PMP, Introduction to Project Cost Management

Process Group	PMBOK	Knowledge Area Process	Why? (inputs)	How? (tools and techniques)	What? (outputs)

Planning	7.1	Resource Planning	Work breakdown structure Historical information Scope statement Resource pool description Organizational policies Activity duration estimates	Expert judgment Alternatives identification Project management software	Resource requirements
Planning	7.2	Cost Estimating	Work breakdown structure Resource requirements Resource rates Activity duration estimates Estimating publications Historical information Chart of accounts Risks	Analogous estimating Parametric modeling Bottom-up estimating Computerized tools Other cost estimating methods	Cost estimates Supporting detail Cost management plan
Planning	7.3	Cost Budgeting	Cost estimates Work breakdown structure Project schedule Risk management plan	Cost budgeting tools and techniques	Cost baseline
Controlling	7.4	Cost Control	Cost baseline Performance reports Change requests Cost management plan	Cost change control system Performance measurement Earned value management (EVM) Additional planning Computerized tools	Revised cost estimates Budget updates Corrective action Estimate at completion Project closeout Lessons learned

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The lesson is designed as a 15-minute introduction to senior management that has not yet fully embraced or understood project management as a discipline.

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