7.1 Plan Cost Management

"The process that establishes the policies, procedures and documentation for planning, managing, expending and controlling project costs."

The definition shown above in italics is taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Fifth Edition, Project Management Institute Inc., 2013

Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Fifth Edition, Project Management Institute Inc., 2013 Figure 7-2 Page 195

Planning Cost Management

How are we going to manage costs during the project life?

The Project Charter – Summary Budget – expand

Analytical Techniques

  • Funding sources – external/internal; using debt; using equity
  • Use of Project assets – buying, leasing, renting, borrowing
  • Payback Period / CBA / ROI / IRR / DCF / NPV

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