These are flashcards an notes made by students on topics like 'management', 'cost' and 'plan', originating from:

Study material generic cover image
- Joseph Phillips
ISBN-10 0071775919 ISBN-13 9780071775915
1205 Flashcards & Notes
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Study Cards on management, cost, plan

Do you need to create a cost management plan from scratch?
No, as part of utilizing organizational process assets, you might be able to re-use an already existing cost management plan in the organization.
What is a common characteristic for most planning processes?
That it is iterative, you will probably revisit the plans multiple times.
What are inputs to be used for cost management planning?
  • Project charter - provides the high level summary budget
  • Project management plan - scope baseline, schedule baseline
  • Enterprise Environmental Factors - rules, structures on how to manage costs
  • Organizational Process Assets - serve as input to cost management planning
What is the scope of the cost management plan?
It defines:
  • how the project costs will be estimated
  • how the budget will be created, and
  • how you'll control the costs within the project
  • any analytical tools to be used for performance of project costs

(how costs will be planned, managed and controlled)
What are the contents of the cost management plan?
  • Units of measure
  • Level of precision
  • Level of accuracy
  • Control thresholds
  • Rules of performance measurement - e.g. earned value management
  • Organizational Procedure Links - links between costs and WBS deliverables
  • Reporting Formats -
  • Process Descriptions
  • Additional Planning Details
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