Project Management Step by Step: How to Plan and Manage a Highly Successful Project

Dealing with costs

The costs of a project fall into two main categories:

• Costs associated with doing the work on the project. This is usually mostly people’s time working on the project. It may also include things you have to buy or rent to do the project. For example, you may rent a room for a couple of months for the project team to work in, and may want to buy a copy of some project management software to help you run the project.

• Costs associated with things you must buy to create the deliverables. For instance, if the project is to do with building some houses, this would include cement and bricks; if your project was to develop a new computer service, it would include buying PCs and software.

I am not going to deal with the accounting treatment ...