth interviews were held with a total of 25 women participants. Descriptive phenomenology was the approach
employed for conducting this study. The purposive sampling technique was used to select 25 returnees of illegal
emigrant f The Primary information was collected mainly from the migrants, Labour
and Social affairs office. Phenomenological method of analysis for study was used to analyze the data obtained
from the participants. The findings of the study revealed that there are a variety of contributory factors that led to
the emergence of migrant women from Ethiopia to Middle East countries. The result showed that the major factors
contributing to the migration and vulnerability of Ethiopian women to illegal emigration are lack of employment,
poverty, lack of prospects, the search for better opportunities and income to support themselves and their families
and economic insecurity as the probable cause of this migration.
This is PMBOK Guide Monitor and Control Process Group - Part Two. It includes six Knowledge Area - Project Time Management, Project Cost Management, Project Communications Management, Project Procurement Management, Project Stakeholder Management, and Project Risk Management - with six processes - Control Schedule, Control Costs, Control Communications, Control Control Procurements, Control Stakeholder Engagement and Control Risks -.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
4. PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
Introduction
5. ₹32 million $5 billion $ 950 billion
$3 million
Tear Drop on the Face of Eternity -
The Taj Mahal.---Rabindranath Tagore
کر لے سہارا کا دولت نے شہنشاہ اک
مذاق ہے اڑایا کا محبت کی غریبوں ہم
6. PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
Project Cost Management over view (1/2)
o Project Cost Management is primarily concerned with the cost of the
resources needed to complete project activities.
o Project Cost Management should consider the effect of project
decisions on the subsequent recurring cost of using, maintaining, and
supporting the product, service, or result of the project.
Fixed Cost
Variable cost
Operations & Maintenance cost
Financial management techniques such as return on investment,
discounted cash flow, and investment payback analysis
Discounting
IRRs
NPV
RoI
a dollar today is worth
more than a dollar
tomorrow
7. • Tailoring Considerations: Because each project is unique, the project manager
may need to tailor the way Project Cost Management processes are applied.
Considerations for tailoring include but are not limited to:
• Knowledge management: Does the organization have a formal knowledge
management and financial database repository that a project manager is required
to use and that is readily accessible?
• Estimating and budgeting: Does the organization have existing formal or
informal cost estimating and budgeting-related policies, procedures, and
guidelines?
• Earned value management: Does the organization use earned value
management in managing projects?
• Use of agile approach: Does the organization use agile methodologies in
managing projects? How does this impact cost estimating?
• Governance: Does the organization have formal or informal audit and
governance policies, procedures, and guidelines?
Project Cost Management over view (2/2)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
8. Plan Cost Management (1/8)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
9. Plan Cost Management (2/8)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
10. o Schedule management plan
o Risk management plan.
o ENTERPRISE ENVIRONMENTAL FACTORS
The enterprise environmental factors that can influence the Plan Cost Management process
include but are not limited to:
Organizational culture and structure can influence cost management.
Market conditions describe what products, services, and results are available in the
regional and global markets.
Currency exchange rates for project costs are sourced from more than one country.
Published commercial information such as resource cost rate information is often
available from commercial databases that track skills and human resource costs, and
provide standard costs for material and equipment. Published seller price lists are another
source of information.
Project management information system provides alternative possibilities for managing
cost.
Productivity differences in different parts of the world can have a large influence on the
cost of projects
Plan Cost Management (3/8)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
11. Plan Cost Management (4/8)
o Organizational Process Assets
The organizational process assets that can influence the Plan
Cost Management process include but are not limited to:
Financial controls procedures (e.g., time reporting, required expenditure and
disbursement reviews, accounting codes, and standard contract provisions);
Historical information and lessons learned repository;
Financial databases;
Existing formal and informal cost estimating and budgeting-related policies,
procedures, and guidelines
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
12. Tools And Techniques:
Expert Judgment should be considered from individuals or groups with
specialized knowledge or training in the following topics:
Previous similar projects;
Information in the industry, discipline, and application area;
Cost estimating and budgeting; and
Earned value management
Plan Cost Management (5/8)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
13. Tools And Techniques:
DATAANALYSIS
A data analysis technique that can be used for this process includes but is not limited to
alternatives analysis. Alternatives analysis can include reviewing strategic funding
options such as:
self-funding, funding with equity, or funding with debt. It can also include
consideration of ways to acquire project resources such as making, purchasing,
renting, or leasing.
MEETINGS
Project teams may hold planning meetings to develop the cost management plan.
Attendees may include the project manager, the project sponsor, selected project
team members, selected stakeholders, anyone with responsibility for project costs,
and others as needed
Plan Cost Management (6/8)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
14. • PLAN COST MANAGEMENT: OUTPUTS
The cost management plan is a component of the project management plan
and describes how the project costs will be planned, structured, and
controlled. For example, the cost management plan can establish the
following:
Units of measure.
Each unit used in measurements (such as staff hours, staff days, or weeks
for time measures; meters, liters, tons, kilometers, or cubic yards for
quantity measures; or lump sum in currency form) is defined for each of the
resources.
Level of precision.
This is the degree to which cost estimates will be rounded up or down (e.g.,
US$995.59 to US$1,000), based on the scope of the activities and
magnitude of the project.
Level of accuracy.
The acceptable range (e.g., ±10%) used in determining realistic cost
estimates is specified, and may include an amount for contingencies
Plan Cost Management (7/8)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
15. • Organizational procedures links:
• WBS
• Control thresholds. Variance thresholds for monitoring cost performance may be specified to
indicate an agreed-upon amount of variation to be allowed before some action needs to be taken.
Thresholds are typically expressed as percentage deviations from the baseline plan.
• Rules of performance measurement. Earned value management (EVM) rules of performance
measurement are set. For example, the cost management plan may: Reporting formats. The formats
and frequency for the various cost reports are defined.
• Additional details.
Description of strategic funding choices,
Procedure to account for fluctuations in currency exchange rates, and un Procedure for project cost
recording
Plan Cost Management (8/8)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
16. Estimate Costs (1/5)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
17. Estimate Cost (2/5)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
18. • ANALOGOUS ESTIMATING /TOP DOWN ESTIMATING
Analogous cost estimating uses values, or attributes, of a previous project that are similar to the current project. Values
and attributes of the projects may include but are not limited to: comparing one project to another similar project
scope, cost, budget, duration, and measures of scale (e.g., size, weight). Comparison of these project values, or
attributes, becomes the basis for estimating the same parameter or measurement for the current project.
• PARAMETRIC ESTIMATING.
Parametric estimating uses a statistical relationship between relevant historical data and other variables (e.g., square
footage in construction) to calculate a cost estimate for project work. This technique can produce higher levels of
accuracy depending on the sophistication and underlying data built into the model..
• BOTTOM-UP ESTIMATING
Bottom-up estimating is a method of estimating a component of work. The cost of individual work packages or
activities is estimated to the greatest level of specified detail. The detailed cost is then summarized or “rolled up” to
higher levels for subsequent reporting and tracking purposes. WBS is the best example
• THREE-POINT ESTIMATING
The accuracy of single-point cost estimates may be improved by considering estimation uncertainty and risk and using
three estimates to define an approximate range for an activity’s cost:
Most likely (cM). The cost of the activity, based on realistic effort assessment for the required work and any
predicted expenses.
Optimistic (cO). The cost based on analysis of the best-case scenario for the activity.
Pessimistic (cP). The cost based on analysis of the worst-case scenario for the activity
Estimate Cost (3/5)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
19. • DATA ANALYSIS Data analysis techniques that can be used in the Estimate Costs process
include but are not limited to:
• Alternatives analysis. Alternatives analysis is a technique used to evaluate identified
options in order to select which options or approaches to use to execute and perform the
work of the project.
• Reserve analysis. Cost estimates may include contingency reserves (sometimes called
contingency allowances) to account for cost uncertainty. Contingency reserves are the
budget within the cost baseline that is allocated for identified risks. project.
• Cost of quality. Assumptions about costs of quality may be used to prepare the estimates.
This includes evaluating the cost impact of additional investment in conformance versus the
cost of nonconformance. It can also include looking at short-term cost reductions versus the
implication of more frequent problems later on in the product life cycle
Estimate Cost (4/5)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
20. • COST ESTIMATES
Cost estimates include quantitative assessments of the probable costs required to
complete project work, as well as contingency amounts to account for identified risks,
and management reserve to cover unplanned work. Cost estimates can be presented in
summary form or in detail.
• Costs are estimated for all resources that are applied to the cost estimate.
• direct labor, materials, equipment, services, facilities, information technology, and
special categories such as ;
• cost of financing (including interest charges),
an inflation allowance, exchange rates, or a cost contingency reserve. Indirect costs, if
they are included in the project estimate, can be included at the activity level or at higher
levels
Estimate Cost (5/5)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
23. • Outputs:
• COST BASELINE The cost baseline is the approved version of the time-
phased project budget, excluding any management reserves, which can only
be changed through formal change control procedures. It is used as a basis for
comparison to actual results. The cost baseline is developed as a summary of
the approved budgets for the different schedule activities.
• the various components of the project budget and cost baseline. Cost estimates
for the various project activities, along with any contingency reserves for
these activities, are aggregated into their associated work package costs.
• The summation of the control accounts make up the cost baseline. Since the
cost estimates that make up the cost baseline are directly tied to the schedule
activities, this enables a time-phased view of the cost baseline,
• For projects that use earned value management, the cost baseline is referred to
as the performance measurement baseline.
• Management reserves are added to the cost baseline to produce the project
budget. As changes warranting the use of management reserves arise, the
change control process is used to obtain approval to move the applicable
management reserve funds into the cost baseline
Determine Budget (3/5)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
25. • PROJECT FUNDING REQUIREMENTS
• Total funding requirements and periodic funding requirements (e.g., quarterly,
annually) are derived from the cost baseline. The cost baseline will include projected
expenditures plus anticipated liabilities.
• Funding requirements may include the source(s) of the funding.
• PROJECT DOCUMENTS UPDATES
Project documents that may be updated as a result of carrying out this process
include but are not limited to:
Cost estimates are updated to record any additional information.
Project schedule. Estimated costs for each activity may be recorded as part of the
project schedule.
Risk register. New risks identified during this process are recorded in the risk
register and managed using the risk management processes
Determine Budget (5/5)
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
28. Tools and Techniques
DATA ANALYSIS Data analysis techniques that can be used to control costs include
but are not limited to:
Earned value analysis (EVA). Earned value analysis compares the performance
measurement baseline to the actual schedule and cost performance.
Variance analysis
Schedule variance
Cost variance
Trend analysis
Reserve /contingency analysis
To complete performance analysis
Control Cost
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
29. Control Cost
PCM overview Plan Cost Management Estimate Costs Determine Budget Control Cost
Cost control outputs
Work Performance Information
Cost forecasts
Change requests
Project management plan updates
Project documents updates