Plan Cost Management

Inputs Tools and Techniques Outputs
  • Project Management Plan
  • Project Charter
  • Enterprise Environmental Factors
  • Organizational Process Assets
  • Expert Judgment
  • Data Analysis
  • Meetings
  • Analytical Techniques
  • Cost Management Plan
  • Cost Baseline
  • Project Funding Requirements
  • Project Document Updates

Details:

Project Management Plan: The comprehensive document that outlines how the project will be executed, monitored, and controlled. It provides guidance on project closure activities.

Project Charter: The project charter provides an overview of the project objectives, scope, and constraints, which influence cost management planning.

Enterprise Environmental Factors: EEFs include organizational culture, infrastructure, marketplace conditions, and industry standards that may affect cost management processes.

Organizational Process Assets: Lessons learned, historical information, and other organizational knowledge that can help in closing out the project effectively.

Expert Judgment: Input from subject matter experts or stakeholders who provide insights into the closure process, lessons learned, and best practices.

Data Analysis: Analyzing project performance data, such as schedule and cost performance, to assess whether project objectives have been met.

Meetings: Closeout meetings with stakeholders to review project performance, lessons learned, and obtain formal acceptance of deliverables.

Analytical Techniques: Analytical techniques such as cost-benefit analysis, earned value management (EVM), and variance analysis are used to evaluate project costs, monitor performance, and identify deviations from the budget.

Cost Management Plan: The Cost Management Plan describes how project costs will be planned, estimated, budgeted, managed, and controlled throughout the project lifecycle. It includes cost management processes, tools, techniques, roles and responsibilities, and reporting requirements.

Cost Baseline: The Cost Baseline represents the approved budget for the project, broken down by time period and cost category. It serves as a benchmark for measuring and controlling project costs.

Project Funding Requirements: Project funding requirements specify the financial resources needed to execute the project. This information is used to secure funding and allocate resources effectively.

Project Document Updates: Updates to project documents may include revisions to the project charter, project management plan, and other project documents to reflect changes and updates related to cost management planning.