Project Cost Management - ENGINEERING MANAGEMENT

Project Cost Management Learning Objectives: Manage cost in projects  Plan and allocate resources in a project  Estimate costs...

Project Cost Management

Project Cost Management pdf
Project Cost Management
Learning Objectives:
  • Manage cost in projects 
  • Plan and allocate resources in a project 
  • Estimate costs and how to budget 
  • Measure resources, schedule, and cost 
  • Identify and measure cost variances and earned value management Monitor and control projects 
  • Learn how to control project performance factors
  • Understand the importance of project cost management 
  • Explain basic project cost management principles, concepts, and terms 
  • Describe the process of planning cost management 
  • Discuss different types of cost estimates and methods for preparing them 
  • Understand the benefits of earned value management and project portfolio management to assist in cost control 
  • Describe how project management software can assist in project cost management
Importance of Cost Management:
The importance of the cost information in making decisions. The cost information system plays an important role in every organization within the decision-making process. An important task of management is to ensure control over operations, processes, activity sectors, and not ultimately on costs.
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