Project Cost Management Guide

Project Cost Management Guide

Project Cost Management
Project Cost Management Guide

Learning Objectives:

  1. Understand importance of project cost management 
  2. Understand cost management principles 
  3. Discuss cost estimates & methods of preparation
  4. Understand processes to: 
    • Resource Planning 
    • Cost Estimating 
    • Cost Budgeting 
    • Cost control 
    • Change control
  5. Understand benefits

What is cost management?

Project Cost management is:
  • Ensuring the project meets objectives in terms of financial performance
  • Placing responsibility on those in charge of any aspect of project scope (managers, designers, contractors) 
  • To perform within established budgets 
  • Take appropriate management action
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