Cost Management Plan

Cost Management Plan - PROJECT COST MANAGEMENT PLAN...

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P ROJECT C OST M ANAGEMENT P LAN T EMPLATE This Project Cost Management Template is free for you to copy and use on your project and within your organization. We hope that you find this template useful and welcome your comments. Public distribution of this document is only permitted from the Project Management Docs official website at: www. P roject M anagement D ocs.com C OST M ANAGEMENT P LAN <P ROJECT N AME > C OMPANY N AME S TREET A DDRESS C ITY , S TATE Z IP C ODE D ATE
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Cost Management Plan Template www.ProjectManagementDocs.com T ABLE OF C ONTENTS Introduction ...................................................................................................................................... 2 Cost Management Approach ............................................................................................................ 2 Measuring Project Costs .................................................................................................................. 3 Reporting Format ............................................................................................................................. 4 Cost Variance Response Process ..................................................................................................... 4 Cost Change Control Process ........................................................................................................... 5 Project Budget .................................................................................................................................. 5 1
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Cost Management Plan Template www.ProjectManagementDocs.com I NTRODUCTION The Cost Management Plan clearly defines how the costs on a project will be managed throughout the project’s lifecycle. It sets the format and standards by which the project costs are measured, reported and controlled. The Cost Management Plan: Identifies who is responsible for managing costs Identifies who has the authority to approve changes to the project or its budget How cost performance is quantitatively measured and reported upon Report formats, frequency and to whom they are presented The Project Manager will be responsible for managing and reporting on the project’s cost throughout the duration of the project. During the monthly project status meeting, the Project Manager will meet with management to present and review the project’s cost performance for the preceding month. Performance will be measured using earned value. The Project Manager is responsible for accounting for cost deviations and presenting the Project Sponsor with options for getting the project back on budget. The Project Sponsor has the authority to make changes to the project to bring it back within budget. C
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Cost Management Plan - PROJECT COST MANAGEMENT PLAN...

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