A Guide to Project Management

Has changed and c managing the actual changes when

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Unformatted text preview: ayback analysis, and others. Project cost management should consider the information needs of the project stakeholders--different stakeholders may measure project costs in different ways and at different times. For example, the cost of a procurement item may be measured when committed, ordered, delivered, incurred, or recorded for accounting purposes. Project Project Management Management Body of Body of KnowledgeE L KnowledgeE PL MP AM SA S A Guide to the Project Management Body of Knowledge (PMBOK Guide) 2000 Edition 2000 Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA NAVIGATION LINKS ACROYMNS LIST ACRONYMS LIST 83 ACROYMNS LIST Chapter 7--Project Cost Management Figure 71 | 7.1.1.2 PROJECT COST MANAGEMENT 7.1 Resource Planning .1 Inputs .1 Work breakdown structure .2 Historical information .3 Scope statement .4 Resource pool description .5 Organizational policies .6 Activity duration estimates .2 Tools and Techniques .1 Expert judgment .2 Alternatives identification .3 Project management software .3 Outputs .1 Resource requirements 7.2 Cost Estimating .1 Inputs .1 Work breakdown structure .2 Resource requirements .3 Resource rates .4 Activity duration estimates .5 Estimating publications .6 Historical information .7 Chart of accounts .8 Risks .2 Tools and Techniques .1 Analogous estimating .2 Parametric modeling .3 Bottom-up estimating .4 Computerized tools .5 Other cost estimating methods .3 Outputs .1 Cost estimates .2 Supporting detail .3 Cost management plan 7.3 Cost Budgeting .1 Inputs .1 Cost estimates .2 Work breakdown structure .3 Project schedule .4 Risk management plan .2 Tools and Techniques .1 Cost budgeting tools and techniques .3 Outputs .1 Cost baseline ment ment geE L geE PL P 7.4 Cost Control .1 Inputs .1 Cost baseline .2 Performance reports .3 Change requests .4 Cost management plan .2 Tools and Techniques .1 Cost change control system .2 Performance measurement .3 Earned value management (EVM) .4 Additional planning .5 Computerized tools .3 Outputs .1 Revised cost estimates .2 Budget updates .3 Corrective action .4 Estimate at completion .5 Project closeout .6 Lessons learned Figure 71. Project Cost Management Overview 84 NAVIGATION LINKS ACROYMNS LIST ACRONYMS LIST ACROYMNS LIST A Guide to the Project Management Body of Knowledge (PMBOK Guide) 2000 Edition 2000 Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA Chapter 7--Project Cost Management When project costs are used as a component of a reward and recognition system (discussed in Section 9.3.2.3), controllable and uncontrollable costs should be estimated and budgeted separately to ensure that rewards reflect actual performance. On some projects, especially smaller ones, resource planning, cost estimating, and cost budgeting are so tightly linked that they are viewed as a single process (e.g., they may be performed by a single individual over a relatively short period of time). They are presented h...
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