A great deal of overlap exists between the "time" estimating topics covered earlier in this chapter (and in the PMBOK) and the "cost" estimating and budgeting topics you need to know for the exam. The key difference is that cost estimating is focused on the cost of the resources needed by the project, whereas activity duration estimating is focused on the time duration of the project's work activities.
Another key point to remember is that you need to have the activity duration estimates to do cost estimating. In total, three main factors affect project cost estimating:
With a cost estimate for each work activity, a time-phased budget or cost baseline can be developed to measure and monitor project cost performance.
One of the key cost estimating factors not explicitly mentioned by the PMBOK but one you need to be aware of for the exam is the "common pitfalls" factor with project cost estimating. Although most of these pitfalls are intuitive, a quick review of them will be helpful to your exam preparation: