Aims of this chapter

7. Cost management

Costs matter

Key concepts

The importance of costs and financial knowledge

Scope and cost

Five rules of thumb for estimating costs

A specialist task

Cost management process groups

Cost estimating

Cost budgeting

Cost control

By the end of this chapter, the reader should be able to:

  • report the bare minimum cost data about their project without assistance from a cost specialist;

  • explain the theory of more advanced project cost management, as per PMBOK, to such a degree that the project manager can direct and evaluate the work of a project cost accountant or other cost specialist in a larger project;

  • present the cost ramifications of any significant scope change or proposed scope change.

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Definitive Guide to Project Management. The Fast Track to Getting the Job Done on Time and on Budget
The Definitive Guide to Project Management: The fast track to getting the job done on time and on budget (2nd Edition)
ISBN: 0273710974
EAN: 2147483647
Year: 2007
Pages: 217
Authors: Sebastian Nokes
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