Cost management about

How to do a cost management plan?

How to develop a cost management plan

1. Plan resources.
Before starting a project, determine the resources it requires, which might include certain people, skills, materials, tools, equipment and funds.
2. Estimate costs
3. Create a budget
4. Perform cost control
5. Measure performance

What is most important cost management?

Cost management is a crucial aspect of project management that helps control a project's budget.
By understanding the project cost elements, how they relate to each other, and how they change over time, cost management can help ensure that a project stays within its budget..