Purpose:

Provides guidance and direction on how the project costs will be managed throughout the project.

Objective:

Establishes the policies, procedures, and documentation for planning, managing, expending, and controlling project costs.

Description:

The cost management processes and their associated tools and techniques are documented in the cost management plan. The cost management plan is a component of the project management plan.

RASIC:

Inputs:

• Project Management Plan
• Project Charter

Outputs:

• Cost Management Plan

Controls:

• Expert Judgement
• Analytical Techniques
• Meetings

Task Instructions:

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