COST PROCESS15Cost Budgeting (PMBOK® 7.2, Budget Costs)
What: |
Determining the overall expected project cost, based on bottom-up planning. |
When: |
Project planning, execution, and control. |
Results: |
A realistic budget for the project derived from detailed planning data. |
Identify Direct Project Costs
Project activity resource estimating and cost estimating, which are central to project plan development, form the basis for cost budgeting. Accumulate all activity-related expenses for labor (based on effort estimates and appropriate labor rates), outsourcing, equipment, materials, software, travel, support, training, communication, services, and other nonlabor.
Determine the Project Budget and Project Cost Profile
Cost budgeting begins by accumulating ...
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