COST PROCESS
17
Cost Budgeting (PMBOK® Guide 7.3)
| What: | Determining the overall expected project cost, based on bottom-up planning. | |
| When: | Project planning and execution. | |
| Results: | A realistic budget for the project derived from detailed planning data. |
Identify Direct Project Costs
Develop a project budget using your cost planning. Project budgets are based on project activity resource estimating and cost estimating. Accumulate all activity-related cost estimates for labor (based on effort estimates and appropriate labor rates), procurement contracting, equipment, materials, software, travel, support, training, communication management, services, and other direct project expenses.
Determine the Project Budget and Project Cost ...
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