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Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. [1] [2] It encompasses several specific project management activities including estimating , job controls, field data collection , scheduling , accounting and design, and uses technology to measure ...
Project Management Cost Estimating Tools. Analogous Estimating: Using the cost of similar project to determine the cost of the current project; Determining Resource Cost rates: The cost of goods and labor by unit gathered through estimates or estimation.
Project management plans: This section contains all management plans of all project aspects. Change management plan; Communication management plan; Cost management plan; Procurement management plan; Project scope management plan; Schedule management plan; Quality management plan; Risk management plan; HR or staffing management plan
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate.
Manhattan Project costs through 31 December 1945; Site Cost (1945 USD, millions) Cost (2023 USD, millions) % of total Oak Ridge $1,188 $15,949 62.9% Hanford $390 $5,236 20.6% Special operating materials $103 $1,387 5.5% Los Alamos $74 $994 3.9% Research and development $70 $935 3.7% Government overhead $37 $500 2.0% Heavy water plants $27 $359
Project plan – is a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders , and document approved scope, cost, and schedule baselines .
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