PMP - Cost Mgmt

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Author:
cbass
ID:
51101
Filename:
PMP - Cost Mgmt
Updated:
2010-11-22 10:26:06
Tags:
PMP
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Description:
PMP Cost Management ITO
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  1. Cost Management
    Processes for estimating, budgeting & controlling costs so the project can be completed within budget
  2. Estimate Costs
    Estimating the costs of resources needed to complete the project activities

    • Inputs:
    • 1. Scope Baseline
    • 2. Project Schedule
    • 3. Human Resource Plan
    • 4. Risk Register
    • 5. EEF
    • 6. OPA

    • Tools:
    • 1. Expert Judgment
    • 2. Analogous Estimating
    • 3. Parametric Estimating
    • 4. Bottom-up Estimating
    • 5. Three-Point Estimates
    • 6. Reserve Analysis
    • 7. Cost of Quality
    • 8. Project Management Estimating Software
    • 9. Vendor Bid Analysis

    • Outputs:
    • 1. Activity Cost Estimates
    • 2. Basis of Estimates
    • 3. Project Document Updates
  3. Determine Budget
    Aggregating estimated costs to establish a cost baseline

    • 1. Activity Cost Estimates
    • 2. Basis of Estimates
    • 3. Scope Baseline
    • 4. Project Schedule
    • 5. Resource Calendars
    • 6. Contracts
    • 7. OPA

    • Tools:
    • 1. Cost Aggregation
    • 2. Reserve Analysis
    • 3. Expert Judgment
    • 4. Historical Relationships
    • 5. Funding Limit Reconciliation

    • Outputs:
    • 1. Cost Performance Baseline
    • 2. Project Funding Requirements
    • 3. Project Document Updates
  4. Control Costs
    Monitoring Status and managing changes to the cost baseline

    • Inputs:
    • 1. Project Management Plan
    • 2. Project Funding Requirements
    • 3. Work Performance Information
    • 4. OPA

    • Tools:
    • 1. Earned Value Management
    • 2. Forecasting
    • 3. To-complete performance index
    • 4. Performance Reviews
    • 5. Variance Analysis
    • 6. Project Management Software

    • Outputs:
    • 1. Work Performance Measurements
    • 2. Budget Forecasts
    • 3. OPA updates
    • 4. Change Requests
    • 5. Project management plan updates
    • 6. Project document updates

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